In a recent development, President Donald Trump announced his intention to purchase a Tesla vehicle to support CEO Elon Musk amidst declining sales and stock value of the electric car manufacturer. He criticized boycotts against Tesla as "illegal," attributing them to "Radical Left Lunatics."
Tesla's stock has experienced a significant downturn, with a 15% drop on Monday and a 45% decline overall in 2025. Analysts attribute this to increased competition from Chinese electric vehicle manufacturers and Musk's political involvement, which may have alienated Tesla's traditionally progressive customer base.
The "Tesla Takedown" movement emerged in early 2025, protesting Musk's role in the Trump administration's Department of Government Efficiency (DOGE) and the associated federal mass layoffs. Demonstrations have occurred at Tesla dealerships across the United States and Europe, urging the public to divest from Tesla by selling their vehicles and shares.
President Trump's declaration of these boycotts as "illegal" is contentious, as political boycotts are generally protected under the First Amendment in the United States.
Despite his support, Trump's endorsement may have limited impact on Tesla's challenges, which include declining sales in Europe and China. Musk's political stance and involvement with the Trump administration have been cited as factors contributing to the company's struggles.
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