President Donald Trump has announced that he is buying a ‘brand new Tesla’ to support his ‘first buddy’ during a financial loss.

Elon Musk has taken a hit to his net worth as Tesla stocks continue to plummet.

The billionaire has taken center stage of the Trump administration in recent weeks after taking on the role of head of the Department of Government Efficiency (DOGE).

Trump is helping Musk by buying a Tesla (Andrew Harnik/Getty Images)

While not technically a government department, DOGE is purported to act as an outside advisor to the president on federal spending.

However, controversy surrounding Musk’s new role in government has led to protests and boycotts of the Tesla brand.

Now, Trump has revealed that he is personally supporting Musk by purchasing a Tesla.

Taking to Truth Social, the president wrote: “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!

“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.”

Trump went on to claim that he has plans to buy a Tesla of his own in the morning as a ‘show of confidence’ in his advisor.

Trump went on to write: “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.

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

Trump has claimed that he intends to purchase a Tesla vehicle (Andrew Harnik/Getty Images)

It has not yet been revealed which model of Tesla the president intends to purchase.

According to a report by Entrepreneur, Tesla share prices have dropped from $404 to $263 in this year alone

And this dip may be a result of Musk’s close proximity to the Trump administration.

Wedbush analyst Dan Ives said, as per Barrons: “While the DOGE/Trump Musk iron-clad partnership has created major brand worries for Tesla … we estimate less than five percent of Tesla sales globally are at risk from these issues.

“We expect Musk will better balance his time between DOGE and Tesla/SpaceX over the course of 2025.”

Although, Tesla shareholders have been publicly venting their thoughts on the billionaire now splitting his time between various job roles.

One shareholder even demanded on X, formerly Twitter, that Musk share ‘five things he’s done for them this week’.

The jibe appeared to use Musk’s own words against him as it referenced a controversial email sent out by the Department of Government Efficiency (DOGE) which demanded federal employees justify their paychecks.

A fork in the road appears to have formed for Elon Musk’s Tesla, as the electric vehicle manufacturer has issued a stark warning to Trump’s trade administration regarding the harm tariffs could do to the company.

It would be hard to argue against the fact that Donald Trump’s victory in the 2024 US election has been incredibly beneficial for Elon Musk as an individual and Tesla as a company, as both saw their values increase dramatically in the months immediately following last November.

Musk’s increased power within the government, while incredibly controversial, has raised his profile significantly and also given him a close and incredibly powerful ally in the president.

While Tesla has seen it’s first sales decline in nearly a decade and continues to lose value on the stock market in recent weeks, the car company retains strong support from President Trump, shown best in a bizarre publicity stunt outside the White House where Trump claimed he would buy a ‘brand new Tesla’ and that vandalism towards Tesla dealerships will be classified as ‘domestic terrorism’.

Musk’s close relationship with Tesla proved to be incredibly beneficial in the months following the election (Andrew Harnik/Getty Images)

In a shocking contradiction of this confidence, however, company representatives from Tesla have written a letter to US Trade Representative Jamieson Greer regarding the harmful impact of President Trump’s tariffs on the vehicle company’s international exports, as reported by CNN.

“As a U.S. manufacturer and exporter,” the letter illustrates, “Tesla encourages USTR to consider the downstream impacts of certain proposed actions taken to address unfair trade practices.

“While Tesla recognizes and supports the importance of fair trade, the assessment undertaken by USTR of potential actions to rectify unfair trade should also take into account exports from the United States.”

This comes at a time where the Trump administration’s aggressive trade policies involving tariffs open the door up for retaliatory actions by targeted countries, which would in turn harm the exported sales of Tesla vehicles outside of the United States.

Further CNN reports indicate that Tesla sales are already down around 45% in Europe during the month of January, so further tariffs which would either increase the price for the consumer or incur additional costs for Tesla would stand to lose the company more money.

The letter also outlined that the Trade Representative should consider the “limitations in the domestic supply chain,” making reference to the necessity of important key components such as lithium-ion batteries for electric vehicle production.

Tesla argues that it still relies on imports of key components for their electric vehicles (Xiaolu Chu/Getty Images)

While Tesla themselves do have some factories within the US capable of producing lithium-ion batteries and other key parts, the company likely still relies heavily on imports from countries like China, who have been hit heavily by tariffs from the US government.

China is also Tesla’s second largest market, as per Reuters, delivering record sales in 2024 with 36.7% of all vehicle sales made in the country, so any retaliatory tariffs from the Chinese government on EVs would significant harm their profits – especially as the market has grown increasingly competitive with offerings from rivals like Xiaomi and BYD, reported by the New York Times.

If you like to put the pedal to the metal, you might want to avoid running for President of the United States, as a bizarre stipulation means you probably won’t be able to make the most of your classic car collection.

We’re used to seeing President Donald Trump being motored around in his armored vehicle known as ‘The Beast’. Stocked with the POTUS’ blood type, door handles that can shock attackers, and bulletproof windows, the $1.5 million vehicle can withstand chemical attacks and is Trump’s regular runaround.

Still, Trump has boasted an impressive car collection over the years, including a 1956 Rolls-Royce Silver Cloud, 2015 Rolls-Royce Phantom Saloon, and even an OG Tesla Roadster.

With the recent drama surrounding Tesla, Trump has gotten firmly behind best buddy Elon Musk and bought a brand-new EV.

