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RandySF

(73,505 posts)
Tue Apr 22, 2025, 05:33 PM Tuesday

Tesla'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 automaker’s 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. Musk’s 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 company’s prospects and concerned about Mr. Musk’s role in the Trump administration.





https://www.nytimes.com/2025/04/22/business/tesla-earnings-elon-musk.html

15 replies = new reply since forum marked as read
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Tesla's 71% Drop in Profit May Pressure Elon Musk to Return to Day Job (Original Post) RandySF Tuesday OP
Earnings call is happening now Mike 03 Tuesday #1
It's a shame he's connected to to two wonderful endeavors. RandySF Tuesday #2
Working With The US Government modrepub Tuesday #5
I can't understand how the stock would be up after-hours? walkingman Tuesday #3
MAGA and Musk acolytes showing support by buying stock. RandySF Tuesday #4
Some people still believe in Musk EdmondDantes_ Tuesday #8
Awesome! keep up the pressure! Lets bring their earnings into negative territory! Blues Heron Tuesday #6
Tesla remains the most valuable automaker in the world as measured by its stock price, edhopper Tuesday #7
Now that the idiot behind the curtain has been revealed, tanyev Tuesday #9
Put him at the bottom of the ladder sakabatou Tuesday #10
"Return" - to finish off the 21% ? UTUSN Tuesday #11
Poor Elonia RJ-MacReady Tuesday #12
I thought tesla was trying to kick him out Meowmee Tuesday #13
Are you kidding? RandySF Tuesday #14
No I am not lol Meowmee Tuesday #15

Mike 03

(18,403 posts)
1. Earnings call is happening now
Tue Apr 22, 2025, 05:39 PM
Tuesday

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)
2. It's a shame he's connected to to two wonderful endeavors.
Tue Apr 22, 2025, 05:45 PM
Tuesday

Electric cars and space exploration.

modrepub

(3,821 posts)
5. Working With The US Government
Tue Apr 22, 2025, 05:57 PM
Tuesday

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)
3. I can't understand how the stock would be up after-hours?
Tue Apr 22, 2025, 05:52 PM
Tuesday

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?

EdmondDantes_

(412 posts)
8. Some people still believe in Musk
Tue Apr 22, 2025, 06:10 PM
Tuesday

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)
6. Awesome! keep up the pressure! Lets bring their earnings into negative territory!
Tue Apr 22, 2025, 06:01 PM
Tuesday

Find a Tesla takedown protest, and make some noise! Hit him where it hurts - the bottom line!

edhopper

(35,801 posts)
7. Tesla remains the most valuable automaker in the world as measured by its stock price,
Tue Apr 22, 2025, 06:03 PM
Tuesday

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)
9. Now that the idiot behind the curtain has been revealed,
Tue Apr 22, 2025, 06:19 PM
Tuesday

they’d probably do better if they dumped him.

Meowmee

(8,702 posts)
15. No I am not lol
Tue Apr 22, 2025, 06:48 PM
Tuesday

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 don’t they’re 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.

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