Tesla has just published the worst quarterly results in years. Net income decreased by 71 % to $ 409 million in the first quarter.
Car sales decreased by 20 %, global delivery operations won 22 % in China and amazing 62 % in Germany, one of the largest markets of Tesla. Even in California, the original home base of the company, the EV market has decreased from 56 % to 44 %.
For several months, founding investors blamed Tesla’s problems for CEO Elon Musk, who was devoting a lot of his time to politics. In an investor call on April 22, Musk implicitly admitted to the problem, and promised that “allocating time in Dog will significantly decrease,” referring to the Ministry of Government.
Since the inauguration of President Trump, the Musk campaign has moved to clarify government waste to a party scene, where she drew mass protests and to lead to sabotage in Tesla agents. Many buyers avoided the brand as a reaction to the interesting Musk file.
On the bright side, the Tesla power storage increased by 67 % in the first quarter, the revenues of the software citizen increased, and the June Robotaxi fleet is planned alongside the S cheapest width.
But the financial repercussions Stark. Texas -based operating margin, Texas -based Texas, slipped to 2.1 %, a decrease from 5.5 % last year. Tesla was also absent from profit expectations, and he reported 27 cents per share for 41 cents.
Eighty -five percent of the investors surveyed by Morgan Stanley said in March that Musk’s political activities were damaged by Tesla and that they hope to transform.
“In essence, this was a slope of musk from the White House Trump from our point of view,” said Widbush Dan Evez, in a memorandum of investors, “with the global damage to the brand, the political storm, and the chaos of the ideal storm during the past few months, will now end this volatile political chapter of musk, and we expect to focus on any time that is behind to move forward.”
Meanwhile, Trump said he wanted to “keep Elon for a long time.” However, others in Washington may not participate in the same feelings. According to what was reported, Musk’s time was in Dog in terms of hot confrontations with members of the Council of Ministers, including Treasury Secretary Scott Bessin, Foreign Minister Marco Rubio, Transport Minister Sean Duffy, and Trade Adviser Peter Navarro.
