With Tesla shares plummeting, Donald Trump's decision to back Elon Musk by purchasing a Tesla car shows his loyalty.

President Trump said he would be buying a “brand new” Tesla to support his senior adviser Elon Musk, as the stock market shows shares of the electric car company tumbling. “To Republicans, Conservatives,

Trump pledges to buy ‘brand new Tesla’ in support of Musk - Tesla shares and sales have suffered amid protests and calls for a boycott over Mr Musk’s close ties with Mr Trump and far right causes.

Tesla shares closed down more than 15% on Monday, as uncertainty over Trump’s import tariffs and threats have left US financial markets in turmoil.

U.S. President Donald Trump said on Tuesday he will buy a new Tesla car to show support for the electric carmaker's chief and his ally Elon Musk amid recent "Tesla Takedown" protests and the slump in the company's stock price.

Donald Trump's support for Elon Musk's car company could end up hurting it. Tesla investors cheered Tuesday as Trump came to the defense of Musk's beleaguered and boycotted carmaker by lavishing the Tesla CEO with praise in a press conference as five Teslas lined up in the White House driveway.

Tesla shares tumbled on Monday and have fallen 45 percent this year so far. Part of the reason is Elon Musk's DOGE work for President Trump.