TV News LIES

Wednesday, Jul 02nd

Last update06:57:18 AM GMT

You are here News Politics Tesla profits fall 71% amid backlash to Musk's role with Trump administration

Tesla profits fall 71% amid backlash to Musk's role with Trump administration

E-mail Print PDF

Elon MuskTesla CEO Elon Musk said he would soon be spending less time with the Trump administration after first-quarter earnings fell short of expectations.

Net income for the quarter was down 71% after a decline in vehicle deliveries, with Tesla battling growing competition from foreign brands, shifting trade policies and growing backlash to the brand after Musk aligned himself with the Trump administration.

"There are some challenges, and I expect that this year will be, there will probably be some unexpected bumps this year," Musk said during a Tuesday earnings call. "But I remain extremely optimistic about the future of the company."

The slump comes as Tesla, along with other automakers, adjust to auto tariffs imposed by President Donald Trump. In a Tuesday financial report, Tesla said “rapidly evolving trade policy” has impacted the global supply chain and the company’s cost structure.

More...

 


Most Recent Related Stories...


Senate passes big changes to student loans in reconciliation bill

Student loans The Senate’s version of President Trump’s “big, beautiful bill” passed Tuesday would make significant changes to...

Trump administration raises possibility of stripping Mamdani of US citizenship

Mamdani The Trump administration has raised the possibility of stripping Zohran Mamdani, the Democratic mayoral candidate for...

Farewell to USAID: Reflections on the agency that President Trump dismantled

Farewell to USAID A storied US agency, one that began under President Kennedy in 1961 with the aim of...

Donald Trump threatens to arrest NYC mayoral Democratic nominee Zohran Mamdani

MamdaniPresident Donald Trump has escalated his attacks on New York City’s Democratic mayoral nominee Zohran Mamdani,...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!