As Tesla’s sales and profit tumble, investors ask Elon Musk to ditch DOGE and return to automaker

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Elon Musk, the CEO of Tesla, is currently facing challenges as the electric car maker’s first-quarter results fell short of analyst expectations. While investors were eager to hear about the company’s performance during the earnings conference call, many were concerned about Musk’s focus on the Trump administration’s Department of Government Efficiency (DOGE) and its impact on Tesla.

Investors and Wall Street alike are questioning Musk’s priorities, with some urging him to shift his focus back to running Tesla. The company’s stock price has taken a hit, dropping 53% from its recent high in December. Musk’s involvement with DOGE, which includes controversial actions such as cutting federal workers and accessing taxpayers’ data, has not been well-received by consumers and has led to protests worldwide.

While Tesla’s earnings report did not provide specific details about Musk’s DOGE work or his plans for the company, it did warn about the potential impact of trade policy and changing political sentiment on demand for Tesla’s products. Analysts believe that Musk’s association with DOGE could dampen demand for Tesla vehicles by 15% to 20% in the long run.

What time is the Tesla earnings call?

The Tesla earnings call will be webcast at 5:30 p.m. ET here. Despite falling short of analyst expectations, Tesla reported a per-share profit of 27 cents, lower than the forecast of 41 cents per share. Net income also declined by 71% to $409 million, and sales dropped 9% to $19.3 billion.

Tesla shares, which have already fallen 41% this year, remained relatively stable in after-hours trading. The company’s delivery of vehicles in the first quarter of 2025 decreased by nearly 13%, indicating weakening demand for electric cars.

Investors are eager to hear updates on Musk’s role at Tesla and the company’s strategic initiatives, including the launch of a more affordable version of the Model Y SUV and the planned driverless robotaxi service in Austin, Texas. These developments will be crucial in determining Tesla’s future performance.

Aimee Picchi

Aimee Picchi is the associate managing editor for CBS MoneyWatch, covering business and personal finance. With a background in journalism from Bloomberg News and contributions to national outlets like USA Today and Consumer Reports, she brings a wealth of experience to her reporting.