Tesla reported a 71% drop in quarterly earnings, posting $409 million in Q1 2025, down from $1.4 billion a year earlier. Revenue declined 9%, and Tesla’s stock has fallen nearly 37% this year, closing Tuesday at $238 per share.
The company attributed the shortfall to declining vehicle deliveries, rising trade tensions, and growing global uncertainty. It also acknowledged the impact of President Trump’s tariffs, including retaliatory measures from countries like China, which recently raised tariffs on U.S. goods to 125%.
CEO Elon Musk addressed investor concerns about his focus on the Department of Government Efficiency (DOGE), a Trump administration initiative he helps lead. Musk said he will begin spending more time at Tesla starting in May. “My time allocation to DOGE will drop significantly,” he noted, while committing to ongoing support of government reforms.
Despite protests and shareholder criticism, Musk remains optimistic, emphasizing Tesla’s expansion into AI and robotics. “With excellent execution, Tesla will be the most valuable company in the world by far,” he said.
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