Overview
- Tesla's Q1 2025 net income fell 71% to $409 million, with revenue declining 9% year-over-year to $19.3 billion.
- Vehicle deliveries dropped 13% to 336,681 units, missing Wall Street expectations and reflecting weakened demand.
- Elon Musk confirmed he will significantly reduce his time spent on the Department of Government Efficiency (DOGE) starting in May to focus more on Tesla operations.
- The company paused its long-term growth forecast due to uncertainty from evolving trade policies and political backlash, including tariffs and protests tied to Musk's political affiliations.
- Tesla remains on track to launch new affordable EV models in H1 2025 and roll out a robotaxi service by mid-year, while its energy business grew 67% during the quarter.