U.S. President Donald Trump shared his intent to purchase a Tesla (NASDAQ:TSLA) on Tuesday to support Elon Musk as the electric vehicle maker’s sales and share price face pressure from the CEO’s foray into global politics, most notably as head of Trump’s cost-cutting Department of Government Efficiency.
“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,” Trump wrote in a post published early Tuesday morning on Truth Social.
Trump said “radical left lunatics” are “illegally and collusively” boycotting Tesla, which the president described as one of the best automakers in the world. This action, Trump said, was meant as an attack on Musk and what he stands for.
It is not illegal for consumers to boycott companies. The Supreme Court in 1982 ruled the First Amendment protects Americans’ rights to protest private businesses.
Musk’s support of Trump in the runup to last year’s presidential election and subsequent leadership in his government efficiency initiative has sparked backlash. Analysts have cited this reputational shift as a driver of trouble for the automaker’s stock, which posted its worst day since 2020 on Monday and is down 45% in 2025.
Musk acknowledged the hit to his businesses in an interview Monday, saying he was running them “with great difficulty” because of his high-profile role with this administration. He told Fox Business that as head of DOGE, “you’re giving up your other stuff.”
TSLA shares surged $7.57, or 3.4%, to $229.72.
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