Tesla Sales Slow Down Amid Elon Musk Backlash

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8 days ago

Summary

Tesla sales slow down amid backlash, while used Teslas surge in market. Sales of new Tesla vehicles fell nearly 9% in Q1 compared to last year, as electric vehicle sales from other brands rise.

Key Points

The number of used Tesla vehicles listed for sale on Autotrader.com skyrocketed in March, with an average of over 13,000 listings.
Tesla sales fell 9% in the first quarter compared to last year, while electric vehicle sales from other brands rose by 10.6%
Automakers like GM and Hyundai are seeing an uptick in growth, with GM brands selling nearly 30,000 EVs in Q1

Why It Matters

The decline in Tesla sales highlights the impact of Elon Musk's actions on consumer perception, while the surge in used Teslas suggests a shift in the market.

Author

Kirsten Korosec

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