Trump Backs Elon Musk Amid Tesla’s Struggles with Purchase Intent – President Donald Trump announced on Tuesday his decision to buy a new Tesla, expressing his support for Elon Musk as the automaker faces declining sales and a plummeting stock price. Trump’s statement comes as Musk navigates mounting pressure from his involvement in global politics, particularly his leadership of the Department of Government Efficiency (DOGE), which has stirred controversy.
In a post on Truth Social, Trump praised Musk as “a truly great American” and declared that purchasing a Tesla was a show of confidence in the entrepreneur. Trump described Tesla as “one of the best automakers in the world” and accused “radical left lunatics” of orchestrating a boycott of the company. According to Trump, this boycott was not only damaging to Tesla but also targeted Musk personally, due to his political beliefs and support for Trump.
While Trump’s claims about illegal collusion in the boycott may align with his political rhetoric, it’s essential to remember that boycotting private companies is protected by the First Amendment in the U.S. The Supreme Court ruled in 1982 that Americans have the right to protest businesses, which includes organizing boycotts for political or social reasons.
Tesla has been struggling in recent months, with its stock tumbling by 45% in 2025. On Monday, the company experienced its worst trading day since 2020, and analysts have pointed to Musk’s involvement in political affairs, especially his role in the Trump administration, as one of the factors contributing to the automaker’s struggles. Musk’s high-profile political activities, including his leadership in the Department of Government Efficiency, have led to backlash, which some believe has had a negative effect on Tesla’s market performance.
Musk himself acknowledged the difficulties of managing his various businesses, such as Tesla, SpaceX, and Twitter (now X), alongside his role in the government. In a recent interview on Fox Business, Musk admitted that managing these responsibilities was “great difficulty,” acknowledging the challenges that come with such a high-profile position. “You’re giving up your other stuff,” Musk said, referring to the sacrifices required to lead in both the private and public sectors.
Trump’s decision to purchase a Tesla highlights his ongoing support for Musk despite the automaker’s recent struggles and the political climate surrounding Musk’s role in Trump’s administration. While it remains unclear whether Trump’s action will have any significant impact on Tesla’s fortunes, the move serves as a strong statement of backing for Musk in the face of adversity.
This support from Trump also emphasizes the complicated relationship between business, politics, and public perception. As both Musk and Trump contend with political scrutiny and the challenges of balancing their private and public roles, Trump’s purchase could be seen as a symbolic gesture of solidarity, underscoring their alliance amid the current political and economic landscape. Whether this will help revive Tesla’s market position is uncertain, but it certainly speaks to the interconnectedness of business, politics, and reputation.
Reports of vandalized Tesla vehicles, damaged dealerships, and widespread protests have highlighted growing opposition to Elon Musk and his involvement in politics, suggesting that tensions may have reached a tipping point. Concerns have been raised that Musk’s high-profile political activities are damaging Tesla’s reputation, particularly in Europe, where sales have seen a significant decline.
Baird analyst Ben Kallo pointed out on CNBC’s Squawk on the Street that the increasing risks to Tesla owners—such as the possibility of their cars being keyed or even set on fire—might make potential buyers reconsider their purchase. Even those who are neutral or supportive of Musk could be deterred from buying a Tesla if they fear for the safety of their vehicle.
In response, Trump praised Musk in his post, calling him a “fantastic job” and commending his efforts to contribute to the United States. Trump’s comments came shortly after a New York Times article highlighted criticisms from some of Musk’s Cabinet colleagues regarding his leadership of government efficiency initiatives.
Tesla shares rose by more than 2% in premarket trading on Tuesday. Beyond Trump’s endorsement of the company, the stock gain may also have been driven by a report from Morgan Stanley, which recommended that investors buy Tesla shares following the recent significant drop in value.
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