US EditionTesla profits drop 71% on weak sales and anti-Elon Musk sentiment
- Tesla's net income has dropped 71% compared to the previous year, indicating significant profitability issues for the company.
- The company reported a revenue decrease of 9%, with a 20% drop in auto revenue.
- Tesla delivered 50,000 fewer vehicles in the first quarter than last year, marking its largest sales drop historically.
- Elon Musk attributed the sales decline to economic weakness and consumer uncertainty.
369 Articles
369 Articles
Tesla earnings plunge 71% amidst anti-Elon Musk backlash
Tesla reported a sharp 71% drop in first-quarter net income on Tuesday, significantly missing revenue expectations and raising new questions about the electric carmaker’s financial trajectory. The company’s total revenue for Q1 2025 fell 9.4% year-over-year to $21.3 billion, around $1.8 billion short of Wall Street forecasts. Tesla also reported a net income decrease to $409 million, a steep decline from $1.39 billion in the same period last yea…
He is also CEO of SpaceX, announces his partial withdrawal from the policy to save Tesla and return the company to its state of captain of the electric car ship.
Earnings of the US electrical manufacturer Tesla fell by more than 70 percent year-on-year to 409 million dollars in the past quarter. According to the company, sales also fell by nine percent to around 19.3 billion dollars. Now head of company Musk wants to reduce his work for the US government.
Musk vows to spend more time on Telsa after net income falls 71%
Tesla CEO Elon Musk says he will be dedicating more time to the electric vehicle company starting from next month, after the firm published disappointing first-quarter results. The US carmaker has suffered from political blowback because of Musk's involvement with the Trump administration, as well as intense competition globally. Also in this edition, the International Monetary Fund slashes its global growth forecast because of Trump's trade war.
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