A number of families of Tesla crash victims have banded together and signed a joint letter raising concerns about Elon Musk’s place in the company.
As well as being the owner of X and CEO of SpaceX, the tech billionaire still retains his position as Tesla CEO – despite also heading up the government’s Department of Government Efficiency.
Although Musk’s role as the head of the DOGE makes him a ‘special government employee’ rather than an elected official, the backlash against his cuts to the federal spend have spilled over into Telsa
It’s no coincidence that Elon Musk stepping up with the DOGE coincides with Tesla stocks plummeting. As well as wiping $800 billion of its market cap, Musk lost a jaw-dropping $29 billion in a single day.
Seven families have signed the letter raising concerns over Tesla’s future (Andrew Harnik / Staff / Getty)
President Donald Trump has tried to sweep the increasing Tesla boycott under the rug, even turning the front of the White House into his own Tesla showroom and stumping up for a brand-new Tesla Model S. This caused a stir in itself, especially remembering the Model S has had 37 safety recalls.
Even though Tesla saw a brief uptick in Tesla stocks, boycotts, vandalism, and even bullets being fired at Tesla dealerships continue to paint the EV brand in a negative light.
Things are only getting worse, as the families of seven people who were seriously injured or killed in Tesla incidents involving self-driving technology have written to the Transportation Department.
As noted by Politico, the letter calls for Transportation Secretary Sean Duffy to address the potential involvement of the Trump administration in the running of Tesla.
Their concerns include the idea that the POTUS could repeal a rule that requires automobile companies to report crashes that involve advanced driver assistance technologies and automated driving systems: “We are deeply concerned that NHTSA’s oversight of autonomous vehicle (AV) systems may be weakened.
“We fear this important measure is under threat given recent media reports and the influence of Tesla CEO Elon Musk, whose company operates the most widely used [advanced driver assistance technologies] in America.”
Tesla has to answer to the National Highway Traffic Safety Administration, which still has powers to recall vehicles. It’s reported that several NHTSA employees have been culled by Elon Musk’s brutal cull of probationary employees, and although there are plans to bring them back, the Department of Transportation is bracing for more layoffs.
It’s true that Tesla’s ‘Full Self Driving’ system was scrutinized under the Biden Administration, whereas there were earlier reports that Trump’s transition team were looking at removing the crash report requirements.
The signatories write: “The deaths of our loved ones were preventable. As Secretary, you have the power to ensure these tragedies are not repeated. By maintaining strong federal safeguards, you can prevent more families from having to face the same heartbreak we have endured.”
A Department of Transportation spokesperson reiterated that Duffy’s “heart goes out to the victims’ families, and he takes their concerns seriously.”
It concluded: “As the Secretary made clear during his confirmation hearing, he is committed to allowing NHTSA’s investigators to follow the evidence and operate objectively…
“The agency will continue to enforce the law on all manufacturers of motor vehicles and equipment in accordance with the Vehicle Safety Act and the agency’s data-driven, risk-based investigative process.”
Featured Image Credit: Andrew Harnik / Staff / Getty
Financial experts warn Trump’s Tesla stunt on White House lawn could seriously backfire
Many fear the brand is turning into a political symbol
Donald Trump’s public endorsement of Elon Musk’s Tesla may have given the company a temporary boost.
But, financial experts warn it could do more harm than good in the long run.
On Tuesday (11 March), Trump publicly backed the world’s richest man, praising him and calling him a ‘patriot’ as five Teslas were lined up in the White House driveway.
Tesla investors cheered as the president announced that he even purchased a brand-new Tesla for himself – a move that seemed to briefly lift investor confidence.
But experts warn the unusual presidential backing is turning the electric car marker into a political brand.
“Tesla is becoming a political symbol of Trump and DOGE, and that is a bad thing for the brand,” said Wedbush Securities financial analyst Dan Ives, referring to the advisory group in charge of cutting government spending led by Musk. “You think it’s helping, but it’s actually hurting.”
Andrew Harnik / Staff / Getty
Although suffering a 15% drop the day before – and possibly the worst single day sell-offs in Tesla’s history a day earlier – Tesla stock ended Tuesday (12 March) up nearly 4%.
But even before Trump’s endorsement, Tesla has been facing a rough year so far. For one, falling global sales in 2025 have led to shares dropping to 45%.
The EV company has also been hit hard by rival companies, especially from Chinese electric vehicle (EV) manufacturers.
Several auto industry analysts have also pointed to Musk’s close ties to Trump and right-wing politics – a point that some believe led to the protests at US Tesla showrooms and reports of vandalised vehicles on the streets.
Meanwhile, consumers worry that CEO Musk’s heavy involvement in politics is taking his focus away from Tesla, which could lead to fewer deliveries and profits in 2025.
