Trump Supports Elon Musk by Buying a Tesla Amidst Boycotts

In a surprising announcement, President Donald Trump revealed his plan to purchase a Tesla vehicle to show support for Elon Musk. This declaration comes as Tesla faces challenges in sales and a decline in stock prices due to Musk's active involvement in global politics, particularly through his role in Trump's Department of Government Efficiency.

Trump expressed his admiration for Musk, stating, "I'm going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American," in a post shared on Truth Social.

The president voiced his concerns over what he describes as a concerted effort by "radical left lunatics" who are allegedly participating in an illegal boycott of Tesla. Trump defended the company, stating that it is among the best automakers worldwide, and suggested that this boycott is an attack against Musk's vision and values.

Musk's open support for Trump during last year's presidential campaign, along with his leadership in the cost-cutting initiative, the Department of Government Efficiency, has met with backlash. Analysts believe this shift in public perception has negatively impacted Tesla's stock, which suffered a significant drop recently, marking its worst trading day since 2020.

In a candid interview, Musk acknowledged the difficulties his businesses are facing, mentioning, "I'm running them with great difficulty" as he shoulders his responsibilities in the administration. He indicated that the high-profile nature of his governmental role affects his other ventures.

Recent incidents of vandalism at Tesla dealerships and growing protests against Musk have highlighted rising tensions surrounding his controversial leadership. Reports indicate that sales, especially in Europe, have declined as a result of this political involvement, leading to concerns that it damages Tesla's brand image.

Baird analyst Ben Kallo commented, "When people's cars are in jeopardy of being keyed or set on fire, even supporters of Musk might think twice about buying a Tesla." In light of these challenges, Trump praised Musk's efforts, stating he is doing a “fantastic job” and is “putting it on the line” for the United States.

Following Trump's announcement, Tesla shares experienced a slight boost of over 2% in premarket trading, likely influenced by a positive note from Morgan Stanley encouraging clients to buy shares after the drop.

Trump, Musk, Tesla