Trump buys Tesla to support Musk amid struggles

President Donald Trump made an unusual move on Tuesday, purchasing a Tesla Model S in a high-profile show of support for Elon Musk. The purchase, made right on the White House driveway, comes as Tesla struggles with declining sales and stock market troubles.

Trump, stepping into the sleek red sedan, admired the car’s design. “Wow. That’s beautiful,” he said, before promising to write a personal check for the vehicle, which retails for around $80,000. However, despite his enthusiasm, security concerns mean Trump won’t be the one driving it. Instead, the car will be kept at the White House for staff use.

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Tesla’s stock price jumped nearly 4% following the announcement, a brief reprieve from a 48% decline since Trump’s return to office in January. “We have to celebrate him,” Trump said, referring to Musk. “Elon is putting it all on the line for this country.”

Musk under pressure as Tesla faces challenges

Elon Musk, who also serves as Trump’s advisor through the Department of Government Efficiency (DOGE), has faced growing criticism over Tesla’s financial performance and his close ties to the administration. His other ventures—social media platform X and rocket manufacturer SpaceX—have also been under strain. Musk recently claimed that X suffered a “massive cyberattack,” while two test flights of his Starship rocket ended in explosions.

Analysts warn that Trump’s public endorsement of Tesla may not have the intended effect. “Tesla is becoming a political symbol of Trump and DOGE, and that is a bad thing for the brand,” said Wedbush Securities analyst Dan Ives. “You think it’s helping, but it’s actually hurting.”

Meanwhile, Tesla dealerships have been targeted by protests and even acts of vandalism. Police are investigating gunshots fired at a dealership in Oregon, and fire officials are looking into an incident where four Cybertrucks were set ablaze at a Tesla lot in Seattle.

Political Ties and Business Risks

Trump’s purchase adds to a growing list of instances where his business interests and political influence intersect. His endorsement of Musk comes after Tesla has faced allegations of unfair labor practices and a boycott movement led by progressive activists.

The president has not shied away from defending Musk. “Radical Left Lunatics are trying to attack Elon and everything he stands for,” Trump wrote on his Truth Social platform. “They want to destroy Tesla just because he supports making government more efficient.”

Yet, some experts question the long-term effects of such a direct presidential endorsement. “This type of alignment with a political figure as controversial as Trump could alienate a significant portion of Tesla’s customer base,” said auto industry expert Michelle Krebs.

For now, Tesla’s future remains uncertain. Will Trump’s backing help the company bounce back, or will it further entrench Tesla as a politically divisive brand? Only time will tell.