Elon Musk In the future, less time than a consultant for the Department of Government Efficiency (Doge) wants to work. Instead, he would be more time with the guidance of the electric car manufacturer Tesla Spending, the Tesla boss announced after presenting the quarterly figures in the late Tuesday evening. The “crucial work” at Doge was “largely done,” added the billionaire. However, he wanted to continue to spend one to two days a week with government tasks – at least as long as Trump wool.
Burglary of profits of 71 percent
Most recently, the criticism of Musk’s controversial commitment to the authority had become louder, which initiated extensive savings and layoffs on behalf of the US President. Musk also contested that his political commitment alongside Trump’s Schade’s image of the Tesla brand.
Tesla urgently needs more attention from Musk: the car manufacturer posted a decline in sales in the past quarter. The proceeds were 9 percent in the year to a good $ 19.3 billion. The bottom line was that profit collapsed by 71 percent to $ 409 million.
Nevertheless, the share according to Musk’s announcement in post -interconnected trade clearly increased. The image of Tesla suffered from Musk’s political course, but many investors continue to trust the operational skills of the Tesla boss.
Last year Musk became a close ally of Trump, whom he donated more than $ 250 million for the election campaign for the White House. As President, Trump commissioned him to reduce government expenditure. The political activities and right positions made Musk more unpopular – and that also hit Tesla.
Analyst Dan Ives from Wedbush Securities, who long expressed himself very optimistically about the future of Tesla, estimates that the damage to the brand by Musk’s brand could permanently push the Tesla demand by 15 to 20 percent.
Status as a consultant limited in time
Musk formally went to Washington as a “special government agent”. You can have this status for a maximum of 130 days, so his time in the US capital should actually take place in a few weeks. On the other hand, the duration can extend if you are active part -time.
Musk’s position in the Trump environment has already been weakened in the past few weeks, especially after he threw his weight into the election campaign for an important judge post in the state of Wisconsin-and the candidate of the Republicans supported by him.
Musk speaks of “great success” as a cost killer
The Tech billionaire also said in the analyst conference on the presentation of the Tesla quarterly figures that he had already achieved great success in the cost reduction. He also claimed that the protests against him and Tesla were organized by those who had previously been enriched by fraud on state costs. After the announcement, the stock was increasing by around four percent in post -exchangeable trade.
Tesla fails to be aware of expectations
With the numbers, Tesla missed the expectations of the analysts. They had expected an average of $ 21 billion in sales. In the adjusted profit per share, Tesla came to $ 0.27, while an average of $ 0.39 was expected on the market.
At the same time, Tesla confirmed that the production of cheaper model variants should begin in the first half of 2025. It was also confirmed that a Robotaxi without a steering wheel and pedals from 2026.
Less cars delivered
The results are not surprising: Tesla’s deliveries fell by 13 percent to 336,681 vehicles in the first quarter. It is difficult to determine how strongly individual reasons contributed to the decline. In addition to the controversy around Musk, a factor of switching to a renewed generation of the bestseller Model Y should be.
Tesla converted the production lines at the beginning of the year. For this, production paused for a few weeks. At the same time, pricing prospective customers were less to buy a vehicle of the previous Y variant.