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International Business Times
International Business Times
Business

Tesla Says Profits Plunge 71%, Warns Of 'Changing Political Sentiment'

Tesla Inc. Elon Musk Donald Trump Dan Ives Morgan Stanley United States
WASHINGTON, DC - MARCH 11: X Æ A-Xii, the son of White House Senior Advisor, Tesla and SpaceX CEO Elon Musk, plays with a toy car as Musk and U.S. President Donald Trump speak alongside a Tesla Model Y and a Cyber Truck on the South Lawn of the White House on March 11, 2025. (Credit: AFP)

Tesla reported a 71 percent drop in first-quarter profits Tuesday in results that lagged analyst estimates as Elon Musk's automaker warned of a hit to demand due to "changing political sentiment."

The electric vehicle producer reported profits of $409 million following a drop in auto sales that analysts said reflected brand damage due to Musk's work for the Trump administration.

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