Tesla has long been the dominant force in the EV market, but a surprising trend is unfolding — and I’ve been watching it closely. More and more Tesla owners are trading in their vehicles, and it’s not just because of range or features. It’s about Elon Musk.
Over the past few months, I’ve noticed a shift in how Tesla is perceived. Some people are distancing themselves from the brand, not because the cars are bad (they’re still some of the most technically advanced EVs out there), but because they no longer want to be associated with Musk’s political moves and public persona. Whether it's due to his outspoken support for Donald Trump or just a desire to avoid the growing wave of Tesla vandalism, owners are looking for the exit.
And guess what? Automakers are ready for them.
Polestar’s $5,000 Tesla Conquest Offer Is a Game-Changer
Polestar was among the first to move. The company launched a $5,000 conquest bonus for Tesla owners who lease a new Polestar 3 — and the response has been overwhelming. I read that Jordan Hofmann, Polestar’s head of sales, said the deal resulted in some of the brand’s best order days yet. Combine that with an additional $15,000 in Clean Vehicle Incentives, and Tesla owners could be looking at $20,000 in savings.
As someone who follows EV trends religiously, I’m not surprised. Polestar’s sleek design, strong performance, and clean brand image make it an attractive alternative.
Lucid Motors Is Quietly Making a Bold Play
Lucid has also joined the fray with a deal of its own. Tesla owners can get up to $4,000 off when buying a 2025 Lucid Air — plus another $1,000 off if they purchase from a local sales studio. That’s $5,000 in potential savings.
What I find smart here is Lucid’s low-key marketing approach. They're letting the incentive do the talking, giving Tesla defectors a chance to switch without needing to make a public statement.
Volvo and Ford Step In Too
Volvo’s offer is more modest — just $1,000 — but it doesn’t require trading in a Tesla or even switching to a full EV. If you own or lease a Tesla, you can get a bonus for buying or leasing a 2024 electric Volvo or even a 2025.5 XC90 plug-in hybrid. And yes, I double-checked — you just have to take delivery by the end of April.
Ford’s $1,000 incentive for Tesla trade-ins wrapped up on April 2, but it shows how serious legacy automakers are about pulling buyers away from Tesla’s orbit.
Here’s my take: these conquest incentives are less about the actual dollar amount and more about timing. Automakers see a window where Tesla owners are ready to move — emotionally and financially — and they’re giving them just enough reason to make the jump.
Experts like Edmunds’ Joseph Yoon and Kelley Blue Book’s Sean Tucker have both noted how unusual this trade-in market is. Tesla’s resale value is hard to pin down right now, thanks to the volatility surrounding Musk’s politics and social media activity. Some Tesla owners are selling at a loss just to be done with the brand.
Small EV makers like Polestar and Lucid are playing a longer game. They’re willing to take short-term losses to grow their market share and establish trust with an audience that once believed Tesla was the future.
Will It Hurt Tesla?
It’s still unclear whether these offers will seriously dent Tesla’s dominance. The company has a huge lead, and its U.S.-based manufacturing gives it an edge in the face of Trump’s new automotive tariffs. Many of these new EV competitors rely on foreign parts — a possible Achilles’ heel.
But I’ll say this — brand perception matters more than ever. And if Musk continues making headlines, not for innovation but for politics, the tide could turn faster than anyone expects.
So, if you’re a Tesla owner considering a switch, now’s a rare moment to capitalize on some of the best EV deals I’ve seen in years. And if you're in the market for a new EV, watching this competition heat up is only going to benefit you.
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