In February, the UK second-hand Tesla market saw 4,822 listings, marking a 36% increase from December and a 70% surge year-on-year. This rise signals growing pressure on the brand, partly due to Elon Musk's controversial political views, which are alienating British buyers. As consumer enthusiasm wanes, used Tesla prices are dropping significantly, with the average three-year-old Model 3 now costing £20,887—a 17% decline compared to last year. Despite a rise in new Tesla sales in February, this lagged behind broader EV market growth, reflecting Tesla's dwindling brand strength against increasing competition.
Elon Musk's political views are alienating British buyers, causing a notable drop in consumer enthusiasm for Tesla and leading to cancellations of orders.
As more Teslas flood the market, used car prices are tumbling, with the average price of a three-year-old Model 3 dropping significantly over the past year.
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