Will Trump sell his red Tesla after the Musk fallout?

Washington: US President Donald Trump is reportedly considering parting ways with a Tesla vehicle he purchased earlier this year as a gesture of support for billionaire Elon Musk.

The development comes in the wake of a highly publicised dispute between the president and his former adviser.

A senior White House official told media on Friday that Trump is “thinking about it” when asked whether he might sell or gift the red Tesla Model S, which retails for around $80,000.

The vehicle remained parked on the White House grounds on Friday, according to an AFP correspondent.

Tesla shares plunge, then rebound

The feud between the two high-profile figures appears to have impacted Tesla’s performance in the stock market. On Thursday, the electric carmaker’s shares plummeted over 14 percent, wiping out nearly $100 billion in market value. However, the stock rebounded in early trading on Friday.

President Trump, who does not drive while in office, had announced the Tesla purchase in March. At the time, he said it was a move to express solidarity with Musk, a major donor whose public image has been affected by backlash over his involvement in downsizing federal employment.

Verbal spat sparks media frenzy

The clash began on Thursday when Trump, during a televised address from the Oval Office, criticised Musk for his negative remarks about a substantial spending bill presented to Congress.

“I’m very disappointed in Elon,” Trump said. “I’ve helped Elon a lot.”

The president further alleged that Musk may be missing the limelight of the Trump administration and accused the Tesla CEO of having "Trump derangement syndrome," according to the Associated Press.

Musk responds with accusations

In response, Musk hit back via social media, claiming without evidence that, Trump was mentioned in confidential government files related to Jeffrey Epstein, the disgraced financier and convicted sex offender.

Musk, who contributed $300 million to Trump's campaign, also asserted that the Republican leader would not have succeeded in the 2024 presidential election without his backing.

No reconciliation call, says White House

Speculation circulated on Friday that the two men might speak by phone to defuse tensions. However, the White House dismissed such reports.

President Trump downplayed the possibility of a conversation with Musk, stating that he was "not particularly" interested in engaging with someone he described as having "lost his mind."