Trump, the new Tesla salesman!

I couldn’t believe my eyes this week… Trump and Musk, side by side in a Tesla at the White House. Trump, a first-class EV-hater, buying a Tesla for show from his new best friend Musk. And of course, Trump couldn’t resist voicing his complaints: falling Tesla sales, protests at the showrooms, and the plummeting stock price – all “unfair” to his buddy Elon.

Not a Tesla fan

I’ve never been a big Tesla fan, but you should never underestimate Musk as a businessman. People often say – and rightly so – that business and politics should stay separate. Especially in a deeply polarized country like the US, where 50% of the population will turn against you the moment you show your true colors.

But what’s happening now with Musk and Tesla is unprecedented. No brand in the world has ever been embraced so passionately by those striving for a sustainable and honest future. And yet, Tesla has unintentionally become a political statement – a ‘fuck you’ – all because of its CEO. The fact that Trump now has to step into the role of car salesman to boost Tesla’s stock says it all. Working with Trump is clearly costing Musk dearly: money, reputation, and market share.

Never underestimate Musk…

There’s a reason Musk became so successful, and he undoubtedly has a plan to reshape the rules in his favor – especially now that he’s essentially acting as America’s co-president. Self-driving Teslas will probably get more freedom and fewer restrictions, and NASA will likely pour even more billions into his rockets. But Tesla itself? That shine is fading fast.

The stock price – once 83 times earnings (!) compared to, say, Volkswagen’s 4x – was already insanely high. A correction was inevitable. But the real blow is yet to come. More companies will remove Tesla from their fleets, sales will continue to drop, and under that pressure, Tesla may be forced to lower new car prices. And we all know what that means for residual values and the remarketing channel.

Leasing companies

Leasing companies will start adding surcharges simply because Tesla is becoming a less reliable brand. And with that, the downward spiral will only accelerate. Tesla is becoming a textbook case of how power can lead to the abuse of that very same power. We live in fascinating, yet dangerous times – especially now that the most powerful man in the world is moonlighting as a car salesman.