Tesla (TSLA) CEO Elon Musk has recently expressed his support for Donald Trump's potential reelection in 2024, even going so far as to pledge a $45 million monthly donation to a Trump Super PAC. This display of support has raised questions about how it may impact Tesla's sales moving forward. Gabelli Funds portfolio manager Brian Sponheimer joins Catalysts to discuss the potential implications.

Sponheimer notes that initially, Tesla buyers supported the brand because of Elon Musk's vision for an all-electric future. However, as the market has shifted and EV demand slowed due to concerns over affordability and accessibility, Sponheimer acknowledges that the impact on sales from Musk's support of Trump "remains to be seen."

Trump's running mate, Senator JD Vance (R-Oh.), has been a critic of electric vehicle subsidies, which he aims to eliminate in his proposed "Drive American Act."

While he doesn't think "it's too concerning," he does believe that most companies tend to avoid taking strong political stances. As the election approaches, Sponheimer states he will be keeping a close eye on the situation to see how it unfolds.

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This post was written by Angel Smith