Profits At Tesla Fall For “Several Reasons.”

Tesla booked a turnover of 19.3 billion dollars, or about 16.9 billion euros, for January through March. That was 9 percent less than in the same period a year earlier. The net profit that remained was 71 percent lower, at 409 million dollars.

Tesla had already announced its sales figures earlier this month. The company appeared to have sold 13 percent fewer cars worldwide in the first quarter of this year. In the first three months, 336,681 vehicles were delivered, the lowest number since the second quarter of 2022.

The company is cautious in its forecasts for the full fiscal year. Earlier, Musk had promised a return to growth after Tesla’s annual deliveries had fallen last year. Tesla seems to be under pressure mainly because of criticism of CEO Elon Musk’s work for US President Donald Trump.

“While we are making prudent investments that position both our vehicle and energy businesses for growth, the pace of growth this year will depend on several factors,” Tesla said in a statement, citing macroeconomic conditions and factory ramp-ups. “We will revisit our 2025 guidance in our second quarter update.”

Musk’s role as Trump’s adviser on government budget cuts has led to discontent among some customers. There have been calls to boycott Tesla, and some Tesla owners say they are ashamed of their cars because of Musk. Dealerships, charging stations, and customer vehicles have also been vandalised around the world.

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