‘Extraordinary Moment!’ CNBC Reporter Stunned By Trump Mobilizing ‘Whole of Government Approach’ to Prop Up Tesla

CNBC Washington Correspondent Megan Casella called out the “extraordinary moment” in which President Donald Trump’s administration rallied a “whole-of-government approach to shore up Tesla” amid protests against Elon Musk and a tanking stock price.

Amid outrage over Musk and DOGE, Trump held an extended photo op at the White House promoting Tesla vehicles last week, and Trump Commerce Secretary Howard Lutnick pumped Tesla stock to Fox News viewers.

But backlash to the brand has continued to tank the company’s stock price and precipitated a wave of protests, as well as vandalism that includes setting the cars on fire at dealerships.

On Thursday’s edition of CNBC’s The Exchange, anchor Kelly Evans tossed to Casella live at the White House just after news of the recall broke and asked about the White House’s response to the protests and turmoil.

Casella noted that it’s not just Trump and Lutnick rallying around Tesla:

KELLY EVANS: Tesla shares are on track for another down week, losing about 6% since Monday. That could extend its record losing streak to nine straight weeks dating right back to the inauguration.

And that plus protests at dealerships around the country is even getting the White House’s attention. Megan Casella has the latest from Washington. Megan?

MEGAN CASELLA: Kelly, that’s right. Against that backdrop of the falling stock, officials across the Trump administration have really been working to support the company.

And the latest and perhaps the clearest example came late last night when Commerce Secretary Howard Lutnick urged viewers in a television interview to buy Tesla stock.

He said, “If you want to learn something on this show tonight, buy Tesla,” going on to say it was unbelievable how cheap the stock was and adding it will never be this cheap again.

So really an extraordinary moment there of a cabinet official, and one who spent decades on Wall Street, recommending the stock of a company run by a fellow member of the administration.

And it’s not the first time we’re seeing something like this. It was just last week. President Trump rode around in and then purchased a Tesla on the White House South Lawn to show his support for Elon Musk.

And since then, as protests against Tesla and against Tesla owners have erupted across the country, other agencies are getting in on the aggressive approach.

Attorney General Pam Bondi this week. calling the protests nothing short of domestic terrorism. She’s vowing severe consequences for anyone involved.

And the newly installed FBI Deputy Director, that’s Dan Bongino, he says the Bureau is actively working to investigate these incidents as well.

So Kelly, it all amounts here to what has become really a whole-of-government approach to shore up Tesla as we’ve seen its stock fall so far this year. Kelly.

KELLY EVANS: Megan, thank you very much. Megan Casella.

And still more headaches for Tesla this week. A recall today that impacts nearly all 46,000 cyber trucks in the U.S. due to an issue with exterior trim panels.

Watch above via CNBC’s The Exchange.

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