Tesla Faces Market Turmoil as Trump Pledges Support for Elon Musk

Donald Trump announces plans to buy a Tesla after the company's stock plunges 15%, citing boycotts and declining sales tied to Musk's political affiliations.

Tesla's stock dropped over 15% on Monday, marking its steepest decline since 2020, and its valuation has halved since December 2024.
The company is grappling with declining sales in key markets, including a 49% drop in China and significant decreases in Europe, despite overall growth in electric vehicle demand.
Donald Trump, a close ally of Elon Musk, announced plans to buy a Tesla vehicle to show his support, blaming 'radical left' boycotts for the company's struggles.
Tesla has faced acts of vandalism, including arson targeting vehicles and charging stations in the U.S. and France, linked to opposition against Musk's political stances.
The company continues to lead the electric vehicle market but is navigating challenges from a model lineup shift and increasing competition from rival automakers.