Trump says he’ll buy new Tesla to support Elon Musk as stock falls
President Donald Trump and White House Senior Advisor, Tesla and SpaceX CEO Elon Musk deliver remarks next to a Tesla Model S on the South Lawn of the White House on March 11, 2025 in Washington, D.C. (Photo by Andrew Harnik/Getty Images)
President Donald Trump shopped for a new Tesla in a show of support for Elon Musk as the billionaire’s electric vehicle manufacturer deals with declining sales and stock prices.
Trump said early Tuesday morning on his Truth Social platform that he would buy a Tesla.
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"Elon Musk is’ ‘putting it on the line’ in order to help our Nation, and he is doing a FANTASTIC JOB!" Trump said in a post on Truth Social. "I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American."
Musk thanked Trump in a post on X.
Musk is still running Tesla and his social media platform X and SpaceX while serving as Trump's adviser, which he’s faced criticism for after overhauling and downsizing the federal government.
Trump’s new Tesla
By the numbers:
President Donald Trump had a new red Tesla on the White House driveway Tuesday as he told reporters that he would write a check for the Model S, which sells for $80,000, and leave it at the White House so his staff can drive it.
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Trump also shared that he hopes his purchase will boost Tesla’s stock which rose nearly 4% on Tuesday after dropping almost 48% since Trump took office in January. Bloomberg Billionaires Index reported that Musk lost $29 billion in net worth on Monday.
Tesla cars and dealerships targeted
Local perspective:
Tesla cars and dealerships have been the targets of protests and vandalism. In early March, a Tesla charging station in Boston was set on fire, and police are investigating gunshots fired at a dealership in Oregon, and fire officials are probing a fire that destroyed four Cybertrucks at a Tesla lot in Seattle, the Associated Press reported.
Separately, Musk has dealt with other challenges as well, explaining on X that he was targeted by a "massive cyberattack" that disrupted the social media platform on Monday, and the last two test launches of his Starship rocket ended in explosions.
The Source: Information for this story was provided by the Associated Press, Donald Trump’s Truth Social platform, and CNN. This story was reported from Washington, D.C.