As Elon Musk Goes All in on Trump, Tesla Owners Bristle

As Elon Musk Goes All in on Trump, Tesla Owners Bristle

 

On the East Side of Providence, one of the most Democratic areas of Rhode Island, Kamala Harris for President signs are prolific, and the cars in many driveways are Teslas.

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On Saturday, Tesla CEO Elon Musk appeared with Donald Trump to support the former President’s campaign in Pennsylvania. It was the first time Musk had appeared with the former president at a campaign event.

During Musk's speech at the Trump event, Musk said, "You know, the true test of someone's character is how they behave under fire. And we had one president who couldn't climb a flight of stairs and another who was fist-pumping after getting shot. Fight, fight, fight! Blood coming down the face. America is the home of the brave, and there's no truer test than courage under fire. Who do you want representing America? And I think this election is the most important election of our lifetime. This is no ordinary election."

Musk has been pouring hundreds of millions into a pro-Trump political action committee. The Wall Street Journal reported that Musk is pumping $45 million a month into the efforts to recapture the White House for Trump.

 

“I disagree With the Idea of Unions.”

According to Forbes, Musk is ranked as the richest man in the world, with a net worth of $264 billion. While his pro-Trump support has exploded in recent weeks, his politics has not. Musk has always been anti-union, actively blocking unions from organizing in his manufacturing plants.

 

 

In 2023, Musk told the New York Times Andrew Ross Sorkin during the DealBook Summit that “I disagree with the idea of unions.”

He has also said he would push to eliminate the National Labor Relations Board.

 

Celebrities and Progressives

Across the country, Tesla cars have been the darling car of many high profile progressive celebrities — including Leonardo DiCaprio, Steven Spielberg and Cameron Diaz.

Closer to home, Rhode Island politicians like former Democratic Congressman David Cicilline and State Senator Jake Bissaillon are Tesla drivers.

Cicilline has refused to comment on his Tesla.

"The bane of my existence. My car insurance is through the roof on it," said Bissaillon of his Tesla. "I want to trade it in for a Fiat!"

Some high profile Democrats have dumped their Teslas as a result of Musk’s political views, activism and contributions.

In September of 2023, U.S. Representative Alexandria Ocasio-Cortez said she was looking to trade in her Tesla because it is not union-made.

 

Musk’s Pro-Trump Stance Impacting the Tesla Brand and Sales

As Musk increases his political activism, the impact is felt on the car lots.

Data released in July from analytics firm CivicScience shows that Tesla’s favorability among Democrats has dropped to 16% as of July 16, compared to 39% in January. Among Republicans, favorability decreased to 23% from 36% in the same time period.

 

Prices Dropping

The number of Teslas now for sale on the used car website within 50 miles of Providence is growing — there are now 121.  AutoNation, another used car site has 130 Teslas listed.

“The used car market is reversing fast. The era of used cars surpassing the pricing of new ones during COVID is over. This isn’t just me chatting or pulling facts out of my rear end. The Tesla Model 3 has lost the most value of any used vehicle on the market," reports Kevin Williams of InsideEVs.