Overview

• Tesla's Q1 profits fell 71% to $409 million, with revenue declining 9% to $19.3 billion, as deliveries dropped 13% year-over-year.
• Elon Musk announced he will reduce his involvement in the Trump administration's Department of Government Efficiency to refocus on Tesla starting in May.
• The company plans to launch a more affordable Model Y SUV later this year and a paid driverless robotaxi service in Austin, Texas, by June.
• Tesla is rebranding the Cybertruck to appeal to traditional truck buyers, moving away from its futuristic design to boost demand.
• Trade tensions, including new tariffs and retaliatory measures from China, are straining Tesla's supply chain and impacting its global sales.