Trump Vows to Buy Tesla in Show of Support for Elon Musk Amid Stock Slump

In a late-night social media post, President Donald Trump announced plans to purchase a new Tesla vehicle to demonstrate support for Elon Musk, the CEO of Tesla and head of the Department of Government Efficiency (DOGE).

This move comes amid a significant decline in Tesla’s stock value and ongoing protests targeting Musk’s political involvement.

On his platform, Truth Social, Trump praised Musk’s efforts to streamline federal operations, stating that Musk is “putting it on the line in order to help our Nation” and is doing a “FANTASTIC JOB!” He criticized

“Radical Left Lunatics” for attempting to “illegally and collusively boycott Tesla,” and declared his intention to purchase a Tesla as a “show of confidence and support for Elon Musk, a truly great American.”

The announcement follows a sharp 15.4% drop in Tesla’s stock on Monday, marking its worst performance in four years.

This decline is attributed to investor concerns over Tesla’s backlash against Musk’s political affiliations.

Since reaching an all-time high of $1.5 trillion in December, Tesla’s market value has more than halved.

Musk’s leadership of DOGE has sparked protests at Tesla dealerships across the United States. Incidents include vandalism at a Colorado dealership and demonstrations in Manhattan, where several protesters were arrested.

Additionally, Tesla’s sales have declined in key markets, with a 76% year-on-year drop reported in Germany.

In response to Trump’s public support, Musk expressed gratitude on his social media platform, X.

The ongoing political dynamics continue to influence Tesla’s market performance and public perception.