Mr Trump announced that he would buy a “brand new” Tesla to show his support for Musk, amid the billionaire’s company facing many problems.
“To Republicans, Conservatives, and all great Americans, Elon Musk is risking his business to help our country. He is doing a great job,” US President Donald Trump posted on the social network Truth Social on March 11.
As usual, he said, “left-wing extremists are colluding to illegally boycott Tesla.”
“Tesla is one of the largest automakers in the world, and Elon’s brainchild. They did this to attack and harm Elon and everything he stands for. I will be buying a brand new Tesla tomorrow morning to show my trust and support for Elon Musk, a truly great American. Why should he be punished for using his brilliance to make America great again?”, the US President added.
Musk later posted on social media X to thank the President.
Donald Trump (right) and Elon Musk in Butler, Pennsylvania on October 5, 2024. Photo: AP
After taking office, Trump put Musk in charge of cutting government spending and staffing across agencies, as head of the Office of Government Efficiency (DOGE). However, DOGE’s cutback campaign has faced a lot of opposition.
While Musk has the President’s trust, polls show he is unpopular with most Americans. His efforts to cut government spending have also sparked tension and skepticism.
Tesla investors fear a boycott and backlash from buyers over Musk’s actions and his close ties to President Trump. Some Tesla owners have spoken out about regretting their purchases because of Musk’s political involvement and social media conspiracy theories.
Dissatisfied Tesla owners even put stickers on their cars that say “I bought this car before Elon lost his mind.”
Tesla shares fell more than 15% on March 10, amid uncertainty over Trump’s tariffs or threats to impose them that have sent U.S. financial markets into turmoil. Tesla sales have also fallen across Europe in recent weeks after Musk sparked controversy for supporting far-right groups, including Germany’s AfD party, during the recent election campaign.
Tesla sales in Germany, Europe’s largest car market, fell more than 76% last month compared to the same month a year earlier. Overall sales in the European Union in January were down nearly half from a year earlier.
Earlier this month, dozens of Teslas were set on fire at a car dealership in France in what authorities said was an arson attack. Several Tesla facilities in the United States were also vandalized.
Tesla cars damaged in an arson attack at a dealership in southwestern France on March 3. Photo: AFP
Tesla has lost more than a third of its market value since mid-December 2024, as Musk has become increasingly aligned with Mr. Trump. His social network X also suffered a problem that left it inaccessible for several hours on March 10.
“We still get attacked every day, but this time it seems like the sabotage effort is being done with a lot of resources,” Musk posted on X. “It could be a large group, coordinated groups, or a nation state.”
