KEY POINTS

• Data from Edmunds shows that Tesla owners have been trading in their vehicles at record levels since CEO Elon Musk joined Trump’s White House.
• March represented “the highest ever share” Edmunds had seen for Tesla trade-ins toward new or used cars from brands sold at auto dealerships.
• “Shifts in Tesla consumer sentiment could create an opportunity for legacy automakers and EV startups to gain ground,” Jessica Caldwell, head of insights at Edmunds, wrote in an email.