The president stated that he would buy one of these cars, whose sales have plummeted in Europe so far this year. Shortly after acknowledging the possibility of a recession, which caused one of the worst days in recent years for the US stock market on Monday,

Elon Musk, the company’s chief executive, is fast losing out to Chinese electric carmakers in Tesla’s second-most-important market.

Tesla is set to unveil a more affordable vehicle in the first half of 2025. Details are scarce, but new reports say it could take after the Model Y.