Trump Turns White House Into Tesla Showroom, Says Elon Musk Was 'Treated Very Unfairly' — Here's The Car He Picked For Himself - Tesla (NASDAQ:TSLA)

President Donald Trump held a private car show at the White House on Tuesday, featuring only Tesla Inc. TSLA vehicles. The event aimed to support Elon Musk amid backlash over his role in the Trump administration.

What Happened: During the 30-minute event, which was part news conference and part car commercial, Trump expressed his desire to purchase a Tesla vehicle, reported The New York Times. He pointed to a bright red Model S, stating, "The one I like is that one," and expressed his intent to buy it without a discount. Musk, standing beside the president, attempted to promote a Cybertruck, highlighting its bulletproof feature.

The scene was notable as Trump, who has previously criticized electric vehicles, used the White House setting to bump up sales for a friend and top donor. Despite his past criticisms, Trump noted that the Secret Service wouldn't let him drive the car, but he planned to keep it at the White House for staff use.

The president emphasized his support for Musk, stating, "I think he's been treated very unfairly by a very small group of people."

Why It Matters: The car show comes at a time when Tesla is facing significant challenges. The company’s stock has plummeted over 53% since December, wiping out nearly $800 billion in investor wealth. This decline has been attributed to various factors, including market volatility and backlash against Musk for his involvement with the Trump administration.

Additionally, Musk has been vocal against attacks on Tesla vehicles, calling out vandalism incidents as not being free speech. This statement was made following an incident in Brookline, Massachusetts, where Tesla vehicles were reportedly vandalized. Musk’s comments highlight the ongoing tensions surrounding the company and its CEO.

Furthermore, Trump has made controversial claims about boycotts against Tesla, blaming figures like George Soros for backing protests.

Musk has admitted that it is difficult juggling between Tesla and the Department of Government Efficiency. Investors are worried that his involvement with the department has been a distraction and is affecting his companies SpaceX, X, and xAi.

Price Action: Tesla stock rebounded on Tuesday, closing up nearly 3.8% at $230.58 during regular trading. In after-hours trading, it rose another 1.9% to $234.99, according to Benzinga Pro.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Image via Shutterstock

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