Tesla Profit Sinks 71%; Musk Vows to Quit DOGE

Elon Musk says he’s stepping back from his high-profile and controversial role in the Trump administration as he returns focus to Tesla, following a plunge in company profits and sales, Chris Isidore reported for CNN.

Tesla reported a 9% decline in total revenue, with auto revenue down 20% and adjusted income falling 39% — steeper drops than analysts had forecast. I Photo: Tesla X

Speaking to investors during a Tesla earnings call on Tuesday, Musk said he would reduce his involvement in the Department of Government Efficiency (DOGE) to just one or two days a week starting in May.

“Starting next month, my time allocation to DOGE will drop significantly,” he said.

Tesla reported a 9% decline in total revenue, with auto revenue down 20% and adjusted income falling 39% — steeper drops than analysts had forecast. The company’s net income, a strict measure of profitability, plunged 71% compared to the same period last year.

President Trump has hinted that Musk may exit DOGE entirely by next month.

Earlier this month, Tesla warned investors that it had suffered the steepest drop in vehicle deliveries in its history, shipping 50,000 fewer cars in the first quarter compared to a year ago. It marked the automaker’s lowest sales figures in nearly three years.