Tesla owners are trading in their EVs at record levels, Edmunds says

Core Insights - Tesla owners are trading in their electric vehicles at record levels, with March marking the highest share of trade-ins for Tesla vehicles toward new or used cars from other brands [1] - Tesla's brand value has declined by 26%, approximately $15 billion, in 2024, marking a second consecutive annual decline [6] Market Performance - Tesla's stock price has decreased by 42% this year, with investors moving away from the stock following initial enthusiasm after Trump's victory [3] - Tesla's sales in the U.S. have declined by about 11% year-over-year, while competitors like Ford, Chevrolet, and Volkswagen have increased their EV sales and market share [4] Consumer Sentiment - Shifts in consumer sentiment towards Tesla may provide opportunities for legacy automakers and EV startups to attract defecting Tesla owners and first-time EV buyers [5] - Interest in shopping for new Tesla models has dropped to its lowest level since October 2022, following a peak in November [6]