A White House official confirmed the president’s intentions following a public feud with the Tesla CEO that rattled markets and sent Tesla shares tumbling 14% on Thursday.
President Donald Trump is considering selling his red Tesla Model S, just three months after publicly purchasing it in a show of support for Elon Musk.
A White House official confirmed the president’s intentions following a public feud with the Tesla CEO that rattled markets and sent Tesla shares tumbling 14% on Thursday.
Trump selected the $80,000 Model S during a White House event in March, describing it as “a great product” and lauding Musk as someone “devoted to doing this” who had been “treated very unfairly.”
But tensions escalated this week when Musk criticized Trump’s “big, beautiful” tax bill. In response, Trump labeled Musk “crazy” and suggested ending federal contracts and subsidies tied to his companies.
“What’s happening is ridiculous,” Trump reportedly said privately.
Tesla stock recovered slightly Friday but remains down 20% year-to-date.
“If Trump does sell, he should act quickly,” said an auto market analyst, noting declining resale value of Model S vehicles.
Musk has not commented.
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