Elon Musk’s Tesla Suffers Single Worst Day Sell-Off

Tesla continues to pay the price for Elon Musk’s close support of US president Donald Trump, his activities at DOGE, his support of far right causes, as well as intense competition from Chinese rivals.

On Monday Tesla’s share price tumbled more than 15 percent to $222.15, the lowest since late October, reflecting investor pessimism as sales of its EVs plummet.

Tesla’s shares have fallen 45 percent in 2025 alone. As of Tuesday afternoon, Tesla shares are around $224.15.

Trump support

But Elon Musk has gained support from Donald Trump on Tuesday, after Trump posted on Truth Social “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.”

“To Republicans, Conservatives, and all great Americans, Elon Musk is ‘putting it on the line’ in order to help our Nation, and he is doing a FANTASTIC JOB!” Trump posted. “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.”

“They tried to do it to me at the 2024 Presidential Ballot Box, but how did that work out?” Trump added. “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???”

Some observers argue that the average Tesla buyer is not typically found among Donald Trump’s support base (demographically speaking), as Tesla EV buyers tend to be more progressive leaning with concerns about the environment and burning of fossil fuels.

Elon Musk and Tesla thus appears to be facing something of backlash from customers – some of whom have reportedly sold their Tesla or halted a purchase of a Tesla EV.

This comes in response to Elon Musk’s political rhetoric that has triggered a recent number of protests at Tesla stores and service centres, and left wing activists even projected an image of Elon Musk’s infamous raised-arm salute and the word “Heil” onto the outside of his Tesla plant in Germany.

As well as protests at Tesla dealerships, there have also been reports of vandalised Tesla vehicles and dealerships.

Musk’s difficulties

Musk acknowledged the hit to his businesses in an interview Monday.

Musk reportedly said he was running them “with great difficulty” because of his high-profile role with this administration. He was quoted by CNBC as telling Fox Business that as head of DOGE, “you’re giving up your other stuff.”

“When people’s cars are in jeopardy of being keyed or set on fire out there, even people who support Musk or are indifferent Musk might think twice about buying a Tesla,” Baird analyst Ben Kallo said Monday on CNBC’s “Squawk on the Street.”

Musk confronted

Trump’s comments come after media reports of a fiery showdown between Musk and two Cabinet secretaries.

Elon Musk last week had for a second time attended a cabinet meeting, despite not being an elected official, and he was called a “liar” by two members of Donald Trump’s cabinet.

After that meeting, Trump announced a limit to Musk’s authority and DOGE’s power, after he told his Cabinet secretaries during a meeting Thursday that staffing decisions will be left up to them, not Elon Musk and DOGE.