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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTesla's 71% Drop in Profit May Pressure Elon Musk to Return to Day Job
Tesla said Tuesday that its profits fell 71 percent in the first three months of the year, which could increase the pressure on Elon Musk, the automakers chief executive, to curtail his work for President Trump and spend more time managing the company.
The company said it earned $409 million, down from $1.4 billion in the first quarter of 2024. The company had previously reported net profit of $1.1 billion last year, but revised the figure to reflect changes in the way cryptocurrency assets are valued.
Tesla sales have been slumping because of intense competition from Chinese carmakers like BYD, a lack of new models and Mr. Musks support of far-right causes, which has turned off some liberals and centrists from buying Tesla vehicles.
Tesla remains the most valuable automaker in the world as measured by its stock price, and it sells far more electric vehicles in the United States than any other company. But its shares have lost about half their value since mid-December as investors have grown more pessimistic about the companys prospects and concerned about Mr. Musks role in the Trump administration.
https://www.nytimes.com/2025/04/22/business/tesla-earnings-elon-musk.html

Mike 03
(18,403 posts)He sounds so fucking ridiculous. Rambling about DOGE and all the paid protesters and opposition. Not ONE WORD about business or Tesla yet.
Now he's saying he'll pull back from DOGE but he'll probably have to devote time to it for the entirety of Trump's term. (Figure that out.) A day or two or three days a week...
Still not a word about his business, TESLA.
Oh here we go. "Probably will be some unexpected bumps...."
Lunatic.
RandySF
(73,505 posts)Electric cars and space exploration.
modrepub
(3,821 posts)is probably going to be the only big company revenue source he can tap at the moment. Unless he plans on putting new show rooms in WV, AL and KY to attract all those new red state customers he's been working on.
walkingman
(9,108 posts)I say, allow the Chinese EVs to be sold here - from what I read they are better quality and cheaper - what happened to the "free market"? I guess if you can't beat'em demonize them?
RandySF
(73,505 posts)EdmondDantes_
(412 posts)If you think Musk is the magic behind Tesla, buying when he's saying he's going to devote more time to Tesla, buying on bad news is an opportunity.
Of course the great man of history theory has a bunch of flaws, but the Tesla stock has been massively overpriced based on fundamentals for a long time in large part based on Musk's cult of personality.
Blues Heron
(6,808 posts)Find a Tesla takedown protest, and make some noise! Hit him where it hurts - the bottom line!
edhopper
(35,801 posts)Overvalued by a factor of 10. Sells 20% of the cars Toyota does (and that number is falling) yet has a market worth 4X of Toyota.
It's not a tech company, it's a n auto maker.
tanyev
(46,160 posts)theyd probably do better if they dumped him.
sakabatou
(44,607 posts)UTUSN
(73,902 posts)RJ-MacReady
(380 posts)Meowmee
(8,702 posts)What happened to that?
RandySF
(73,505 posts)Elon and the board do drugs together.
Meowmee
(8,702 posts)It was posted here a month or two ago when it was losing money.
https://www.newsweek.com/tesla-investor-calls-board-oust-elon-musk-2048755
In addition to the financial disasters he has caused for them there is this: since he had nothing to do with making these cars, and when he signed on board, they seem to have started having serious errors which he covered up and ignores etc. it would be a good idea to boot him out. If they dont theyre a bunch of idiots. I would never buy any of their cars anyway even if I could afford it.
* We- my family, knew he was a total fraud a long time ago.