As the head of the Department of Government Efficiency (DOGE), Musk has promised massive federal worker layoffs and aims to drastically reduce government spending by $2 trillion.
Andrew Harnik / Staff / Getty
Furthermore, the drop in Tesla stock could create further financial challenges for the company.
First, discounted employee stock was used as a way to incentivise Tesla workers to invest in the company. But with the stock so low, many of those ‘discounted’ shares are now worth more than the current market price – so the whole incentive is made meaningless.
Second, the stock drop could make it harder for Tesla to raise capital. In 2020, the company sold $12 billion worth of shares to help fund factories in Berlin and Texas and invest in self-driving technology. A lower share price means Tesla would get less funding if it tried to raise money through new stock offerings.
Featured Image Credit: Alex Wong / Staff / Getty
Shocking amount Tesla stock has risen by after Donald Trump turned White House lawn into Tesla showroom
It comes after a historic drop in the company’s stocks
Tesla stock has reacted after Donald Trump and Elon Musk turned the White House lawn into a ‘Tesla showroom’ yesterday.
Full-time President of the United States, part-time Tesla salesman, it seems Donald Trump is trying to do it all. While the POTUS once said that electric vehicle owners can ‘rot in hell’, it was all smiles as President Trump sat behind the wheel of his new red Tesla Model S in front of the White House. Turning his office into its very own Tesla showroom, Trump stood firmly by Tesla’s side and defended the electric vehicle brand over recent controversy.
Alongside some vowing to boycott Tesla, others have taken it further by damaging vehicles and electric chargers, while police in Oregon confirmed a dealership was damaged by gunfire during a recent anti-Tesla protest.
Musk and Trump represented a united front when promoting Tesla in front of the White House (Andrew Harnik / Staff / Getty)
It’s true that the President once owned a Tesla Roadster, but in the aftermath of rolling back the Biden administration’s EV plans, you might not think he’s Tesla’s No. 1 fan. Of course, the closeness of Elon Musk to the White House and the endorsement of Trump suggest it’s in everyone’s interest to try and keep Tesla’s wheels greased.
The President has said those who are targeting Tesla will be dealt with as ‘domestic terrorists’, and although Tesla stocks have taken a recent beating, it seems Trump’s sales pitch is working.
March 10 saw Tesla wipe $127 billion off its worth in a one-day ‘market bloodbath’ – marking its worst recordings since 2020. In general, Tesla stocks are down 50% since December 2024. Since peaking on December 17, Tesla has recorded seven straight weeks of losses, knocked around $800 billion from its market cap, and lost its trillion-dollar status.
Considering Trump entered the White House on January 20 and Musk has cemented himself as a key member of his counsel, it feels like more than a bit of a coincidence that Tesla stocks have started to tumble during this period.
There’s been some bounce back, with TSLA stocks rising by 3.79% in the past 24 hours.
Speaking at the White House event, Musk was looking at the future of Tesla and cheered: “As a function of the great policies of President Trump and his administration, and as an act of faith in America, Tesla is going to double vehicle output in the United States within the next two years.”
Tesla stocks are slowly climbing from their recent lows (Google)
Could this be the start of Tesla’s return to form? Morgan Stanley analyst Adam Jonas left a note to clients, telling potential investors now’s the time to buy: “Tesla shares have fallen 50% from the Dec 17th highs (and down 45% YTD) on poor sales data, negative brand sentiment, and market de-grossing. We see the pullback as a buying opportunity for an embodied AI compounder.”
Jonas points to upcoming ‘milestones’ like the robotaxi testing in Austin, an update on Tesla’s Optimus robots, and new federal rules on regulating autonomous vehicles as key deciders for Tesla stock.
Even though the stocks are back on the incline, Wedbush Securities financial analyst Dan Ives has warned that associating Tesla with the Trump administration could be bad for the brand in the long run.
Trump has suggested that a Tesla boycott is ‘illegal’, although that’s not actually the case. Either way, the President and Mr. Musk are doing everything in their power to ‘make Tesla great again’.
Featured Image Credit: Andrew Harnik / Staff / Getty
Donald Trump says people who ‘mess with’ Tesla will be put ‘through hell’ as he turns White House into Tesla showroom
Don’t mess with Musk
There’s plenty of unrest in both Washington and the stock market, with Tesla taking a hit due to the controversial nature of Elon Musk.
The self-appointed ‘First Buddy’ is firmly by the side of President Donald Trump, and while he remains steadfast in his mission to cut $2 trillion from federal spending, many are asking, at what cost?
We’ve seen Tesla stocks tumble in recent weeks, while Musk himself lost $29 billion in a single day.
While he’s still far and away the richest man in the world, a defeated-looking Musk has defended his role as the head of the DOGE.
Those close to Musk have rallied behind Tesla, with Maye Musk calling out a recent spate of vandalism against the EV brand. President Trump has also defended ‘Elon’s baby’ and vowed to buy a brand-new Tesla in an attempt to boost the automobile maker’s popularity.
