U.S. President Donald Trump has declared his intention to purchase a Tesla vehicle as a public demonstration of support for the company’s CEO, Elon Musk. In a post on his social media platform, Trump praised Musk, calling him a “truly great American” and questioning why he should be penalized for his contributions to the country’s progress.
“I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk,” Trump wrote. “Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN???”
Musk, who is the world’s richest individual, quickly responded to the post on his X platform, thanking Trump for his endorsement. The two have become increasingly aligned since Trump’s return to the White House in January, with Musk appointed as head of the newly formed Department of Government Efficiency (DOGE). This initiative aims to cut federal spending and reduce the size of government agencies, but it has encountered growing opposition from lawmakers, activists, and legal challenges.
Despite Trump’s confidence in Musk, the billionaire’s public image has suffered significantly in recent months. Polls indicate that Musk is widely unpopular among ordinary Americans, and his deepening political affiliations have led to controversy. His cost-cutting measures within government programs have resulted in protests and Republican lawmakers facing backlash from their constituents at town halls.
Tesla itself has not been immune to the fallout. The electric vehicle maker has faced a sharp decline in its stock value, plummeting over 15% on Monday alone. Investor concerns stem from Musk’s increasing political involvement, as well as potential consumer boycotts and reputational damage. European markets have also reacted negatively, with Tesla’s sales in Germany dropping by 76% year-over-year, following Musk’s support for the far-right AfD party. Similar trends have been seen across the EU, leading to an overall decline in sales.
Compounding Tesla’s troubles, a dozen of its vehicles were torched in France earlier this month in what authorities suspect was an arson attack. Meanwhile, Musk’s X platform was reportedly hit by a significant cyberattack on Monday, raising concerns over whether his high-profile political stance has made him a target.
As Tesla’s market value continues to decline, the question remains: will Trump’s endorsement help Musk, or deepen the company’s woes?
