ReutersTesla coach Elon Musk said that he would reduce his role in the Trump administration, as the company’s latest profits and revenues have shown a decrease during the beginning of the year.
Sales fell, and the brand faced a violent reaction as Musk became a key player in the new White House management.
On Tuesday, the company announced a 20 % decrease in car revenues in the first three months of 2025, compared to the same period last year, while profits decreased by more than 70 %.
The company has warned the investors that the pain may continue, and refused to provide growth expectations with the saying “changing political morale” could harm a useful demand.
The recent decline in the company’s wealth comes amid a protest against the role of Musk in the new administration of President Donald Trump, which Musk admitted to riding the company.
Musk has contributed more than a quarter of a billion dollars to Trump’s re -election. It also leads Trump’s Ministry of Government Efficiency initiative to reduce federal spending and reduce government workforce.
Musk’s political involvement sparked protests and Tesla provinces around the world.
He said that “the reaction” comes from people, “they will try to attack me and the Doug team. But he called his work in Doug “critical” and said “obtaining the government’s house in order is mostly.”
Tesla achieved $ 19.3 billion (14.5 billion pounds) of total revenue in the quarter, a 9 % decrease on an annual basis, according to new figures. This was less than $ 21.1 billion by analysts, and it came at a time when the company lowered prices in an attempt to attract buyers.
He said that “allocating time for Duis” from Musk will decrease significantly “starting in May, adding that he will only spend from day to two days a week on government matters,” as long as the president wants to do so and as long as he was useful. “
The company indicated that Trump’s tariff for China was highly weighing on Tesla. Although the vehicles sold by Tesla in their local market are assembled in the United States, they depend on many parts in China. “Advanced commercial policy quickly hurts” supply chain and increased costs, according to the company.
“This dynamic, in addition to changing political feelings, can have a meaningful effect on the demand for our products in the short term,” said Tesla Al -Fasali’s update.
Musk has Click On trade with other Trump administration numbers, including commercial advisor Peter Navarro.
ReutersEarlier this month, Navarro called a “fool” comments on Navarro about Tesla. Navarro said Mousse “is not a car factory. It is a car complex, in many cases.”
On Tuesday, Musk said he believed that Tesla is the company that is less affected by definitions due to the translated supply chains in North America, Europe and China, but added that “the tariff is still difficult for the company where the margins are low.”
“I will continue to defend low definitions instead of the higher customs tariffs, but that’s all I can do,” he said on Tuesday.
Tesla said artificial intelligence will contribute to future growth, although investors have not been persuaded because of such arguments in the past.
The shares of the company threw about 37 % of their value this year, as of the closure of the market on Tuesday. It was fixed in trading after hours after the results.
Dan Cutsworth, AJ Bell investment analyst, called “Rock-Tottom” after the company He said Earlier this month, the number of cars sold in the quarter decreased by 13 %, to the lowest level in three years.
Mr. Coatsworth said that the company is facing fierce competition, warning that the potential disorder of global supply chains as a result of Trump’s commercial war is also risking.
“Tesla problems are escalating,” he said.
