Donald Trump Buys Tesla to Show Support for Elon Musk Amid Struggles for the Automaker

President Donald Trump purchased a red Tesla Model S on Tuesday, publicly displaying support for Elon Musk’s electric vehicle company as it faces declining sales, a falling stock price, and political controversy. The event occurred on the White House driveway, where Trump and Musk appeared together in a rare show of personal endorsement by the president.

“Wow,” Trump said as he sat in the driver’s seat of the sleek sedan. “That’s beautiful.” Musk joined him in the passenger seat, joking about “giving the Secret Service a heart attack” while discussing the vehicle’s acceleration, which can reach 60 miles per hour in just a few seconds.

The president announced he would personally purchase the car, which retails for about $80,000, and leave it at the White House for staff use. “It’s a great product,” Trump told reporters. “We have to celebrate him,” he added, referring to Musk.

The purchase comes at a pivotal moment for Tesla, whose stock price has dropped nearly 48% since Trump took office in January. On Tuesday, Tesla’s shares rose nearly 4% following the president’s public endorsement. Trump said he hoped his purchase would help bolster the company.

Musk has become an influential figure in Trump’s second administration. He serves as an informal adviser while continuing to run Tesla, the social media platform X, and the rocket manufacturer SpaceX. The two men’s political alliance has drawn scrutiny, with critics accusing Musk of leveraging his businesses to advance Trump’s agenda.

Overnight, Trump posted on social media that his decision to buy a Tesla was “a show of confidence and support for Elon Musk, a truly great American.” In his post, Trump accused political opponents of unfairly targeting Musk and Tesla.

“Elon Musk is ‘putting it on the line’ to help our Nation, and he is doing a FANTASTIC JOB!” Trump wrote. “But the Radical Left Lunatics, as they often do, are trying to illegally and collusively boycott Tesla, one of the World’s great automakers, and Elon’s ‘baby,’ to attack and do harm to Elon, and everything he stands for.”

At a business roundtable later in the day, Trump defended Musk, saying the billionaire “shouldn’t be sacrificed or have to suffer because he wants to help the government.”

Tesla’s challenges extend beyond politics. The company has been grappling with slowing sales and rising competition in the electric vehicle market. Musk has also faced other setbacks: X was hit by a “massive cyberattack” on Monday that disrupted the platform, and SpaceX’s last two Starship rocket test launches ended in explosions.