President Donald Trump showcased several Tesla models at the White House on Tuesday afternoon, expressing his intention to purchase a Tesla vehicle.
This event occurred amid a significant decline in Tesla’s stock value, which has fallen by 50% since December 2024.
Standing alongside Tesla CEO Elon Musk, President Trump inspected various Tesla models, including the Model S, Cybertruck, and Model Y, displayed on the White House lawn.
He praised Musk’s dedication to innovation and announced plans to acquire a Tesla, stating, “I’m going to buy because, number one, it’s a great product… And number two, because this man has devoted his energy and his life to doing this.”
Tesla’s recent stock decline has been attributed to several factors, including weak global sales performance and concerns over Musk’s involvement in the U.S. Department of Government Efficiency. In Germany, Tesla’s deliveries plummeted by 59%, marking the lowest figures since 2021, while sales in China decreased by 11.5% year-over-year.
Despite these challenges, Musk remains optimistic about Tesla’s future. He acknowledged the recent stock downturn but reassured investors by stating, “It will be fine,” during a press briefing.
President Trump’s public endorsement of Tesla and Musk comes at a critical time for the company. The President’s support aims to bolster confidence in Tesla amid market volatility and public protests against Musk’s political associations.
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