Tesla profits plunge, but Musk promises to take the wheel again
Behind the decline are both global economic headwinds and Elon Musk’s personal “career pivot,” where he’s spent more time fine-tuning American governance efficiency (via DOGE, no less) than steering Tesla’s production lines. His outspoken support for Donald Trump hasn’t exactly helped, leaving a sour taste in the mouths of many longtime Tesla fans.
Following mounting pressure from investors and a steep slide in the stock price, Musk has now officially pledged to refocus on Tesla starting next month, putting politics on the back burner. The announcement gave Tesla’s stock a 5.5% boost — a modest rebound, though still far from erasing the nearly 50% drop since December.
To steer the company back on course, Tesla plans to launch more affordable versions of its popular models. However, the updated Model Y has already been mysteriously delayed. On the brighter side, development of Tesla’s long-promised robotaxi project is moving full speed ahead, with a launch scheduled for June in Austin, Texas.
Tesla has announced a dramatic 71% drop in net profit for the first quarter of 2025, landing at $409 million. On paper, that’s still a decent chunk of change — but compared to last year, it’s not just a step back; it’s a full-blown detour into the ditch. Behind the decline are both global economic headwinds and Elon Musk’s personal “career pivot,” where he’s spent more time fine-tuning American governance efficiency (via DOGE, no less) than steering Tesla’s production lines. His outspoken support for Donald Trump hasn’t exactly helped, leaving a sour taste in the mouths of many longtime Tesla fans. Following mounting pressure from investors and a steep slide in the stock price, Musk has now officially pledged to refocus on Tesla starting next month, putting politics on the back burner. The announcement gave Tesla’s stock a 5.5% boost — a modest rebound, though still far from erasing the nearly 50% drop since December. To steer the company back on course, Tesla plans to launch more affordable versions of its popular models. However, the updated Model Y has already been mysteriously delayed. On the brighter side, development of Tesla’s long-promised robotaxi project is moving full speed ahead, with a launch scheduled for June in Austin, Texas.
