President Trump Plans Buying Tesla

President Donald Trump praised CEO Elon Musk for cooperating with his administration and announced that he would purchase a new Tesla car as a gesture of support.

 

Trump’s remark coincided with mounting public indignation over Musk’s conduct while leading the Department of Government Efficiency (DOGE) under Trump. Several federal agencies have seen funding reductions and layoffs led by DOGE. As a sign of his confidence and support for Elon Musk, Trump wrote on social media,

“The Radical Left Lunatics, as they often do, are trying to illegally and collusively boycott Tesla… in any event, I’m going to buy a brand new Tesla tomorrow morning.”.

Trump’s post follows multiple reports of demonstrations and vandalism against Tesla facilities in the US and Europe, as well as what appears to be a rise in public indignation over DOGE’s actions. Musk seems to be associated with the alt-right in the United States.

Additionally, it was observed to alienate a large portion of Tesla’s target market in Germany, which is primarily made up of liberals and left-leaning, climate-conscious voters.

Deteriorating brand perception may present more challenges for Tesla’s car deliveries, which saw their first yearly decline in 2024. The electric vehicle manufacturer’s sales in Europe fell in January because of increased competition from domestic and Chinese firms.

Musk, who frequently promotes DOGE’s initiatives on social media, told Fox Business that balancing his responsibilities at the EV manufacturer and DOGE was becoming more challenging. Musk is also in charge of SpaceX and xAI, his new artificial intelligence company.

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ABOUT THE AUTHOR See More
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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