• President Donald Trump announced plans to purchase a new Tesla Model S as a show of support for Elon Musk and Tesla, following a 15 percent stock price drop –  Tesla’s worst single-day decline in nearly five years.
• Trump accused “radical left lunatics” of orchestrating an “illegal” boycott against Tesla, vowing to label violence against Tesla showrooms as domestic terrorism in response to protests and vandalism.
• Tesla faces a growing boycott fueled by concerns over Musk’s controversial DOGE initiative, declining global sales (e.g., a 76.3 percent drop in Germany), and investor unease as board members sell shares.
• Tesla’s stock decline is attributed to broader market fears, Trump’s proposed tariffs, and Musk’s $29 billion single-day net worth loss, though he remains the world’s richest person.
• Activists have targeted Tesla dealerships, urging divestment and, in some cases, resorting to vandalism, prompting Trump to pledge a crackdown on what he termed “domestic terrorism.”

President Donald Trump has revealed his plans to purchase a brand new Tesla, one day after Tesla suffered its worst single-day stock price drop in nearly five years, with shares plummeting 15 percent on March 10.

During a press conference on the White House driveway on March 11, where he stood alongside Elon Musk and Musk’s young son, he accused the “radical left lunatics” of orchestrating an “illegal” boycott against Musk’s electric vehicle company. (Related: Tesla recalls over 27,000 Cybertrucks due to safety issue involving rearview cameras.)

The president also vowed to label violence against Tesla showrooms as domestic terrorism, responding to a reporter’s question about recent protests and vandalism at Tesla dealerships across the country.

“I will do that. I’ll do that,” Trump said. “I’m going to put a stop to it. Because they’re harming a great American company.”

Trump’s comments echoed a post he made earlier in the day on his Truth Social platform, where he praised Musk as a patriot and criticized the boycott campaign against Tesla.

“Elon Musk is ‘putting it on the line’ in order to help our Nation and he is doing a FANTASTIC JOB! But the Radical Left Lunatics, as they often do, are trying to illegally and collusively boycott Tesla, one of the World’s great automakers, and Elon’s ‘baby,’ in order to attack and do harm to Elon, and everything he stands for,” Trump posted earlier that day.

Several Tesla vehicles were displayed for Trump to choose from, and he ultimately selected a red Model S, which he said he would pay for by check. “In any event, 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. Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN???” he said.

TESLA boycott gains momentum amid Musk’s DOGE controversy, stock plunge and global sales slump

The boycott against Tesla has gained momentum in recent months, fueled by growing concerns over Musk’s influence in the federal government and his controversial Department of Government Efficiency (DOGE) initiative.

DOGE, which Musk has touted as a cost-saving measure, has been criticized for its lack of transparency, false claims about canceled contracts and minimal evidence of actual savings. Critics argue that Musk’s involvement in federal affairs has created conflicts of interest and undermined public trust.

Tesla’s stock decline on March 10 was also attributed to broader market fears of a potential recession and Trump’s proposed tariff plans, which could impact the auto industry. The company’s shares have fallen every week since Trump took office, and Musk’s net worth has taken a significant hit, dropping by $29 billion in a single day and $132 billion over the past year. Despite this, Musk remains the world’s richest person, with a fortune estimated at over $320 billion.

But the boycott has had tangible effects on Tesla’s business, with vehicle sales abroad declining sharply. In Germany, for example, Tesla sales dropped by 76.3 percent in February 2025 compared to the same period in 2024. Additionally, Tesla board members, including Musk’s brother Kimbal Musk, have sold millions of dollars worth of shares in recent months, further eroding investor confidence.

Moreover, the protests against Tesla have not been limited to financial markets. Activists have targeted Tesla dealerships, urging the public to sell their Tesla vehicles and divest from the company. Some protesters have even resorted to vandalism, prompting Trump’s pledge to crack down on what he called “domestic terrorism.”

“We already know who some of them are. We’re going to catch them, and they’re bad guys,” Trump said during the press conference.

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Sources include:

TheGuardian.com 1

TheGuardian.com 2

Brighteon.com