Tesla, Trump and Elon Musk
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WHYY |
Even so, according to auto industry analyst Daniel Ives of Wedbush Securities, “Tesla is the one least impacted” among U.S. carmakers.
Reuters |
Working-class car buyers will be the hardest hit by U.S. President Donald Trump’s 25% tariff on imported vehicles because almost all low-cost new cars sold in the United States are built elsewhere.
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According to their data from car listings, used Tesla vehicles have seen their prices decrease by 3.7% over the last 3 months and 7.26% over the last year – about 3 times the rate of the rest of the market: Despite being a “premium brand,” Tesla’s prices are coming really close to the CarGurus average.
A new industry report found a 33% increase in used Tesla listings, attributing it, in part, to Elon Musk's actions affecting the brand's reputation.
President Trump's newly announced 25% import tariffs on foreign cars will increase vehicle prices by thousands of dollars, experts say, but Tesla is likely to fare better than other carmakers.
When ranked by brand, Tesla’s used models lost 13.6% in value on average over the past year, more than any other nameplate. Tesla’s new vehicle price drops, aging product line, and stalling demand in new and used EVs are likely contributors. Maserati was second at 10.6%, followed by Chrysler at 7.6%, Chevrolet at 6.5% and Genesis at 4.8%.
Donald Trump’s planned tariffs on auto imports will hurt carmakers around the world and push up prices for US consumers. Among the many losers, one winner stands out: Elon Musk’s Tesla Inc.
Stellantis, whose brands include Jeep, Chrysler, Dodge and Ram, among others, is similarly susceptible to rising costs from the tariffs, as it makes between 73%-75% of vehicles for sale in the U.S. stateside, according to Cox Automotive.
As the global auto world reeled from the potential fallout of Trump's new auto tariffs, one name stood out as less affected than others.
In early February, as the furor around Elon Musk and DOGE's remaking of the federal government began to swell on the left, Democratic Rep. Julie Johnson sold off her Tesla stock. The Texas Democrat wasn't trying to make a statement.