The Trump administration has been promoting its close relationship with DOGE head and billionaire entrepreneur Elon Musk, now touting another one of its endeavors— Tesla. Last week, the White House briefly became a Tesla showroom, with President Donald Trump promoting the cars. Now, U.S. Commerce Secretary Howard Lutnick is joining the initiative, persuading voters to buy from the brand as its stock plummets and detractors target company assets.
Lutnick appeared on Fox News's "Jesse Watters Primetime" on Wednesday and was asked about the recent attacks from protesters in several states that have targeted Tesla dealerships, showrooms, charging stations and vehicles.
"I mean, this is just outrageous," Lutnick replied. "You have probably the best entrepreneur, the best technologist, the best leader of any set of companies in America working for America, and you have this sort of weird side of the Democratic Party attacking him."
He also urged voters to buy Tesla cars now, as it is "the future" of technology.
"[Musk] built the next generation technology," Lutnick said. "I think if you want to learn something on this show tonight: buy Tesla. It's unbelievable that this guy's stock is this cheap. It'll never be this cheap again."
Tesla's stock, however, kept falling right after Lutnick's appearance on Fox. Tesla shares were down about 1.7% in premarket trading Thursday to $231.75. The stock is down 5% in the last five days, 35% in the last month and 42% so far this year. Experts in the matter are calling the company's situation a "crisis," Axios reports.
"We struggle to think of anything analogous in the history of the automotive industry, in which a brand has lost so much value so quickly," JPMorgan analyst Ryan Brinkman said in a research note last week.
Nevertheless, Lutnuck also pointed to Musk's SpaceX company successfully bringing back the stranded astronauts from the International Space Station this week, highlighting his commitment to the country.
"Who wouldn't invest in Elon Musk? You got to be kidding," he said.
Lutnick's comment comes as the Trump administration is seemingly making a push for one of the president's closest advisor's companies. Just last week, the White House temporarily turned into a Tesla lot, with a variety of the brand's cars posing in the South Lawn and the president himself holding what resembled a Tesla showroom pitch with a list of vehicle prices. "Teslas can be purchased as low as $299/month or $35k."
"I think [Musk has] been treated very unfairly by a very small group of people, and I just want people to know that he can't be penalized for being a patriot," Trump said, referring to the rise of violent and nonviolent protests across the country against Tesla and Musk.
Trump also posted on his Truth Social site he was "going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American," calling boycotts against the company illegal.
Since then, some Republican lawmakers and personalities have joined the movement, urging supporters to purchase Musk's electric vehicles. For instance, gesturing at a Tesla in a Friday post on X, Sen. Ted Cruz (R-Texas) said: "This may be the coolest thing I've ever seen."
Similarly, Fox News host Sean Hannity hosted Musk for an interview Tuesday night, where he praised Tesla. "It's the greatest car ever invented," Hannity declared. "It really is. And I'm not just saying that."
Others have shown support for the company by denouncing the attacks on the vehicles, rather than directly encourage customers to buy the car. House Speaker Mike Johnson said on X that he would open a probe into the recent attacks. Meanwhile, other GOP members, including Georgia Rep. Marjorie Taylor Greene called the Justice Department and FBI to examine the attacks and any linkages to "Democrat-leaning NGOs."
© 2025 Latin Times. All rights reserved. Do not reproduce without permission.
