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From DOGE to Damage Control: Musk to Scale Back Government Role as Tesla Profits Plunge
Description
Tesla stock is in a nosedive, dropping nearly 40% this year. Profits have plunged 71% year-over-year, and Elon Musk says he’s finally refocusing on Tesla—not Trump. After months of moonlighting in the Trump White House leading DOGE, Musk says he’ll reduce his time with the agency next month.
That comes as Tesla faces a 13% drop in sales and a 9% revenue loss. Who’s to blame? Musk’s political entanglements, fierce competition from China, and backlash to Trump’s steep tariffs. Tesla owners are trading in their cars, and protestors worldwide are torching charging stations and targeting dealerships.
Musk defended lowering tariffs, but said it’s Trump’s call. Critics say Musk’s anti-government crusade through DOGE is now eating away at his own empire. Will stepping back save Tesla, or is it too little too late?
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