TV News LIES

Monday, May 19th

Last update07:05:09 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...


DNC infighting threatens to throw party into ‘chaos’

DNCInfighting at the Democratic National Committee (DNC) is threatening to consume Democratic leadership just as the...

FBI folds the public corruption squad that aided Jack Smith's Trump investigations

Corruption agency shut The FBI’s Washington Field Office is folding its federal public corruption squad, the same unit that...

Wisconsin judge pleads not guilty to helping man evade immigration agents

judge Hannah Dugan A Wisconsin judge pleaded not guilty on Thursday to charges that she helped a man who...

Ben & Jerry’s cofounder arrested at US Senate after protesting war in Gaza

Ben Cohen arrested for protesting The cofounder of Ben & Jerry’s ice cream and six other people have been arrested after...
 
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!