President Donald Trump paraded Tesla electric vehicles outside the White House on Tuesday in support of “great patriot” Elon Musk.
The billionaire’s car company has seen its share price slump in recent days on the back of fears over the Trump administration’s handling of the economy. Tesla sales are also tanking as would-be buyers balk at Musk’s haphazard slash-and-burn approach to the federal government via his so-called Department of Government Efficiency.
Tesla is doing no better internationally. Its sales in Germany were down 76% in February compared to a year earlier, potentially as a result of Musk appearing to give a Nazi salute at Trump’s inauguration.
Sales are also skidding in China, where shipments are down 49% year over year.
In an ethically questionable move, Trump appeared to use the office of president — and the iconography of the White House — to give Musk a boost and make good on a promise to buy a Tesla, which retails for roughly $80,000.
Photographers captured a note in Trump’s hand during the event that suggests he was reading notes from a Tesla sales pitch.
Trump argued it was “very unfair” that the markets “want to penalize” Musk because of his attempts at federal government cost-cutting.
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“I just wanted to make a statement. I’m going to buy one now,” the president told reporters before adding that the red sedan would be used by White House staffers.
Trump suggested he was “not allowed to drive because I haven’t driven a car in a long time.”
