Tesla Boss Elo Musk Says He Will Be Spending Less Time in Washington DC Slashing Goovernment Costs and More Time Running The Electric Vehicle Companyy, after a plunge in profits.
In its Quarterly earns report, Tesla Reveled A 71 Per Cent Drop in Net Profit, Compared to the Same Time A Year Earlier.
Addressing a confection Call, Chief Executive El Musk Said “Now that the Major Work of Establishing Department of Government Efficiencey [DOGE] Is Done, “He would be” Allocating Far More of My Time to Tesla “Starting in May.
The News Was Chered by Investors, Sending the Stock High in Extended Trading.
Tesla’s Share PRICE HAS COME UNDER PRESSURE DUE to Slumping Sales and Shareholder Concers that Mr Musk is DistRACCed by His Involutionment with the Trump Administration.
Wedbush Securities Analyst Dan IVES Descrabed it as a “Disaster First Quarter for Tesla”.
Auto Revenue Slumped by 20 Per Cent in the Quarter, Compared to the Same Period in 2024, Missing Wall Street Estimates.
Tesla Ceo Elo Musk Says His Work with the Trump Administration’s Doge Will Reduce to One to Two Days a Week from May. (Reuters: carlos barra))
Earlier in April, Tesla Reported Its Weakest Sale
It comes as completing in the Global Ev Market Increheses, with China’s Byd Reporting Record Revenue Last Month.
“Byd’s Been A Major Force, But It Speaks More to You Musk Needs to Re-Angage with Tesla-There’s HUGE COMTITITION But Aco Opportunity for Tesla,”
Mr IVES said.
“Byd has been a pretty imPressive force.”
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‘Clear Pivot’ for Musk But Brand Damage Remains
Mr Musk Said His Time with Doge Will “Drop Signicantly” and He now Expects to Spend Just “a day or Two Per Week on Goovernment Matters”.
Mr Musk Distranceed HimSelf from Donald Trump’s Tarifs on the earns call, says “I want to emphasise that the tariff decision is entirely up to the previous of the United States”.
“IVE Been on the Record Many Times Saying that I Believe Lower Tarifs Are GENERLY A Good Idea For Prosperity, but This Decision is Fundamentally Up to the Electored Representative of the People Being the Presedent of the United States.
“I’m Continue to Advocate for Lower Tariffs Rather Than Highher Tariffs, but that’s all I can do.“
Dan IVES, The Global Head of Technology Research at Wedbush, Said The News of Mr Musk’s Steping Back from Doge Trumped the Results for Investors.
“The Brand Damage, Some of that’s Going to Be Permanent, but this was a big steps for musk,” He Told the Business.
“I think it’s the beginning of the end of his time with the Trump Administration. It’s An OFF-RAMP.“
Mr Musk Had Already Been Notionally Scheduled to Leave Doge Next Mon
Howver, MR IVES Said The Had Been Concers He Wald Continue, Makeing Wednesday’s News for Investors.
“I Did Fear that He Was Still Going to Be be an Adviser to Trump, Trump Laid that out. [Musk] Couelf Have Recommitted to the Trump White House, “He said.
“This was a CLEAR PIVOT and A MUCH MORE ‘Reading-THE-ROOM’ Musk Than i’ve Seen in Many Years.”
Tesla Has Been Plagueed by Protests Globally Sparked by Mr Musk’s Political Views and Association with the White House Post November’s US Election.
A Man Sprays Paint Graffiti Against ELON Musk’s DePartment of Goovernment Efficience on a Tesla Showroom in New York on The Day the Fair Reveled Its Profit Rsults. (Reuters/Extinction Rebellion NYC))
The Acocomying Hit to Tesla’s Share PRICE, which is download 41 Per Cent Since January 1, HAS Affectated Not Only Retail and Institutional Investors, But Mr Musk’s Own Net Work, Thought He Remains The World’s Richest Man.
“Since Musk Has joined the White House, It’s Been a Trainwreck for Tesla, in TERMS of Brand Damage, Tariffs, What We’ve Seen to the Stock Price, and I Think It Took on A Life Of ITS Own, “Mr IVES SAID.
Musk Says People Will ‘Wake up at Destination’ by End of Year
Tesla Reconfinder that It Expects to Roll Out a Cheper Version of Its Best-Selling Vehicle, The Model Y Sport Utility, in the First Half of this Year.
It also studick with its predges
“There will be millions of Teslas Openinging Autonomously in the Second Half of the Year,” Mr Musk SAID in a Conference Call after
He later added about the personal use of autonomous vehicles, “can you go to sleep in our cars and wake up at your Destination? I’m Confident that will be Available in Many Cities in the Us by the End of this year. “
Auto Analyst Sam Abuelsamid at Telemetry Insight Said He Doubts Musk’s Predations.
“The System is Not Robust En
“I will suddenly maike Mistakes that will lead to a Crash.”
The Plaanned Rollo of the Robotaxi With a Steering when or PEDALS COMES AS Us Federal Regulats Still Have Open Investigiations In TECHERALOOLOALTOLOLOLOLOLALOLOLOS CARS CARS CARS To Drive Themselves is Completile Safe.
Tesla’s Driver-SSISISTAE TECHNOLOGY That Caner or Stop a Car But Still Requires Humans to Take Over at Any Time-Its SOLLED AUTOPILOT-is Being Probed by the National Highway Traffic Safty Administration for when it is alerts drivers.
And the company’s full self-drawing, which is only partial Self-Drowing and Has Drawn Criticism for Misleading Drivers with the Name, Has Come Under Scrutiny for Its Tie to Accidents in Low-VISIIBIIIITY CONDITIONS Like when there is Sun Glare.
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