<div id="readability-page-1"><div>As the backlash against Elon Musk intensifies, a record number of Tesla, Inc. TSLA owners are rushing to offload their vehicles, flooding the used market and driving prices down.What Happened: The used car market saw a record surge in Tesla listings in March, with over 13,000 used Teslas posted for sale on Autotrader, according to Cox Automotive, reported Business Insider.That marks a 67% year-over-year increase and comes amid nationwide protests dubbed the “Tesla Takedown,” which targeted Musk's growing political affiliations — including his role as head of DOGE and close ties to the Donald Trump administration.See Also: Elon Musk’s Father Defends Tesla, Says Son Is ‘Doing The Right Thing’ And The Stock Would Recover To $600 By 2025 End: Here’s What Analysts Think About TSLAA Cox Automotive spokesperson told the publication that the spike in listings is being driven by two main factors: Tesla's massive growth between 2021 and 2023, which naturally feeds into the used market now, and Musk's increasingly polarizing public image.&#34;We cannot ignore the influence of Elon Musk's new high-profile job as DOGE boss and presidential confidant. That is certainly influencing some owners and buyers,&#34; the spokesperson said.Stephanie Valdez Streaty, director of industry insights at Cox Automotive, said that Musk's political and public persona is creating “significant challenges” for Tesla, compounding issues like rising competition and an aging vehicle lineup.Why It Matters: The surge in used Tesla inventory is weighing on prices. According to CarGurus, the average used Tesla now sells for about $10,000 less than other electric vehicles, the report noted.Tesla is trying to regain momentum with two major launches this year: a more affordable EV model expected in the first half and a robotaxi service slated to debut in Austin, Texas, in June.According to a Cox Automotive report, the U.S. EV market saw a 10.6% year-over-year growth in the first quarter of 2025, although Tesla experienced a decline.Despite this, Tesla remains a dominant force in the domestic EV market. Despite an 8.6% drop in sales year over year, Tesla still leads the segment with a commanding 43.5% market share.Tesla’s expansion into new markets, such as Saudi Arabia, highlights its global ambitions despite challenges in Europe. However, a new consumer survey in March revealed that Musk is making Americans less inclined to purchase a new Tesla.According to Benzinga's Proprietary Edge Rankings, Tesla holds a momentum rating of 90.20% and a growth rating of 67.67%. For more stock insights and growth opportunities, subscribe to Benzinga Edge.The consensus price target for Tesla is $299.99, based on evaluations from 29 analysts. Benchmark set the highest target at $475 on Feb. 12, while GLJ Research gave the lowest at $24.86 on the same day. The three latest price targets from UBS, Mizuho, and Benchmark average around $305, indicating a potential upside of 20.58%, according to Benzinga Pro data.<figure><img src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/12034019/Screenshot-2025-04-12-at-1.10.13%E2%80%AFPM.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="896" height="650" original-src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/12034019/Screenshot-2025-04-12-at-1.10.13%E2%80%AFPM.png"/></figure>Check out more of Benzinga’s Future Of Mobility coverage by following this link.Read Next:<ul><li>Elon Musk Thinks ISS Has Served Its Purpose And Should Be Deorbited, But Sunita Williams Says It Is Still At Its Prime: ‘This Place Is Ticking. It’s Just Really Amazing’</li></ul>Disclaimer:This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Photo courtesy: Shutterstock</div></div>

TSLA

Elon Musk's political affiliations have led to a record surge in used Tesla listings, increasing by 67% year-over-year. Over 13,000 used Teslas were posted for sale in March, pushing prices down by approximately $10,000 compared to other EVs. This trend is attributed to Musk's polarizing public image and rising competition in the EV market. Despite a decline in sales, Tesla maintains a 43.5% market share and plans to launch new models and services to regain momentum.

- A record number of Tesla owners are selling their vehicles, leading to a 67% increase in used Tesla listings in March, driven by Musk's controversial public image and political affiliations.  
- The surge in inventory is causing used Tesla prices to drop, with average prices now about $10,000 lower than other electric vehicles.  
- Despite a decline in sales, Tesla maintains a 43.5% market share in the U.S. EV market and is launching new models to regain momentum.

Elon Musk's Political Fallout Fuels Record Dump of Used Tesla Cars — Now Selling For Thousands Below Market Value