As protests against Elon Musk, CEO (Chief Executive Officer) of Tesla, intensify in the United States, some car owners have started distancing themselves by modifying their vehicles or listing them in the used car market due to concerns that they might be targets of Musk's haters.
Recently in the United States and Europe, some car owners have begun attaching logos from other automotive brands to their Tesla vehicles. For instance, they attach the Honda Civic logo, a combustion engine competitor to the Tesla Model 3, and replace the logos of the Model S or Y with those of the Mazda Mazda6 and Audi A5, respectively. In some cases, the rear of the large pickup truck Cybertruck has been inscribed with the word "Toyota" in large letters.
Since the inauguration of President Donald Trump, Musk has actively worked as a close aide, making Tesla a target for forces opposing the Trump administration. Amid the spread of boycott protests aimed at liquidating Tesla vehicles and stocks, acts of violence such as vandalism, arson, and shootings targeting vehicles, stores, charging stations, and factories have occurred.
Although President Trump has taken steps to directly protect Musk and Tesla, resentment persists. On the 11th, President Trump demonstrated purchasing and test-driving a Tesla vehicle (Model S) at the White House. He has categorized attacks against Tesla as terrorism and announced the establishment of a dedicated task force within the Federal Bureau of Investigation (FBI) while previewing severe penalties.
In the U.S. used car market, the supply of Teslas is rapidly increasing, leading to a downward trend in prices. According to the online car sales site Carz.com, prices for Tesla vehicles in the used car market in March fell to the lowest levels ever recorded. The decline in prices for used Tesla vehicles has been more than twice the average decline for all used cars.
According to data from the automobile transaction and information site Edmunds, from the start of this month until the 15th, Teslas represent 1.4% of the total listings in the used car market for vehicles manufactured in 2017 or later, which is more than three times the percentage from the same period last year (0.4%). While the share of used Teslas has reached an all-time high, the percentage of consumers considering purchasing a Tesla has been recorded at its lowest level since October 2022, at 1.8%.
In the past, a trend of affixing stickers reading "I bought this before Elon went crazy" to Tesla vehicle bumpers has emerged in the United States and Europe. As Musk's Information Efficiency Department (DOGE) has begun large-scale restructuring against the federal government and institutions, it has been reported that the stickers have been selling at an average of 400 to 500 per day in places like California.
Business-wise, Tesla is facing a deteriorating management situation due to a limited model portfolio and an influx of Chinese electric vehicles. Sales in Europe have dropped for two consecutive months this year, with market share decreasing from 21.6% last year to 10.3%. Controversies arising from support for far-right parties in Europe have also impacted performance.