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People in Business: June 2, 2025

Tesla owners offloading their cars over Elon Musk backlash are in for a nasty surprise

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A different kind of sticker shock.
Elon Musk's recent comments on the resale value of Tesla vehicles have sparked significant backlash among Tesla owners and investors. Musk suggested that Tesla might introduce measures to control the resale prices of its cars, aiming to prevent what he perceives as price gouging in the used car market. This statement led to a sharp decline in Tesla's stock price, as investors worried about the potential negative impact on the brand's value and customer satisfaction. Many Tesla owners expressed frustration and anger on social media, arguing that such a policy would unfairly limit their ability to sell their vehicles at market rates. The controversy has reignited debates about the ethics and legality of manufacturers controlling resale prices, with some experts warning that Tesla's proposed measures could face legal challenges.

Read the Full Fortune Article at:
[ https://fortune.com/2025/03/11/tesla-resale-prices-elon-musk-backlash/ ]