TESLA PROFIT
100-day pain: These billionaires who donated to Donald Trump's inauguration have lost $194 billion, and counting
Donald Trump's policies impact tech giants. Elon Musk, Jeff Bezos, Mark Zuckerberg, and Jensen Huang face huge financial setbacks. Trade wars and export controls affect their companies. Tesla, Amazon, Meta, and Nvidia shares decline. Tim Cook and Sundar Pichai also see losses. Market disruptions hurt tech billionaires despite their earlier support for Trump. The losses are significant.
From high-profile cuts to federal layoffs: Elon Musk and DOGE's work in 100 days in Trump admin explained
Much like the Trump administration, the Department of Government Efficiency, or DOGE, has shaken up the political world in its first 100 days. The department has made cuts to various government agencies, which followed Trump’s promises during his presidential campaign. DOGE says it has saved an estimated $160 billion but critics say savings are much less than claimed.
Asian stocks rise with earnings, economic data in focus
Australian and Japanese shares climbed at the open and equity-index futures for Hong Kong pointed to a moderate gain. US stock futures edged lower after Super Micro Computer Inc. tumbled in late trading on a disappointing update. Treasuries extended this month’s advance, with 10-year yields falling for a seventh day. The dollar was little changed after strengthening on Tuesday. Gold rose and oil dropped.
Trucks and tariffs are a disastrous combination for big auto
Chinese companies like BYD and CATL are leading the electric vehicle revolution with innovations like ultra-fast charging, posing a significant challenge to US automakers. While EVs gain global market share, China dominates battery technology and offers cheaper models. The US auto industry faces disruptions from EVs, advanced driver-assistance systems, and China's growing dominance, potentially leading to Detroit's decline.
Report reveals how DOGE boss Elon Musk dodged $2.37 billion in fines
A report suggests Elon Musk potentially avoided $2.37 billion due to his role in the Trump administration. As head of the Department of Government Efficiency, investigations into Musk's companies diminished. This benefited his enterprises. The DOJ withdrew a discrimination case against SpaceX. Tesla still faces legal challenges. Musk announced his departure from DOGE to focus on Tesla.
Is Elon Musk tearing down the agency that helped build Tesla? DOGE targets the Department of Energy
Fifteen years ago, a US Department of Energy loan of $465 million rescued Elon Musk's struggling Tesla, enabling factory acquisition and Model S development. Now, Musk's team, within the Trump Administration's DOGE, targets the DOE for drastic cuts. This initiative has led to significant staff layoffs and project cancellations by companies like Kore Power and PG&E.
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How much do DOGE staffers really earn? Reports suggest their salaries far exceed Elon Musk’s 'zero compensation' claim
Despite Elon Musk's claims of working for free, his Department of Government Efficiency (DOGE) staff is reportedly earning six-figure salaries, funded by taxpayers. While Musk’s team boasts $160 billion in savings, a nonpartisan analysis reveals that his reforms have cost taxpayers $135 billion due to staff layoffs, rehires, and lost productivity. The controversy continues to grow.
Is Elon Musk really leaving DOGE? Entrepreneur David Sacks says it might be his strategy to doge the public focus
Elon Musk plans to reduce his involvement with the Department of Government Efficiency (DOGE) to focus on Tesla, following a significant profit drop. However, Silicon Valley entrepreneur David Sacks suggests Musk is shifting to strategic management rather than completely leaving. Sacks believes Musk will delegate more responsibilities after establishing a solid foundation.
Tariffs are bad for EVs, but some models may have a leg up
President Trump's proposed tariffs on imported auto parts could significantly impact the electric vehicle market. While potentially benefiting some U.S.-made EV models like Tesla's Model Y and Volkswagen's ID.4, the tariffs risk raising prices for all vehicles and hindering EV manufacturing, potentially ceding ground to Chinese automakers.
Elon Musk’s DOGE claimed to have saved $160 billion, but it may have cost Americans atleast $135 billion
Elon Musk's Department of Government Efficiency (DOGE) claims significant savings, but a new report suggests its policies could cost taxpayers billions due to unintended consequences like paid leave and rehiring terminated employees. Productivity declines and lost tax revenue further offset any direct savings, raising questions about the initiative's overall effectiveness and Musk's future role.
Elon Musk pulls back from Trump's DOGE role to refocus on Tesla
Musk posted a picture of himself wearing an X-branded t-shirt, instead of the "Tech Support" and "DOGE" t-shirts he has frequently been wearing since Donald Trump returned as US President. The post comes days after Tesla’s earnings call, where the car maker reported a 20% fall in car sales and a massive 70% plunge in Q1 2025. Musk addressed growing shareholder concerns over his divided focus.
Elon Musk's DOGE a flop? It caused chaos rather than saving billions for Trump
Tech billionaire Elon Musk has announced he would turn his attention back to the electric vehicle maker but said he would likely still work in government as long as President Trump would have him. An advisory body created by Trump, DOGE was spearheaded by Musk to make the federal bureaucracy more efficient. It has completed 100 days.
Tesla doubles down on robotaxi timeline; investors enthused and skeptical
Tesla stuck to its previously announced June timeline for launching a paid robotaxi service in Austin, Texas, providing investors confidence that Musk's time spent as a government cost-cutting adviser to President Donald Trump had not caused delays. On Tuesday's call, Musk said Tesla will first use existing Model Y vehicles outfitted with self-driving software. The automaker is also developing a dedicated autonomous model, dubbed the Cybercab, with production starting next year.
Elon Musk backs away from Washington. Why did he face massive criticism over DOGE role and Tesla?
