Tesla recorded a drop in profit of as much as 71 percent of the beginning of the year
Tesla reported on Tuesday that they had recorded a drop of 71 percent in the first three months of this year, which could further increase the pressure on billionaire Elon Musk, the headmaster of the company, to reduce the engagement in the administration of US President Donald Trump and dedicate himself to the management of the company, writes, writes, writes, writes, writes, writes New York Times.
The company reported a $ 409 million earnings, which is much less than $ 1.4 billion in the same period last year. They previously reported a net profit of $ 1.1 billion in 2024, but he subsequently revised this figure for changes in the Kiptoimovina evaluation method.
The sale of Tesla’s vehicles is declining due to fierce competition of Chinese car manufacturers like BYD, lack of new models, as well as because of men’s public appearances and support for the ultimate right political attitudes, which rejected part of liberal and centrist customers.
Despite the problems, Tesla still holds the title of the most valuable car manufacturer in the world according to market capitalization and sells significantly more electric vehicles in the US than any competitor. But the company’s shares have lost about half of their value since mid -December, as investors are becoming more skeptical about the future of Tesla and the Musk’s role in the US government.
The results of the business were significantly below the expectations of analysts from Wall Street. However, Tesla’s shares rose almost 1 percent in extended trading after the announcement of quarterly results. The company did not give forecasts for sale and earnings for the rest of the year, justifying it with great economic uncertainty.
