Tesla reports 71 % profit drop and 13 % fall in sales
Tesla’s net profit plunged to $409 million and deliveries fell to a three-year low; Musk vows to scale back work in DOGE and refocus on Tesla.
Photo: BoliviaInteligente, Unsplash
USA. According to The Verge, Tesla Inc. reported that Q1 2025 revenue fell 9 % to $19.3 billion, while net profit dropped 71 % to $409 million.
Deliveries declined 13 % to 336,681 vehicles, the worst quarterly figure since spring 2022.
Management says growth in 2025 will depend on macroeconomic conditions and ramp-up of new plants; the target forecast will be reviewed with the Q2 report.
CEO Elon Musk, according to Reuters, told analysts he will “significantly” reduce his involvement in the government DOGE task force from May and focus on Tesla, urging investors to “judge by the product, not politics.”
Musk’s political role has triggered a backlash. The #TeslaTakedown movement has escalated into protests and vandalism. Last week activists spray-painted a Manhattan showroom, and similar incidents occurred in Stockholm and Malmö in late March.
The company is trying to revive demand through discounts and its promised robotaxi, yet analysts warn reputational risks could continue to weigh on sales and margins.
Earlier it was reported that from 9 April Canada introduced mirror trade measures against the US. A 25 % tariff was imposed on certain American-made cars in response to US duties affecting Canadian exports.