US President Donald Trump has declared his intention to “procure a brand new Tesla” amidst a significant decline in the electric vehicle manufacturer’s stock, which plummeted by over 15%. He attributed this downturn to the machinations of “radical left lunatics,” whom he accuses of orchestrating a boycott to undermine Tesla’s proprietor, Elon Musk.

However, stock market analysts contend that the principal rationale behind this dismal stock performance can be traced to apprehensions regarding Tesla’s ability to fulfill production commitments and a marked decrease in sales over the preceding year. Furthermore, Trump’s economic strategies, particularly concerning tariffs, have instigated investor unease.

On a turbulent Monday, US markets experienced a downturn as investors, grappling with the ramifications of Trump’s tariffs, divested from shares, which adversely affected major technology firms. Specifically, Tesla’s stock recorded a staggering drop of 15.4%, compounded by a UBS analyst’s cautionary forecast that anticipated considerably lower delivery figures for Tesla this year.

In a bid to bolster Tesla’s sales, Trump utilized his Truth Social platform, urging “Republicans, Conservatives, and all great Americans” to rally behind Musk. Nonetheless, Trump’s administrative actions thus far have conspicuously obstructed electric vehicle adoption, including rescinding a directive from former President Biden aimed at ensuring that electric vehicles would constitute half of all car sales by 2030, as well as the cessation of unallocated government funds for charging infrastructure.

Despite his proclamations of support, analysts, such as Linsay James from Quilter Investors, assert that while Musk’s controversial political affiliations may deter some consumers, robust market data underpin the stock’s decline. The precipitous drop in Tesla’s orders—reportedly halving in both Europe and China—reflects a more complex narrative bearing implications beyond mere political discourse.