For Sale (Maybe): Trump's Red Tesla — Low Miles, Almost New
A Tesla automobile owned by President Donald Trump (he does not drive it, but some staffers do) is parked in a lot next to the White House fence Thursday.
Searching for a hardly sat-in luxury EV in cherry red? The president might be willing to cut you a deal.
A day after his public spat with Elon Musk, the White House signaled Friday that President Donald Trump might be joining the ranks of buyers with Tesla remorse and surrender the keys to his nearly new Model S.
Trump bought the sedan in March, calling it 'a great product, as good as it gets' to show his support for the Tesla CEO. The gesture was meant to counter some of the public backlash to Musk's involvement with the U.S. DOGE Service, some of which was funneled toward Tesla dealerships, charging stations and even some car owners in the form of vandalism and protests.
Trump's unorthodox car show on the South Lawn of the White House in March marked the apex of his cozy relationship with the billionaire, who spent at least $288 million to help return him to the Oval Office. Because U.S. presidents and vice presidents are prohibited from driving on public roads, Trump's purchase of the Tesla was more symbolic than functional.
But fissures in their relationship emerged soon after Musk exited DOGE, blowing up in spectacular fashion Thursday as the two exchanged a barrage of threats, digs and accusations on social media. Now that the alliance is apparently over, a senior White House official said Friday that Trump is thinking of selling the luxury EV that Car and Driver says retails from $80,000 to more than $100,000.
If he did, he'd be among the wave of Tesla owners unloading their cars. Trade-ins surged in March as Musk and DOGE moved to dramatically cut the federal workforce. The buyers who once proudly touted their Teslas had soured on the cars, dampening the company's performance.
Given the provenance of Trump's Model S, it may sell for a collector's bounty. But if it were subject to the traditional used-car market, it might go for far less than its MSRP.
The TrueCar online marketplace on Friday listed one 2024 Model S for sale within 500 miles of Washington, with just 4,760 miles on the odometer, and an asking price of $54,980 – 28 percent below the 2024 MSRP listed in Car and Driver.
By comparison, prices for 2024 electric BMW i5 vehicles with 4,000 to 5,000 miles were about 13 percent below their MSRP.
Tesla stock has hit some bumps; its shares fell nearly 14.7 percent this week and are now down more than 26.8 percent year-to-date, according to MarketWatch.
In the first quarter, the company recorded its largest drop in deliveries in history, coming in 50,000 units below last year. This week, Goldman Sachs lowered its second-quarter vehicle delivery estimates for Tesla, pointing to 'demand/brand issues' turning off consumers in U.S. and European markets.
Dan Ives, managing director at Wedbush Securities and a longtime Tesla bull, said the 'major beef' between Musk and Trump has been 'a shock to the market' that puts 'major fear' into the hearts of Tesla investors as they consider how far the feud might go.
'This must start to be calmed down on the Musk and Trump fronts,' Ives said in commentary Thursday. 'It's not good for either side.'
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