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Trump expresses unexpected support for Tesla

In a social media post, Trump shows support for Tesla as stock prices decline sharply.

July 24, 2025 at 04:28 PM

Trump offers support to Musk's car company in a surprising post as Tesla stock plunges

President Donald Trump unexpectedly expressed support for Tesla amid concerns over its financial performance.

Trump supports Tesla while stock prices tumble

President Donald Trump surprised many on Thursday by offering support to Elon Musk’s Tesla, despite their previous public disagreements. On his platform Truth Social, Trump wrote, "I want Elon, and all businesses within our Country, to THRIVE." However, this gesture could not prevent a significant decline in Tesla's stock, which dropped nearly 9% after the company reported disappointing financial results. For the second quarter, Tesla revealed a 12% drop in revenue and a 16% decline in profits, which Musk attributed to reduced interest in the brand due to his political actions. This downturn is compounded by competition in critical markets like Europe and China, further unsettling investors. Additionally, Trump indicated that he supports Musk and his businesses, countering concerns about looming cuts to government subsidies and contracts that Tesla relies on to maintain profitability.

Key Takeaways

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Trump's support for Tesla marks a shift in narrative amid ongoing tension.

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Tesla's stock fell nearly 9% following disappointing earnings results.

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The company reported a 12% drop in revenue and a 16% fall in profit.

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Musk acknowledged tough financial quarters ahead due to market pressures.

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Public perception of Musk's politics may harm Tesla's sales.

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Tesla is moving towards a focus on ride-sharing and robotics for growth.

"I want Elon, and all businesses within our Country, to THRIVE"

Trump's unexpected praise for Tesla to show his support for American businesses.

"We’re in this weird transition period where we’ll lose a lot of incentives in the U.S."

Musk describes the challenging phase Tesla is entering during a pivotal shift in its business model.

"The better they do, the better the USA does, and that’s good for all of us."

Trump emphasizes the importance of Tesla's success for the economy in his social media post.

"This is not so! Everyone is stating that I will destroy Elon’s companies by taking away some, if not all, of the large scale subsidies he receives."

Trump counters fears about his potential harm to Tesla by stating he wants the company to succeed.

The clash between these two influential figures, Trump and Musk, raises questions about the impact of public relations on business performance. Trump's remarks may serve to ease tensions, but investors remain wary of how political dynamics could influence Tesla's future. As competition increases and financial pressures mount, the effectiveness of this support will be scrutinized in the months to come, especially given Musk's own criticisms of recent budgetary decisions that could affect his company’s bottom line.