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Trump says Elon Musk has been ‘treated very unfairly’
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President Donald Trump has bought a Tesla in a "show of confidence and support" for Elon Musk amid the billionaire's companies being boycotted.
The electric car company's stock fell more than 15 per cent in a single day - the worst fall since 2020.
The reason? Well, according to Trump, the "radical left lunatics" boycotting the firm to "attack and do harm" are to blame, but Forbes reported this being down to an investment bank slashing its delivery forecasts, along with broader market fears spooking investors.
It's also worth considering the economic uncertainty around Trump's tariff policies and the backlash over Musk's involvement with the Trump administration and the (unofficial) Department of Government Efficiency (DOGE).
On Tuesday (March 11), Trump chose a red sedan as he shopped for a new Tesla on the White House driveway with Musk (who he called a "patriot") and his son X in attendance.
The president had plenty to say about the "beautiful" vehicles and also complimented the unique-looking Cybertruck as he gave his first impressions: “As soon as I saw it, I said, ‘That is the coolest design.'"
When asked if he was buying or leasing, Trump replied: "Well I'm gonna buy. I'm going to buy because number one, it's a great product, as good as it gets—and number two, because this man [pointing to Musk] has devoted his energy and his life to doing this and I think he has been treated very unfairly by a fairly small group of people."
This is referring to US Tesla showrooms being met with protesters (aka "Tesla Takedowns") and Tesla vehicles being vandalised, while some owners of the car have even gone so far as to add bumper stickers on their vehicle with messages like, “I bought it before Elon went nuts," AP reported.
People participate in a "Tesla Takedown" protest against Elon Musk outside a Tesla dealership in Pasadena, CaliforniaFrederic J. Brown/AFP via Getty Images
Later on, Trump shared the "bad news" that he won't be able to drive because he hasn't driven a car "in a long time" but said the car will be used by his staff at the White House.
Social media has been criticising the bizarre press conference, which has been described as a "Tesla 'infomercial'".
" Donald Trump doing a Tesla infomercial for Elon Musk—his biggest political donor—in front of the White House is peak corruption," Republicans Against Trump wrote.
"Grocery prices are soaring. Housing costs are skyrocketing. Retirement savings are plummeting. But Donald Trump thought today would be a good day to play car salesman," Democrat Senator Elizabeth Warren posted.
"Just because the corruption plays out in public doesn't mean it's not corruption," Democrat Senator Chris Murphy wrote.
Photographers were even able to capture Trump's notes he was reading off of which included info about Tesla's pricing model.
One person reacted: "Holy s*** -- Trump was reading from a literal Tesla sales pitch, complete with pricing, during his White House event with Elon Musk."
"This is actually f***ing jaw-dropping. while trump cuts programs you need to live, he’s turning the white house into a car dealership to advertise his unelected shadow president’s failing company. dystopian levels of corruption," another person shared.
Someone else commented: "Trump is using the White House to make a commercial for the richest man in the world while Americans’ 401ks are plummeting."
"Americans: We’d like to afford basic necessities, keep vital programs, and not lose our retirement savings. Trump: Best I can do is a car commercial for the richest man on Earth," Meidas Touch posted.
Elsewhere, Donald Trump throws a strop over Canada's latest move, and Donald Trump makes a surprising Tesla promise amid growing backlash.
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