Second-hand Teslas flood UK market as Elon Musk’s politics take toll
The UK’s second-hand Tesla market has hit unprecedented levels, with 4,822 used vehicles listed in February alone, according to data from Auto Trader.
This figure represents a 36 per cent increase from December and a 70 per cent jump on the same month in 2024, signalling mounting pressure on the electric car pioneer.
Industry insiders suggest that Elon Musk’s outspoken political views – including perceived alignments with Donald Trump and far-right European parties – are alienating some British buyers. Tesla’s technological edge over competitors has also narrowed, deterring drivers who were once drawn to the brand’s innovations and sleek designs.
Thom Groot of the Electric Car Scheme said that there had been a notable drop in consumer enthusiasm for Tesla over the past few months, while a senior executive at a major leasing firm likewise notes that “some people are cancelling orders, explicitly because of Musk’s politics.”
As more Teslas flood the market, used car prices are tumbling. A three-year-old Model 3 now averages £20,887 on Auto Trader, marking a 17 per cent decline year-on-year – compared to an 8.2 per cent drop for the wider EV sector in that same period. These trends reflect both Tesla’s waning brand strength and broader competition across the electric car space.
Tesla’s share price has plummeted by over 30 per cent this year, as indications of slackening demand have surfaced in key international markets, including China, Australia, and Germany. And while UK sales of new Teslas rose 21 per cent in February – boosted by a last-minute rush ahead of a tax rise on electric vehicles – that figure lagged the wider 41.7 per cent jump in EV sales overall.
Industry experts believe the combination of Musk’s political activism, fewer new Tesla models, and evolving consumer taste for rival EVs explains the ongoing slide in the brand’s appeal. Where once the Model 3 stood out, now BMWs, Lexuses, and other premium marques are rivalling Tesla on both performance and price, adding extra competitive strain to the once-dominant electric car maker.
