Elon Musk tells Tesla shareholders he's withdrawing from DOGE, boycotts cause Tesla's net profit to fall 71%
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At Tesla's earnings briefing on April 22, 2025, Elon Musk, who heads the Department of Government Efficiency (DOGE), said that from May 2025, DOGE's involvement in government business will be significantly reduced and that he plans to shift to a working schedule of one to two days a week.
Tesla's Elon Musk says he'll take step back from DOGE
https://www.axios.com/2025/04/22/elon-musk-doge-tesla-earnings-call
Tesla CEO Musk says time he spends on DOGE will drop in May
https://www.cnbc.com/2025/04/22/tesla-ceo-elon-musk-says-time-he-spends-on-doge-will-drop-significantly-next-month.html
Tesla CEO Elon Musk entered politics by becoming a senior political advisor to the second Trump administration, but his drastic
According to Tesla's first quarter 2025 financial results announced on April 22, 2025 (PDF file) , Tesla's total sales decreased by 9% from the same period last year, sales in the automotive division also decreased by 20% compared to the same period last year, and net profit decreased by 71%. As a result, Tesla's stock price has fallen by 40% since the beginning of the year.
Musk, who attended the earnings call, told shareholders that he would continue working on DOGE for the duration of Trump's term, but would significantly scale back his activities going forward. 'Beginning in May, my time commitment to DOGE will be significantly reduced, as our work is nearly complete. I believe we will need to continue this for the remainder of the President's term to ensure that the waste and fraud that we prevented does not occur again, so I intend to continue working on government affairs one or two days a week for as long as the President wants and as long as it is beneficial,' he said.
Musk also acknowledged that Tesla's involvement with the Trump administration has hurt business performance, saying there has been 'some pushback' and 'some challenges.' This is reflected in a statement in Tesla's earnings filing: 'Rapidly changing trade policies are adversely affecting Tesla and our competitors' global supply chains and cost structures... These developments, combined with shifting political sentiment, may significantly impact demand for our products in the near term.'
by Ian M.
President Donald Trump's tariff policy will have a significant impact on Tesla's car sales through retaliatory tariffs from other countries and supply chain disruptions, putting Musk, who is both a senior adviser to the president and CEO of Tesla, in a difficult position.
'I support a predictable tariff structure and I fundamentally support free trade and low tariffs. I hope that in the future, President Trump will evaluate my advice from a different angle,' Musk said, revealing that while he supports the president, he has expressed criticism of his tariff policy.
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