March has brought multiple challenges for Tesla, marked by a significant rise in vehicle trade-ins, reflecting customer dissatisfaction. Recent data indicates a 1.4% trade-in rate for Tesla vehicles from 2017 and newer. Along with plummeting sales and widespread recalls, the company faces fierce competition from BYD and increased protests against government cuts impacting it. Tesla's stock has plummeted 42% this year, which has led to severe financial losses for CEO Elon Musk, compounding the brand's negative outlook and customer confidence issues.
Tesla's problems are mounting almost too quickly to count: There have been plummeting sales in Europe and China, major advancements from Chinese competitor BYD, and a spike in both Tesla vandalisms and wide-scale protests as a response to DOGE's cuts.
If the trend continues in the second half of March, it will represent a bleak new record of dissatisfied Tesla customers.
According to the report, Tesla cars from model year 2017 or newer accounted for 1.4% of all vehicles traded in until March 15-up 0.4% from March 2023 and 1.2% from last month.
Tesla's stock is down 42% since the beginning of 2025, with some analysts estimating that Musk has lost more than $100 billion since December.
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