Tesla operating profit sinks 66% for Q1 as boycotts against Musk spread

CEO says he will cut back on his DOGE work in Trump administration

20250422N Tesla Musk Reuters Montage

Electric-vehicle maker Tesla is facing boycotts due to the backlash against CEO Elon Musk. (Source photos by Reuters)

YIFAN YU

PALO ALTO, California -- U.S. electric-vehicle maker Tesla on Tuesday reported an operating profit of $399 million for the January-March quarter, down 66% on the year and the lowest in roughly half a decade, as CEO Elon Musk's involvement in the Trump administration turned potential buyers off.

On an earnings call, Musk said he will be allocating "far more of my time to Tesla," starting in May.

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