{"id":35231,"date":"2025-04-23T09:19:41","date_gmt":"2025-04-23T03:34:41","guid":{"rendered":"https:\/\/prahaar.com.np\/?p=35231"},"modified":"2025-04-23T09:19:42","modified_gmt":"2025-04-23T03:34:42","slug":"elon-musk-steps-away-from-doge-duties-as-tesla-faces-financial-setbacks","status":"publish","type":"post","link":"https:\/\/prahaar.com.np\/?p=35231","title":{"rendered":"Elon Musk Steps Away from DOGE Duties as Tesla Faces Financial Setbacks\u200b"},"content":{"rendered":"\n

April 23, 2025 \u2014<\/strong> Tesla CEO Elon Musk has announced he will significantly reduce his involvement in Donald Trump\u2019s administration after the electric car maker reported a sharp drop in profits and revenue for the first quarter of 2025. Tesla\u2019s financials revealed a 20% decline in automotive revenue compared to the same period last year, while overall profits plummeted by more than 70%. The disappointing results were accompanied by a 9% drop in total revenue to $19.3 billion, falling short of analysts’ expectations.<\/p>\n\n\n\n

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Musk\u2019s growing presence in the White House, particularly his leadership of Trump\u2019s Department of Government Efficiency (DOGE) initiative, has triggered public backlash and sparked global protests and boycotts of Tesla vehicles. Critics say his political alignment has distracted from company priorities. In response to the mounting criticism, Musk said he will start spending only one to two days per week on government-related work starting next month, stating he would continue the role \u201cas long as it\u2019s useful and the president wants me involved.\u201d He insisted that the DOGE team had \u201cmostly finished\u201d its core mission of cutting federal spending and reducing government workforce.<\/p>\n\n\n\n

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The company’s recent downturn has coincided with growing public backlash over Musk’s involvement in the Trump administration.<\/figcaption><\/figure>\n\n\n\n

Tesla warned investors that shifting political sentiment could continue to impact sales. The company cited increasing political polarization, Trump-era tariffs on Chinese goods, and Musk\u2019s controversial statements as key factors affecting consumer demand. Although Musk argued that Tesla was less affected by tariffs due to its localized supply chains in North America, Europe, and China, he acknowledged that global trade tensions posed risks\u2014particularly for an industry where profit margins are already tight.<\/p>\n\n\n\n

Tensions within the Trump administration also surfaced, with Musk recently calling trade adviser Peter Navarro a \u201cmoron\u201d after Navarro downplayed Tesla\u2019s role in manufacturing.<\/p>\n\n\n\n

Despite Tesla\u2019s recent AI initiatives, which Musk claims will drive long-term growth, investor confidence has remained shaky. The company\u2019s stock has dropped about 37% this year, though shares rose 5% in after-hours trading after the earnings announcement.<\/p>\n\n\n\n

Dan Coatsworth, an investment analyst at AJ Bell, said expectations for Tesla were already low following a 13% drop in quarterly vehicle sales\u2014the lowest in three years. He warned that rising global competition and the threat of further supply chain disruption from ongoing trade conflicts could add more pressure on Tesla in the coming months.<\/p>\n\n\n\n

\u201cTesla is under serious pressure from multiple fronts,\u201d Coatsworth said.<\/p>\n","protected":false},"excerpt":{"rendered":"

April 23, 2025 \u2014 Tesla CEO Elon Musk has announced he will significantly reduce his involvement in Donald Trump\u2019s administration after the electric car maker reported a sharp drop in profits and revenue for the first quarter of 2025. Tesla\u2019s financials revealed a 20% decline in automotive revenue compared to the same period last year, …<\/p>\n","protected":false},"author":5,"featured_media":35234,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,37,44],"tags":[],"class_list":["post-35231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headline","category-news","category-english"],"_links":{"self":[{"href":"https:\/\/prahaar.com.np\/index.php?rest_route=\/wp\/v2\/posts\/35231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prahaar.com.np\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prahaar.com.np\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prahaar.com.np\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/prahaar.com.np\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35231"}],"version-history":[{"count":1,"href":"https:\/\/prahaar.com.np\/index.php?rest_route=\/wp\/v2\/posts\/35231\/revisions"}],"predecessor-version":[{"id":35235,"href":"https:\/\/prahaar.com.np\/index.php?rest_route=\/wp\/v2\/posts\/35231\/revisions\/35235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prahaar.com.np\/index.php?rest_route=\/wp\/v2\/media\/35234"}],"wp:attachment":[{"href":"https:\/\/prahaar.com.np\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prahaar.com.np\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prahaar.com.np\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}