In a demonstration of solidarity, the 47th President of the United States, Donald J. Trump, announced on Tuesday his intention to purchase a new Tesla vehicle on Wednesday morning. This decision was framed as a testament to his confidence in Tesla's Chief Executive Officer, Elon Musk, whom Trump lauded as "a truly great American."

Trump shared this announcement on the social media platform 'Truth', criticizing the boycott efforts against Tesla, which he characterized as an assault on Musk and his contributions to the country. He further remarked that "the Radical Left Lunatics" were unjustly targeting Musk and Tesla, a prominent player in the automotive industry. The statement aimed to rally support for Musk among Republicans, conservatives, and his wider constituency.

Musk’s response

In response, Musk expressed his gratitude, stating, “Thank you, President," thereby acknowledging the public endorsement. This remark came in the context of nationwide protests against Tesla, ignited by Musk’s involvement with the Department of Government Efficiency (DOGE) and its extensive federal job reductions.

Demonstrators have gathered outside Tesla facilities, brandishing signs and voicing their discontent with Musk's policies. While the protests have largely remained peaceful, some Tesla properties and vehicles have experienced acts of vandalism. This backlash highlights the escalating controversy surrounding Musk and his decisions within the administration.

Plummeting Tesla stocks 

On Monday, Tesla's stock experienced its most substantial drop in several years, plummeting by over 15 percent. This decline was primarily driven by apprehensions surrounding economic instability and the impact of tariffs imposed by Trump, which triggered a widespread sell-off in the market.

The downturn followed a revision of forecasts by Joseph Spak of UBS Group AG, who lowered his projections for both the first quarter and the entire year. Additionally, Ben Kallo, an analyst at Robert W. Baird & Co., adjusted his estimates for Tesla's vehicle deliveries on March 6.

Spak now anticipates that Tesla will deliver only 367,000 vehicles this quarter, representing a 16 percent decrease from his previous estimate. Furthermore, he no longer expects the company to achieve higher vehicle sales in 2025 compared to last year, predicting an approximate 5 percent annual decline. In contrast, analysts surveyed by Bloomberg are projecting an average increase of about 10 percent for the year, while Tesla executives have expressed optimism about a return to growth in the upcoming year.

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