A splashy White House event was aimed at boosting the EV maker. It’s more likely to fan the flames of Tesla’s backlash than put out the fire. Shiny golden shoes that retail for $300. Branded bibles. Combat-themed cologne.

This suggests that a reaction from consumers who dislike Mr Musk’s antics are only one reason for falling sales. An updated Model Y, Tesla’s best-selling vehicle, has just gone on sale. In preparation Tesla ran down inventory of the old model, crimping supply. Customers doubtless held off purchases until the new car was available.

The president and his billionaire sidekick turned the White House into a makeshift Tesla showroom amid a recession scare—a perfect encapsulation of the Trump-Musk regime.