The leader of the Department of Government Efficiency has not been so efficient at his day job, apparently.
Tesla’s profits fell 71 percent in the first three months of 2025—an indictment of the job of its chief executive, Elon Musk, who spent much of that period tearing up Washington.
The electric car manufacturer revealed after the closing bell Tuesday that it earned $409 million in the first quarter, down from $1.4 billion in the same period of 2024.
Tesla is still the world’s most valuable automaker when measured by stock price, but its sales have lagged in 2025 as Musk, the face of the company, has become one of the most divisive figures in American politics—spending his days lashing out on X and resorting to using slurs to attack critics.
Tesla sales peaked at 1.8 million in 2023. Last year, sales dipped to 1.7 million cars, and its global sales fell another 13 percent in the first quarter of 2025 from a year earlier.
This is a developing story that will be updated.
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