Trump has vowed to make Tesla ‘great’ again (The Washington Post / Contributor / Getty)
Briefly turning the White House into a Tesla showroom, Trump did his best to boost the brand as he appeared outside the iconic building with Musk and his cars firmly by his side. Saying that those damaging Teslas will be treated as ‘domestic terrorists’, the POTUS went on to refer to Tesla as “a great American company” and promised to put vandals ‘through hell’. Posing in front of several Tesla models and a beefy Cybertruck, Trump was seen holding a price list for all the various models.
When asked about whether those targeting Tesla are ‘domestic terrorists’, Trump continued: “I’ll do it. I’m going to stop them… because they’re harming a great American company. I’ve stuck up for a lot of American companies.
“I do favors for all… when you heard an American company, especially a company like this, applies so many jobs that others are unable to do, when you do that, those people are going to go through a big problem when we catch them.”
Saying that they’ve got a lot of cameras up, Trump claims he already knows who some of these people are: “We’re going to catch up, and they’re bad guys. They’re the same guys that screw around with our schools and universities. The same garbage.
“And no, we’re going to catch them, and let me tell you, you do it to Tesla, and you do it to any company. We’re going to catch you, and you’re going to go through hell.”
Trump has also referred to the Tesla boycott as ‘illegal’, which actually goes against the Supreme Court’s 1982 ruling that the First Amendment protects an American’s right to protest private businesses.
It seems that Tesla’s stocks have had a slight boost in the aftermath of Trump’s sales pitch, although Baird analyst Ben Kallo explained the bigger picture to CNBC’s “Squawk on the Street”. Kallo said: “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.”
Tesla shares were up 3.8% on March 11, which should help regain some ground from a historic March 10 drop of 15% – giving TSLA its biggest one-day drop since 2020.
We’ll have to wait and see whether this impressive Tesla sales pitch works or things continue going up in (literal) flames for ‘Elon’s baby’.
Featured Image Credit: Andrew Harnik / Staff / Getty
Donald Trump’s new $90,000 Tesla has 37 safety recall notices against it
It’s not like he can drive it anyway
We don’t imagine many of you had the front lawn of the White House being turned into a Tesla showroom with its own sales pitch on your 2025 bingo card.
Then again, we don’t imagine Elon Musk taking to the stage with a gilded chainsaw or RFK promoting Vitamin A to combat measles were on their either.
President Donald Trump has warned that those who mess with Tesla will be dealt with as domestic terrorists, although others have warned that aligning the POTUS with the electric vehicle brand could be bad for all involved.
With Tesla stocks taking a worrying hit and Elon Musk losing $29 billion from his net worth in a single day, the President swooped in and even got behind the wheel of a shiny red Tesla Model S. The Commander-in-Chief had already vowed to buy a Tesla, and seemingly staying true to his word, he said he’d hand over the expected $90,000 to have one.
The President promised to buy a new Tesla (Tesla)
However, Wired points out that the President’s new motor has faced some 37 recalls due to safety complaints.
The site reiterates that while the Model S boasts some beefy 1,020 horsepower and can race from zero to 60 in 1.99 seconds, it’s also got a questionable log book.
Trump’s specific car is the ‘Plaid’ version Model S, which has improved acceleration and gets its namesake from a nerdy pop culture reference.
The Plaid editions are named after a moment in Mel Brooks’ Spaceballs where ships hit ‘Ludicrous Speed’ and a plaid-patterned effect appears.
Unfortunately for the Tesla Model S vehicles, there have been 37 U.S. Department of Transportation, National Highway Traffic Safety Administration recalls.
The most recent was in January 2025, with a mention that the “computer circuit board may short, resulting in the loss of the rearview camera image,” and this could lead to an increase in crashes. Trump himself became a memeworthy soundbite when he sat in the Model S and said, “Everything’s computer.”
The POTUS was impressed with the tech in his new motor (The Washington Post / Contributor / Getty)
Previous reports include problems with everything from the airbags to power-steering assist, door handles, brake discs, and even the Model S’ much-hyped self-driving feature.
In 2023, Tesla issued a voluntary recall for all models using the Full Self-Driving feature. Issues included not properly stopping at a stop sign, speeding, and making unexpected lane changes.
It should be noted that an increase in the futuristic tech found in modern vehicles means recalls for major brands like BMW and Chrysler have also been on the up in recent years.
One thing not on the up is Tesla sales.
Despite Trump’s Tesla showcase leading to a nearly 4% surge in stocks, the numbers speak for themselves, as Tesla sales are 76.3% down compared to February 2024. Although there’s been an anomalous 20% rise in the UK compared to the same month last year, the continued Tesla boycott and animosity toward Mr. Musk look like they’re starting to take a toll on the bottom line.