Overview

• Tesla reported a 71% drop in net income to $409 million for Q1 2025, alongside a 9% revenue decline to $19.3 billion.
• Global vehicle deliveries fell 13%, attributed in part to consumer backlash over Elon Musk's role in the Trump administration.
• Musk confirmed he will significantly reduce his time at the Department of Government Efficiency starting in May to focus more on Tesla.
• The company reaffirmed plans to launch lower-cost EV models and a paid robotaxi service in June, despite ongoing competitive and market pressures.
• Tesla warned that evolving trade policies and tariffs, particularly on imported components, could further impact costs and demand.