The POTUS won’t be able to take his new Tesla for a spin (Andrew Harnik / Staff / Getty)

Turning the White House into his own personal Tesla showroom, the POTUS posed in front of a fleet of Teslas and picked out a shiny red Model S that retails at around $80,000.

The President joked about “giving the Secret Service a heart attack” as he sat in the driver’s seat and said about how the vehicle can reach 95 kilometers per hour in just few seconds.

Saying, “That’s beautiful, that one,” Trump continued: “I’ll give him a check. I do it the old fashioned way …and I don’t want a discount.”

Speaking to the crowd, Trump concluded: “Here’s the bad news. I’m not allowed to drive the car

“I haven’t driven a car in a long time and I like to drive cars. But I’m going to have [the Tesla] in the White House and I’m going to let my staff use it. I’m going to let the people in the country use it and everyone is excited about it. I’m not allowed to use it. Can you believe it?”

It’s not a case of Trump not wanting to drive the Model S – he’s not allowed.

Following the assassination of John F. Kennedy in 1963, the Secret Service enacted a rule that no serving or former President can drive on the roads. Lyndon Johnson was the last President to drive on public roads, and although the rule isn’t law, it’s adhered to by all parties.

Joe Biden, Barack Obama, George W. Bush, and Bill Clinton all steer clear of getting behind the wheel, while Hillary Clinton says she hasn’t driven since 1996.

The fact that former Presidents aren’t allowed to drive is a cause of contention for them, with Clinton telling Ellen DeGeneres that not being able to drive is the thing he misses the most. Speaking in 2012, he joked: “I mean, if I wanted to give up Secret Service protection for life, I could do it.”

The same year, President Obama was seen driving a Chevy Volt around the White House, with Secret Service agents closing the gates so he wasn’t driving in public. When serving as Vice President, Joe Biden lodged a complaint when speaking at the United Auto Workers conference in 2014, grumbling: “There are a lot of reasons to run for president, but there’s one overwhelming reason not to run for president. I like to get that [Corvette] Z06 from zero to 60 in 3.4 seconds.”

Biden used his appearance on Jay Leno’s Garage to give his ’67 Corvette a rare drive around a Secret Service training area in Maryland.

The Secret Service are tasked with keeping the President and former Presidents safe because they’re trained in “evasive and defensive driving maneuvers,” and while we’re not questioning the driving skills of the POTUS, it looks like he’ll have to admire his new Tesla from afar.

Tesla stock has reacted after Donald Trump and Elon Musk turned the White House lawn into a ‘Tesla showroom’ yesterday.

Full-time President of the United States, part-time Tesla salesman, it seems Donald Trump is trying to do it all. While the POTUS once said that electric vehicle owners can ‘rot in hell’, it was all smiles as President Trump sat behind the wheel of his new red Tesla Model S in front of the White House. Turning his office into its very own Tesla showroom, Trump stood firmly by Tesla’s side and defended the electric vehicle brand over recent controversy.

Alongside some vowing to boycott Tesla, others have taken it further by damaging vehicles and electric chargers, while police in Oregon confirmed a dealership was damaged by gunfire during a recent anti-Tesla protest.

Musk and Trump represented a united front when promoting Tesla in front of the White House (Andrew Harnik / Staff / Getty)

It’s true that the President once owned a Tesla Roadster, but in the aftermath of rolling back the Biden administration’s EV plans, you might not think he’s Tesla’s No. 1 fan. Of course, the closeness of Elon Musk to the White House and the endorsement of Trump suggest it’s in everyone’s interest to try and keep Tesla’s wheels greased.

The President has said those who are targeting Tesla will be dealt with as ‘domestic terrorists’, and although Tesla stocks have taken a recent beating, it seems Trump’s sales pitch is working.

March 10 saw Tesla wipe $127 billion off its worth in a one-day ‘market bloodbath’ – marking its worst recordings since 2020. In general, Tesla stocks are down 50% since December 2024. Since peaking on December 17, Tesla has recorded seven straight weeks of losses, knocked around $800 billion from its market cap, and lost its trillion-dollar status.

Considering Trump entered the White House on January 20 and Musk has cemented himself as a key member of his counsel, it feels like more than a bit of a coincidence that Tesla stocks have started to tumble during this period.

There’s been some bounce back, with TSLA stocks rising by 3.79% in the past 24 hours.

Speaking at the White House event, Musk was looking at the future of Tesla and cheered: “As a function of the great policies of President Trump and his administration, and as an act of faith in America, Tesla is going to double vehicle output in the United States within the next two years.”

Tesla stocks are slowly climbing from their recent lows (Google)

Could this be the start of Tesla’s return to form? Morgan Stanley analyst Adam Jonas left a note to clients, telling potential investors now’s the time to buy: “Tesla shares have fallen 50% from the Dec 17th highs (and down 45% YTD) on poor sales data, negative brand sentiment, and market de-grossing. We see the pullback as a buying opportunity for an embodied AI compounder.”

Jonas points to upcoming ‘milestones’ like the robotaxi testing in Austin, an update on Tesla’s Optimus robots, and new federal rules on regulating autonomous vehicles as key deciders for Tesla stock.

Even though the stocks are back on the incline, Wedbush Securities financial analyst Dan Ives has warned that associating Tesla with the Trump administration could be bad for the brand in the long run.

Trump has suggested that a Tesla boycott is ‘illegal’, although that’s not actually the case. Either way, the President and Mr. Musk are doing everything in their power to ‘make Tesla great again’.