The number of Teslas being sold second-hand in Australia is growing, as the Elon Musk-owned electric vehicle brand sees new sales slump amid backlash towards the world’s richest man. Musk’s growing role in the US government and global far-right politics has prompted a wave of anger towards the company, adding to its existing woes and falling share price.
Australia is among the markets where Tesla has seen a precipitous drop in new car sales, while owners report that their vehicles are being vandalised.
Now there are early signs that owners may be rushing to offload their Teslas, according to data compiled by car sales platform AutoGrab and released by the Australian Automotive Dealer Association (AADA).
The data shows that Model 3 and Model Y Teslas climbed up the rankings to become the first- and third-most-sold second-hand EVs in February in Australia — their highest combined ranking so far.
The AADA began breaking down EV second-hand monthly sales in October 2024. While limited to just half a year’s sales, the data shows that Tesla’s vehicles had also risen to their highest proportion within the EV second-hand market by February this year — 18% of the total market.
Related Article Block Placeholder
Article ID: 1196681
In February, the raw sales of Tesla Models 3 and Y grew by 31% and 27% respectively, making up 380 of the 2,137 second-hand EVs sold that month.
This spike coincided with Elon Musk’s highly publicised and controversial effort to slash the size of the US government through his quasi-legal Department of Government Efficiency (DOGE) efforts.
This data comes with a lot of qualifications. Since the total number of sales remains quite low and limited to just half a year’s worth of data, it’s hard to draw too many conclusions.
Importantly, this data pertains to sales, not listings, and does not take price into consideration, either. This means that for every sale, there’s someone on the other end of the transaction who’s chosen to buy a second-hand Tesla. It’s unclear how many Tesla owners, or owners of other EVs, have listed their vehicles for sale during this period. Crikey is seeking more data.
Still, the growing proportion of Teslas as part of the second-hand sales market is one indicator that owners of the premier EV car brand are disproportionately deciding to let go of their vehicles.
This, combined with other bearish evidence, suggests that Tesla’s problems and Elon Musk’s antics are diminishing what was once one of the most valuable brands on Earth.
Have something to say about this article? Write to us at letters@crikey.com.au. Please include your full name to be considered for publication in Crikey’s Your Say. We reserve the right to edit for length and clarity.