• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Earnings

Tesla Sales Plunge as Musk Plans to Step Down DOGE Role

Paul Balo by Paul Balo
April 23, 2025
in Earnings
Share on FacebookShare on Twitter

Tesla’s once-undisputed reign over the electric vehicle (EV) market is facing its biggest test yet. The company’s Q1 2025 earnings report, released earlier this week, painted a troubling picture: net income fell by 71% year-over-year, while automotive revenue dropped 20%. All of this comes as CEO Elon Musk’s political affiliations and role in the federal government stir backlash from core Tesla customers.

And while Musk says he’s ready to spend less time on politics, he made it clear: he’s not stepping away entirely from his controversial DOGE (Department of Government Efficiency) role.

 

The Numbers Tell the Story

Tesla’s financials this quarter were hard to sugarcoat:

  • Net income fell to $409 million — a 71% drop from Q1 2024.
  • Revenue hit $19.3 billion, missing analyst expectations of $21.45 billion.
  • Vehicle deliveries shrank 13% to 386,810 — the company’s worst quarter since 2022.

Analysts had braced for a tough report after Tesla’s Q1 delivery numbers showed a massive dip, particularly when global EV sales rose by 7% during the same period. While rivals like GM, Hyundai, and BYD picked up momentum, Tesla faltered — despite Musk’s repeated claims that demand remains strong.

 

Politics Hurting Tesla?

Musk, who has been a central figure in Donald Trump’s administration as the head of DOGE, has faced increasing criticism over his political work and online rhetoric. According to Axios, that political association may be alienating liberal consumers, who historically made up a significant portion of Tesla’s customer base.

Protesters, including the activist group Tesla Takedown, have been demonstrating outside Tesla showrooms and claiming Musk’s politics are undermining democracy. Musk dismissed the protests during the earnings call, calling them “paid for” and blaming them on people upset by the reforms DOGE has pushed through — without citing any evidence.

“The irony is rich coming from a man who spent $277 million to get Donald Trump elected,” Tesla Takedown replied in a statement, as quoted by NPR.

Another worrying sign for Tesla: the value of its used cars is tumbling.

According to iSeeCars, used Tesla prices dropped by 10.1% in the last 12 months, while the average price of used cars overall rose by 1%. That’s bad news not only for current Tesla owners but for the company itself — since Tesla retains ownership of many leased vehicles, a depreciation in value hits the company’s books directly.

Tesla executives acknowledged during the call that the slump in used car values contributed to the sharp drop in quarterly profits.

Despite the poor numbers, Musk remains bullish on Tesla’s long-term vision — but it’s not about selling more vehicles. Instead, he says, the company’s future lies in robotaxis, AI-powered autonomous vehicles, and humanoid robots.

“I’m not worried that rank one [in AI] will be anything other than Tesla,” Musk said during the call, though he admitted that “rank two through 10 might all be Chinese companies.” He reiterated confidence in Tesla becoming the most valuable company in history.

His focus on AI comes just as Tesla’s share of the U.S. EV market dropped below 50%, according to Cox Automotive, while overall EV sales continue to rise.

 

Will Musk Step Away From Government Work?

For now, Musk says he will cut back on the time he spends working for DOGE. He told investors he’d be reducing his political duties — not because of pressure, but because “the work is mostly done.” He added that he’ll still spend a day or two each week on government matters “as long as it’s useful.”

That was enough to satisfy some investors. Dan Ives, a Tesla bull at Wedbush Securities, called it “the beginning of the end of [Musk’s] time in the Trump White House” and said it was exactly what investors wanted to hear.

As noted by Politico, Tesla’s share price rose in after-hours trading after Musk signalled he would turn more attention back to the company.

Musk remains confident that Tesla will bounce back — particularly with new AI technology and an upcoming robotaxi reveal expected in June 2025.

But with fierce competition from Chinese EV makers like BYD, along with growing pressure in Europe and the U.S. from legacy automakers, Tesla’s dominance is no longer guaranteed. Its market share is slipping, and its brand loyalty is facing its biggest test in years.

For Tesla to reclaim its momentum, experts say the company may need to refresh its aging vehicle lineup, introduce a more affordable EV, and — perhaps most importantly — get back to basics.

Tesla has been a pioneer, a disruptor, and a cultural icon. But now, the EV giant is at a crossroads. Between political entanglements, slipping market share, and financial headwinds, Elon Musk has more to prove than ever.

The next few quarters may define not just the future of Tesla — but also Musk’s legacy as the tech world’s most polarizing visionary.

Related Posts:

  • 2025-tesla-cybertruck-3-672e75cce7814
    Tesla Misses Q4 Estimates, Stock Rebounds After-Hours
  • Tesla's Q1 2023 Earnings Numbers Are Out
  • Electric Vehicle Maker Tesla Reports Second Quarter…
  • article-64b8fe763f1d1
    Tesla Misses Expectations On Fourth-quarter Deliveries
  • 3D Pen
    Tesla Reports Record Quarterly Revenue, but Lower Margins
  • TESLA-1280×720-1-990×557
    Tesla Made The Most Money In 2022, But Its Future…
  • facebook-work-0
    Not Too Long After Elon Musk Warned Of Job Cuts,…
  • TESLA-1280×720-1-990×557
    Tesla Slashes Full Self-Driving Package Price From…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: earningselon muskteslatesla q1 2025 earnings
Paul Balo

Paul Balo

Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Truecaller Filters Verified Business Messages May 12, 2025
    • ChatGPT Deep Research Now Links to GitHub Repos May 12, 2025
    • Microsoft Offers Guide to Fix Windows Blue Screen Errors May 12, 2025
    • We’ve Invested $10b in Nigeria so Far – MTN May 12, 2025
    • Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 3 May 11, 2025
    • Google’s Antitrust Showdown, AI vs. Search, and other Headlines May 11, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Popular Tags

    africa (135) AI (498) android (367) app (717) Apple (577) artificial intelligence (419) business (482) china (132) cryptocurrency (210) ecommerce (122) enterprise (287) facebook (507) fintech (244) funding (121) gadget (558) gaming (201) google (710) government (469) instagram (173) internet (467) ios (291) iphone (246) meta (116) microsoft (369) mobile (352) new feature (384) nigeria (440) privacy (158) research (140) samsung (185) security (421) smartphone (277) social media (836) software (509) startup (419) streaming (174) telecom (242) tips (372) twitter (289) united states (216) users (158) videos (127) website (173) whatsapp (201) youtube (138)

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    About Us

    TechBooky

    TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

    Recent News

    Truecaller Filters Verified Business Messages

    Truecaller Filters Verified Business Messages

    May 12, 2025
    ChatGPT Deep Research Now Links to GitHub Repos

    ChatGPT Deep Research Now Links to GitHub Repos

    May 12, 2025
    Microsoft Offers Guide to Fix Windows Blue Screen Errors

    Microsoft Offers Guide to Fix Windows Blue Screen Errors

    May 12, 2025
    The NCC Commissioned MTNN To Lease Spectrums From NTEL And Renew Its 3G Spectrum

    We’ve Invested $10b in Nigeria so Far – MTN

    May 12, 2025
    Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 1

    Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 3

    May 11, 2025
    Google’s Antitrust Showdown, AI vs. Search, and other Headlines

    Google’s Antitrust Showdown, AI vs. Search, and other Headlines

    May 11, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok