CNN reported on the 17th (local time) that the supply of used Tesla cars in the U.S. has surged.
CNN cited data from the used car transaction site "Cox Automotive" stating that the average number of used Teslas registered on this site in the fourth quarter of last year was 11,300, a 28% increase from 8,800 units in the same period the previous year. Cox analyzed that various factors contributed to the surge in used Tesla vehicles, noting that after the spike in new Tesla sales post-pandemic in 2021, there could now be a demand for replacements as three years have passed.
In addition, CNN noted that signs of some consumers' resentment toward Elon Musk, the CEO of Tesla, are influencing vehicle purchases. According to data from Standard & Poor's (S&P) Global Mobility, in areas referred to as "blue states"—where voters have cast ballots for Democratic candidates in the last four presidential elections—the rate of Tesla owners repurchasing new Tesla vehicles decreased from 72% in the fourth quarter of 2023 to 65% in the fourth quarter of last year, a drop of 7 percentage points. Conversely, in "red states," where support for the Republican Party is strong, the same Tesla repurchase rate slightly increased from 47.6% in the fourth quarter of 2023 to 48.2% in the fourth quarter of last year, a rise of 0.6 percentage points. Additionally, in California, known as a Democratic stronghold, Tesla's market share in electric vehicles was 52.5% at the end of last year, down 7.6 percentage points from a year earlier.
Musk emerged as a close ally of President Donald Trump's campaign and currently leads the Department of Government Efficiency (DOGE), driving significant workforce reductions and expenditure cuts at federal agencies.
According to a Quinnipiac University poll from last month, 53% of respondents expressed resentment about Musk taking on a significant role in the Trump administration. Support for Musk was indicated by only 39% of respondents. In a previous poll conducted by the university in December 2022, positive opinions about Musk (36%) were slightly more prevalent than negative opinions (35%).
However, there are concerns that determining how much the CEO's political activities impact Tesla sales is difficult, as purchasing a car is one of the most carefully considered items for consumers, excluding dwellings. Ivan Drury, the analysis director at the car buying site Edmunds, said, "Many people are either uninterested in politics or do not prioritize it, and many will set aside their political feelings and focus on price when making such purchases."