‘Sell my used Tesla’ trend skyrockets to 733% amid Musk’s DOGE backlash

‘Sell my used Tesla’ trend skyrockets to 733% amid Musk’s DOGE backlash

  • 23.03.2025 10:00
  • cryptopolitan.com
  • Keywords: DOGE, Tesla

The demand for selling used Teslas in the U.S. surged to a record high in March, reaching 733% on Google Trends, likely influenced by backlash against Elon Musk's work at DOGE. This comes amid Tesla stock pressure and divided Wall Street analyst opinions on its future outlook.

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Estimated market influence

Tesla

Tesla

Negativesentiment_dissatisfied
Analyst rating: Neutral

The company is facing backlash due to Elon Musk's involvement with DOGE, leading to a surge in interest to sell used Teslas and negative sentiment among consumers.

DOGE

Negativesentiment_dissatisfied
Analyst rating: N/A

DOGE's association with Elon Musk has led to increased scrutiny and consumer backlash against Tesla, impacting its sales and stock performance.

Context

Analysis of 'Sell My Used Tesla' Trend and Market Implications

Overview

  • Search Interest Surge: The search term "sell my used Tesla" surged to a record high of 733% on March 22, 2025, according to Google Trends.
  • Geographic Focus: Highest interest observed in California, Virginia, Florida, Washington, and Texas.

Market Trends

  • Used Tesla Sales Increase: Edmunds reported that Tesla models from 2017 or newer accounted for 1.4% of trade-ins in the first two weeks of March, up from 1.2% in February.
  • Stock Performance: Tesla stock is trading at $248, down 35% year-to-date, with analysts divided on its future outlook.

Competitive Dynamics

  • Backlash Against Musk: Elon Musk faces criticism for his role at the Department of Government Efficiency (DOGE), leading to protests and violent acts against Tesla vehicles.
  • Analyst Reactions:
    • Bearish Predictions: JPMorgan's Ryan Brinkman slashed price target to $120, citing backlash and boycotts.
    • Bullish Outlook: Morgan Stanley's Adam Jonas maintains a $430 target, viewing Tesla as the future leader in AI and robotics.

Strategic Considerations

  • Recall Impact: Tesla recalled 46,000 Cybertrucks due to body panel defects, marking the eighth recall in a year.
  • Consumer Sentiment: Acts of vandalism have raised concerns about buyer safety, potentially deterring purchases.

Regulatory Impact

  • DOGE Backlash: Musk's work at DOGE has sparked widespread criticism, affecting Tesla's brand image and consumer trust.

Long-term Effects

  • Investor Uncertainty: The stock faces pressure as it struggles to break above the $250 resistance level, with analysts' ratings reflecting market uncertainty.
  • Global Competition: Tesla is battling competition from Chinese EV manufacturers amid a drop in sales.

This analysis highlights the multifaceted challenges Tesla is facing, including market trends, competitive pressures, and regulatory issues, which could shape its long-term trajectory.