On March 11, hours after following the worst ever day of Tesla stock sell-offs, President Trump announced on Truth Social that he was going to buy a brand new Tesla.
Hours later, Trump and Musk tried to create a hilariously unethical Tesla commercial outside the White House. The company delivered five vehicles to the White House, where they were lined up at the South Portico. Trump and Musk then staged a press event, live-streamed on Musk’s X, in which Trump defended and praised Musk, expressed his admiration for the vehicles, and literally read a Tesla sales pitch:
President Trump holds notes on the pricing of Tesla vehicles as he delivers remarks on the South Lawn of the White House on March 11.
Photo: Andrew Harnik/Getty Images
Trump ultimately said that he would buy a red Model S. As he climbed into the $80,000 vehicle along with Musk, he exclaimed, “Wow, that’s beautiful … Everything’s computer!”
Musk to Trump: It’s a like a golf cart that goes really fast
Trump: This is really amazing pic.twitter.com/vkqHlEUyWT
— Acyn (@Acyn) March 11, 2025
Trump and Musk also decried the attacks on Tesla, which the president called a “great American company.” Later that day, Trump said he thought his endorsement could quickly double Tesla’s sales. Though Tesla’s stock value was up for about a week afterward, there’s so far no evidence of a Trump bump in Tesla sales. Several market analysts continued to opine that Musk’s political activities and alignment with Trump were doing Tesla more harm than good. One of the most traditionally bullish Tesla investors said as much in a warning to the company: “Tesla is becoming a political symbol of Trump and DOGE, and that is a bad thing for the brand,” cautioned Wedbush analyst Dan Ives. “You think it’s helping, but it’s actually hurting.”