Trump plans to buy a Tesla to support Musk

economictimes.indiatimes.com

US President Donald Trump plans to buy a new Tesla to support CEO Elon Musk amid financial struggles. Tesla shares recently fell 15%, marking the largest drop since September 2020, as production issues and declining demand impact the company. Musk's political endorsements have led to significant sales declines in key markets. In Germany, Tesla registrations dropped 70% in early 2025, while shipments in China fell 49% in February, as domestic competitors gain market share. Protests against Musk's policies have occurred across the US, with some vandalism reported at Tesla locations. The company faces increasing competition in the electric vehicle market, contributing to its first anticipated annual sales decline.


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