It’s also been reported that Musk is throwing in the towel at the White House because he’s ‘tired of criticism from the left’.
It’s going from bad to worse for tech billionaire and Trump supporter Elon Musk.
He has decided to pull back from his “department of government efficiency” (DODGE) role in the Trump administration after the latest figures from yesterday showed that Tesla profits fell by 71% to $409m compared with $1.39bn in net income the previous year.
Tesla also saw a 9% drop in revenue year over year in the first quarter of 2025. The company brought in $19.3bn in revenue, well below Wall Street expectations of $21.45bn.
The company’s profits have dropped after a backlash against Musk over his support for the Trump administration. Consumers have carried out boycotts while protesters have turned up outside Tesla dealerships in both the US and in Europe.
At the beginning of the year, it was reported Tesla experienced a decline in sales across five European countries in January, including a fall of nearly 12% in the UK.
The company performed poorly in other European countries too, recording a 63% decline in January sales for Tesla in France, drops of 44% and 38% in Sweden and Norway, and a 42% decline in the Netherlands.
It’s also been reported that Musk is throwing in the towel at the White House because he’s ‘tired of criticism from the left’.
Basit Mahmood is editor of Left Foot Forward
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