{"id":4799,"date":"2025-04-23T06:00:40","date_gmt":"2025-04-23T06:00:40","guid":{"rendered":"https:\/\/ipp-news.com\/?p=4799"},"modified":"2025-04-23T06:00:40","modified_gmt":"2025-04-23T06:00:40","slug":"musk-to-scale-back-doge-role-after-tesla-profit-slump","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=4799","title":{"rendered":"Musk to scale back DOGE role after Tesla profit slump"},"content":{"rendered":"<div>Tesla CEO Elon Musk said Tuesday he will significantly reduce his involvement in Donald Trump\u2019s administration following a sharp drop in Tesla\u2019s revenue and profit during the first quarter of 2025.<\/p>\n<p>The electric vehicle maker reported a 20% decline in automotive revenue and a 70% plunge in profit year-on-year.<\/p>\n<p>The company cited weakening demand, political backlash, and escalating trade tensions as key contributors to the downturn.<\/p>\n<p>It declined to offer a growth forecast, warning that \u201cchanging political sentiment\u201d could further impact sales.<\/p>\n<p>Musk, who heads Trump\u2019s Department of Government Efficiency (DOGE), said he would cut his government role to just one or two days a week beginning next month.<\/p>\n<p>\u201cThe large slog of work to get the DOGE team in place is mostly done,\u201d Musk said, adding that he would continue serving &#8220;as long as it&#8217;s useful.&#8221;<\/p>\n<p>His political engagement\u2014including a $250 million donation to Trump\u2019s reelection\u2014has drawn widespread protests and calls to boycott Tesla products.<\/p>\n<p>Critics say Musk\u2019s divided focus has hurt the company, while vandalism and demonstrations have erupted at Tesla showrooms worldwide.<\/p>\n<p>Tesla reported $19.3 billion in revenue for Q1, falling short of the $21.1 billion expected by analysts.<\/p>\n<p>The company blamed Trump&#8217;s tariffs on Chinese goods for straining its supply chain and increasing production costs.<\/p>\n<p>Despite these challenges, Tesla shares rose over 5% in after-hours trading after Musk reassured investors the company was still focused on producing an affordable EV.<\/p>\n<p>He also reiterated his support for lower tariffs and hinted that artificial intelligence would drive future growth.<\/p>\n<p>Musk\u2019s move to refocus on Tesla comes amid stiff competition, a shrinking EV market, and internal investor pressure to stabilize performance.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tesla CEO Elon Musk said Tuesday he will significantly reduce his involvement in Donald Trump\u2019s administration following a sharp drop in Tesla\u2019s revenue and profit during the first quarter of 2025. The electric vehicle maker reported a 20% decline in automotive revenue and a 70% plunge in profit year-on-year. The company cited weakening demand, political [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-4799","post","type-post","status-publish","format-standard","hentry","category-english-news"],"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/4799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4799"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/4799\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}