Ĵý

Advertisement

Trump says he’s buying a Tesla to support Musk after stock price plunges

Elon Musk speaks with U.S. President Donald Trump as they watch the launch of the sixth test flight of the SpaceX Starship rocket on November 19, 2024 in Brownsville, Texas. Brandon Bell/Getty Images

U.S. President Donald Trump has vowed to buy a “brand new” Tesla car to show his support for billionaire Elon Musk and his company after the automaker’s stock price plunged in one of the worst single day sell-offs in the company’s history.

“To Republicans, Conservatives, and all great Americans, Elon Musk is ‘putting it on the line’ in order to help our Nation, and he is doing a FANTASTIC JOB!” Trump . “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,’ in order to attack and do harm to Elon, and everything he stands for.”

“They tried to do it to me at the 2024 Presidential Ballot Box, but how did that work out?” Trump continued. “In any event, 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.”

Story continues below advertisement

“Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN???” Trump added.

Musk thanked Trump in a post on X, writing, “Thank you, President @realDonaldTrump!”

A screenshot of Elon Musk's post on X.
A screenshot of Elon Musk’s post on X. @ElonMusk / X

A v Tuesday afternoon, showing Trump getting into the front seat of a red Tesla.

Tesla shares have plummeted 45 per cent in 2025 and on Monday tumbled more than 15 per cent to $222.15, the lowest since late October, The Associated Press. Sales of the vehicles are falling in California, the company’s biggest U.S. market, and the company recorded its first annual global sales decline last year.

Tesla sales plunged 45 per cent in Europe in January, research firm Jato Dynamics, even as overall electric vehicle sales rose. The sales numbers were particularly bad in Germany and France.

Story continues below advertisement

The show that Tesla sales there have nearly halved from February a year ago, although the decline is largely due to increased competition from domestic EV companies.

Click to play video: 'Tesla recalls 400,000 vehicles, roughly 39,000 in Canada due to power-steering fault'
Tesla recalls 400,000 vehicles, roughly 39,000 in Canada due to power-steering fault

 

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Get breaking National news

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.
By providing your email address, you have read and agree to Ĵý' and .

In recent days, hundreds of protesters have gathered at Tesla showrooms in the U.S. as part of demonstrations against Musk’s high-level involvement with the Trump administration.

On March 8, footage capturedܰԲprotests at a Manhattan dealership shows police removing a number of demonstrators from inside the premises, where glass doors had been shattered.

People also gathered outside the facility and could be heard chanting, “We need clean air, not another billionaire.”

A woman who identified herself on camera as “Frankie” while officers detained her said she was “getting arrested today for protesting Elon Musk.”

Story continues below advertisement

“He bought his way into office, he bought his way into heading a government agency, he bought his power at the expense of the American people, at the expense of our environment, at the expense of our world and all of the people in it,” the woman said.

Six people were arrested, five for disorderly conduct and one for resisting arrest, according to media reports.

Another video posted on Musk-owned social media platform X on Saturday appeared to show nine NYPD officers protecting a single Cybertruck.

“Nine cops to protect one Cybertruck, amazing,” the person said.

Click to play video: 'Petition urges mall owners to remove Tesla stores amid Canada-U.S. political tensions'
Petition urges mall owners to remove Tesla stores amid Canada-U.S. political tensions

Tesla owners have also on their cars with messages like, “I bought it before Elon went crazy.”

Story continues below advertisement

Last week, outside a dealership in Toulouse, France, destroying eight and severely damaging four. Authorities have since opened a criminal investigation.

The same day, seven Tesla charging stations at a mall in Littleton, Mass., about 60 kilometres outside of Boston, were burned, causing heavy damage and sending up plumes of thick smoke.

In February, federal prosecutors charged a woman in connection with a string of vandalism against a Colorado Tesla dealership, which included Molotov cocktails being thrown at vehicles and the words “Nazi cars” spray painted on the building.

The dealership estimated that several incidents of vandalism over the course of about a month caused between $5,000 and $20,000 in damages, with an estimated $5,000 in damage to the vehicles.

In January, following a post-inaugural speech where Musk made multiple Nazi salute-like motions, U.K.- and Germany-based activist groups projected a still image of the billionaire tech mogul mid-gesture alongside the words “Heil Tesla” onto the outside of the company’s Gigafactory in Berlin.

Click to play video: '‘Heil Tesla’: Musk’s straight-arm salute projected onto carmaker’s gigafactory'
‘Heil Tesla’: Musk’s straight-arm salute projected onto carmaker’s gigafactory

On Monday, Musk admitted he is having “great difficulty” running his businesses as he juggles his advisory role in Trump’s administration, leading the Department of Government Efficiency (DOGE).

Story continues below advertisement

In on Fox Business Network’s Kudlow, former Trump administration official Larry Kudlow asked Musk about his “call to action” within the administration and how he’s managing to keep his companies running, including Tesla, SpaceX, Neuralink and X.

“How are you running your other businesses?” Kudlow asked.

“With great difficulty,” Musk responded.

Musk added that he is “trying to make government more efficient” and to eliminate waste and fraud.

“And so far, we’re making good progress, actually,” he said.

Musk also spoke about his X social media platform that crashed several times on Monday, which he claimed was a “massive” cyberattack.

that the attackers had “IP addresses originating in the Ukraine area,” without going into detail.

With files from Ĵý’ Rachel Goodman and The Associated Press

Sponsored content