23.04.2025 00:11
Tesla announced that its net profit in the first quarter of 2025 decreased by 71% compared to the same period last year, falling to $409 million. The company's revenue also declined by 9%, dropping to $19.3 billion. It was noted that the protests against Tesla, which began after Elon Musk entered politics alongside former President Trump, could have played a significant role in this decline.
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Tesla, the American electric car manufacturer, saw its net profit decline by 71% in the first quarter of this year compared to the same period last year.
71% DECREASE IN TESLA'S NET PROFIT
Tesla announced its financial results for the January-March period of 2025. Accordingly, the company's revenue decreased by 9% in the first quarter compared to the same period last year, falling to $19.3 billion. Tesla had generated $21.3 billion in revenue in the first quarter of 2024. The electric car manufacturer's net profit also dropped to $409 million in the first quarter, a 71% decrease compared to the same period last year. Tesla's net profit was recorded at $1.39 billion in the same period last year.
The company's earnings per share, which were 41 cents in the first quarter of 2024, fell to 12 cents in the same period this year. Tesla's revenue and profit fell short of market expectations in the first quarter of this year.
DECREASE IN PRODUCTION AND DELIVERY NUMBERS
In the first quarter of 2025, Tesla produced a total of 362,615 vehicles globally and delivered 336,681 vehicles. The company's vehicle production decreased by 16.3% year-on-year during this period, while the number of vehicles delivered also fell by approximately 13%. In a statement from Tesla, it was noted that the uncertainty in the automotive and energy markets continues to increase, negatively impacting the global supply chain and cost structure of Tesla and similar brands due to rapidly evolving trade policies.
The statement indicated that this dynamic could have a significant impact on demand for the company's products in the short term, along with changing political sensitivities.
MUSK'S ENTRY INTO POLITICS MADE TESLA A TARGET FOR PROTESTS
The brand owned by billionaire Elon Musk has faced protests and boycotts due to Musk's political actions, which included an active role in the administration of U.S. President Donald Trump. Musk, who supported Trump during the election campaign, was appointed head of the Department of Government Efficiency (DOGE) following Trump's re-election. The steps taken by DOGE, which Musk was responsible for, to reduce costs and the termination of thousands of federal employees became a topic of discussion.
Demonstrations have been held in front of Tesla dealerships owned by Musk in various regions of the U.S., and there have been arrests during the protests. Trump also purchased Tesla vehicles to show his support for Musk, whom he appointed as a senior advisor.
TESLA STOCKS HAVE DROPPED SINCE THE BEGINNING OF THE YEAR
After Trump won the presidential elections held on November 5, 2024, the popularity Tesla had gained diminished due to the political actions of its owner, Musk. Tesla stocks, which lost most of the gains obtained after Trump's election victory, have decreased by 41% since the beginning of the year.
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