U.S. media: Trump's support for Tesla may backfire

2025-03-12 15:26:57

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ChainCatcher news, according to PBS, Trump stated on Tuesday that he would buy a Tesla to show support for Musk's electric vehicle manufacturer, as the company faces boycotts and even vandalism. However, if Trump's intention is to help reverse the shocking decline in Tesla's stock price, it may have the opposite effect, causing more buyers to hesitate.

Dan Ives, a financial analyst at Wedbush Securities, said, "Tesla is becoming a political symbol for Trump and DOGE, which is not a good thing for the brand." "You think this is helping, but it's actually causing harm." Many automotive industry analysts attribute Tesla's recent decline in stock and vehicle sales to Musk's support for Trump and other far-right candidates around the world. In recent days, Tesla showrooms in the U.S. have been surrounded by protesters, and Tesla vehicles have been vandalized on the streets. Tesla owners, perhaps to avoid becoming targets, have put stickers on their cars that read, "I bought before Elon went crazy."

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