Zinger Key Points
- Trump bought a Tesla vehicle to help show support for the EV company and its CEO Elon Musk.
- Rules prevent current and past presidents from driving vehicles on public roads.
- Feel unsure about the market’s next move? Copy trade alerts from Matt Maley—a Wall Street veteran who consistently finds profits in volatile markets. Claim your 7-day free trial now.
President Donald Trump announced Wednesday he was buying a red Tesla Model S vehicle from Tesla Inc TSLA during a White House event.
The purchase was done to help Tesla CEO Elon Musk and drew plenty of attention to the car company, despite the fact that Trump will not be able to drive the electric vehicle.
Presidential Rules
The Former Presidents Act of 1958 and the death of President John F. Kennedy in a vehicle in 1963 have put an increased emphasis on Secret Service driving presidents and former presidents due to their training on maneuvering potential attacks.
As a result, current and former presidents and vice presidents are forbidden from driving vehicles on public roads. This has led some to argue for exemptions in special cases.
Trump's predecessor, Joe Biden, made his love of automobiles known over the years. That includes his particular love of his 1967 Corvette Stingray — a wedding gift from his father.
Biden previously told comedian Jay Leno that he was once offered $144,000 for the vehicle, but refused to sell it due to family memories and sentimental value.
“I just love cars, don’t know a damn thing about the engines. I don’t know anything about it. I just know how to drive ‘em and I love it,” Biden said.
The Corvette was featured in an episode of “Jay Leno’s Garage,” where Biden got special permission to drive it.
“I owe you big,” Biden told Leno on the show. “You realize this is only the third time I’ve gotten to drive this in seven years?”
While serving as president comes with many accolades and privileges, Biden once said the lack of driving capabilities was one of the biggest negatives.
“There are a lot of reasons to run for president, but there’s one overwhelming reason not to run for president,” Biden previously joked. “I like to get that [Corvette] Z06 from zero to 60 in 3.4 seconds.”
Biden also previously drove a Ford F-150 Lightning electric pickup truck at a Ford Motor Company F acility in Michigan with special permission.
Barack Obama admitted in interviews that he drove a vehicle around the White House property, which presidents are allowed to do. And George W. Bush told Leno in 2017 that he hadn't driven on a public road in around 25 years, but often drives on his private Texas ranch.
Trump's Support For Tesla
Trump announced he was buying the new Tesla vehicle to support his ally Musk, which comes amid mounting protests and boycotts against Tesla.
"He shouldn't be penalized," Trump said of Musk.
Tesla’s sales have dropped sharply in recent weeks, accompanied by demonstrations and vandalization against the company’s vehicles, dealerships and charging hubs, according to ABC News. Declining sales are evident not just in the U.S., but also throughout Europe, China, and Australia.
When asked if buying a Tesla would help boost Tesla’s share price, Trump said, "Well, I hope it does.”
A picture of Trump with notes shows prices and specs for various Tesla models and talking points in a potential sales pitch for the various Tesla vehicles shown off at the White House event.
Trump, who offered to pay full price for the Model S, sat in the vehicle to see some of the EV’s features.
"Now, here's the bad news: I'm not allowed to drive because I haven't driven a car in a long time, and I love to drive cars. But I'm going to have it at the White House, and I'm going to let my staff use it. I'm going to let people in the place use it, and they all are excited about that," Trump said, as reported by Newsweek.
Trump's event may spark a rise in interest in Tesla vehicles and a potential sales boost. Google Trends showed searches for Tesla in the U.S. at a 12-month high.
This wasn't the first time Trump promoted an electric vehicle company at the White House. In 2020, Trump highlighted the Lordstown Motors Endurance pickup truck at an event to highlight jobs brought back to Lordstown, Ohio, which were lost by the closure of the former General Motors plant.
"This is a really unique thing because the four wheels are — hub motor, hub motor — this is the only one that does this in the world. It has a lot of advantages," Trump said of the Endurance.
Lordstown Motors filed for bankruptcy in 2023.
Read Next:
Image: Shutterstock
Edge Rankings
Price Trend
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.