Tesla’s profit collapses 71%, blowing Elon Musk; investors seek Donald Trump’s adviser to resign
EV manufacturers reported profits of $409 million, down 71% from the big results last year. The company retreated from guidance in 2025, citing uncertainty about trade policies and demand, AFP reported.
Austin, Texas, said Tuesday that quarterly profits fell 12 cents per share. This is much lower than analysts’ estimates. Tesla’s revenue fell 9% to $19.3 billion between January and March, lower than Wall Street’s forecast.
Tesla’s stock has fallen more than 40% this year.
Many investors also complain that Musk is distracted by Trump’s administration position and cannot take on Tesla and that he should give up his position as CEO or give up his role as adviser in Washington.
Meanwhile, treasurers of seven US states have raised concerns about Tesla CEO Elon Musk’s lack of focus on the electric vehicle maker, given its significance in regional industries, innovation and employment.Tesla deliveries plunged 13 per cent in the first quarter due to backlash against Elon Musk’s politics, rising global competition and people waiting for a refresh to its highest-selling electric vehicle Model Y.If Tesla falseters, the effects California state controller Malia Cohen and including Washington’s Mike Pellicciotti and Illinois’s Michael Frerichs said it would not be limited to shareholders, but would be felt in the regional economy, the labor pipeline and the public’s public confidence in the energy transition.
The Finance Minister asked the board to clarify how Musk and Tesla’s boards ensured adequate time and energy to address the company’s underperformance and how the board assessed whether executive compensation was consistent with shareholder value and company accountability.
FAQ
Q1. Who is Tesla CEO?
A1. Tesla’s CEO is Elon Musk.
Q2. What do we know about Tesla’s stock performance?
A2. Tesla’s stock has fallen more than 40% this year.