Tesla CEO Elon Musk said Tuesday on his company’s earnings call that he’ll spend much less time with DOGE starting in May. His political involvement has sparked global protests and boycotts against the company's cars. Musk's EV company Tesla has also faced massive protests over his controversial role in the federal government.
'We expected him to...': Trump on why Elon Musk will spend less time at DOGE amid Tesla trouble
Elon Musk recently announced that his time spent running US President Donald Trump's Department of Government Efficiency (DOGE) "will drop significantly" starting in May. His decision came after profits of his electric car company Tesla took a hit. President Trump has now revealed the reason why he had to let go of Elon Musk.
Tesla's EU sales plunge 45% as Elon Musk takes flak
Tesla electric car sales in Europe plunged in the first three months of the year, industry data showed Thursday, in a fresh blow to its boss Elon Musk who has been criticised for his work in US President Donald Trump's administration. Musk promptly announced he would scale back his work for the Trump administration in May to focus on Tesla.
Elon Musk warns rare earth magnet shortage may delay Tesla's robots
While Tesla navigates this supply chain challenge, other robot manufacturers like Agility Robotics are adapting designs to minimize reliance on these rare earth magnets.
Tesla shares jump 5% as Musk promises to focus on co after 71% drop in Q1 profit
Tesla investors breathed a sigh of relief after CEO Elon Musk said he would refocus his attention on the electric automaker, but that promise did not entirely dispel worries that his right-wing shift had irrevocably damaged the company's brand.
Elon Musk steps back from Trump administration: What will happen to DOGE? Here's what to expect
Tesla shareholders are pressuring Elon Musk to resign from his government position at the Department of Government Efficiency (DOGE) and fully dedicate himself to the EV maker. This comes as Tesla's profits plummeted by 71% in the first quarter of 2025. Musk defended his government work, stating its necessity, but indicated a shift back to Tesla starting in May.
Elon Musk plans to bow out from government role as Tesla profits dive 71% in first quarter
Tesla’s profits plunged 71% in the first quarter of 2025 amid rising global protests against CEO Elon Musk’s involvement with the Trump administration. Musk announced he would scale back time spent on government work and refocus on Tesla and his other businesses. Tariff tensions and political uncertainty added to the company’s challenges, while deliveries declined and revenue missed expectations. Tesla’s hopes now rest on a promised affordable EV and the upcoming launch of robotaxis, despite ongoing concerns over safety and regulation.
Elon Musk's Tesla calls India a 'hot market' but says 100% car tariffs is making customers 'anxious'
Tesla is worried about India's high import taxes on cars. These taxes make Tesla cars twice as expensive, concerning potential buyers. Vaibhav Taneja mentioned India as a 'very hot market'. Tesla is carefully considering the right time to enter India. Elon Musk plans to visit India to discuss technology and innovation. Previous plans for a $2-3 billion investment were cancelled.
Tesla's first-quarter gross margin beats estimates
Tesla’s Q1 gross margin beat expectations at 16.3% versus the 15.82% forecast, despite falling from 17.4% a year earlier. Strong growth in services and energy storage offset weaker EV sales. Revenue missed estimates, deliveries dropped 13%, and ongoing discounts and tariffs continue to pressure profitability and outlook.
Big blow to Elon Musk as Tesla profits crash 71 per cent; Investors seek Donald Trump's adviser's resignation
Tesla reported profits of $409 million, down 71 per cent from the year-ago results, as per a report.
Dow Jones surges 1,000 points, Nasdaq up 3%, S&P 2% as US markets bounce back from Monday selloff
Wall Street rebounded on Tuesday, recovering from Monday's selloff triggered by President Trump's criticism of Fed Chair Powell, as investors focused on corporate earnings. Positive trade negotiation reports and strong results from companies like 3M Co boosted market sentiment.
Dow soars 800 points, S&P, Nasdaq up over 2% as investors focus on earnings
Wall Street rebounded on Tuesday, driven by corporate earnings, after Monday's selloff sparked by President Trump's criticism of Fed Chair Powell. The Dow Jones, S&P 500, and Nasdaq all experienced significant gains as investors analyzed quarterly reports for insights into companies' strategies amid tariff uncertainties.
Dow Jones surges 500 pts at open, S&P, Nasdaq up 1% each day after selloff
Wall Street rebounded on Tuesday, driven by encouraging corporate earnings reports that overshadowed concerns about trade tariffs and President Trump's criticism of the Federal Reserve. Investors are closely monitoring earnings to gauge the impact of tariffs, while also awaiting further developments in the ongoing tensions between the White House and the Fed.
Tesla's affordable EV, robotaxis in focus after Musk backlash, competition hurt demand
Tesla remains committed to launching more affordable electric vehicles in the first half of 2025, aiming for a starting price around $25,000. Production will use existing lines to cut costs. Meanwhile, self-driving ride-hailing tests are set to begin in Austin, Texas, by June 2025, despite ongoing investor concerns
Get ready for a showdown: Chinese EVs set to challenge Tesla's dominance
The Shanghai auto show is set to showcase over 100 new models from both Chinese and international brands like BYD, Geely, and Volkswagen, intensifying competition in the EV market. Amidst a price war, automakers are now focusing on automated driving features, facing stricter regulatory scrutiny after a fatal Xiaomi SU7 crash.
Tesla bull warns of 'code red' if Elon Musk sticks with DOGE
Wedbush analyst Dan Ives urges Elon Musk to prioritize Tesla amid concerns that his involvement with the Department of Government Efficiency (DOGE) and association with Trump's policies are damaging the brand. Ives believes Tesla faces a critical moment, with potential demand destruction and a significant stock drop.
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