Tesla's profit fell 71% during the first three months of 2025, prompting CEO billionaire Elon Musk to say he'll spend more time away from his federal government role. Tesla earned $409 million,

During an April 22 earnings call for Tesla, Elon Musk announced that he would reduce his hours with DOGE, starting next month, to focus on his role as Tesla's CEO. This announcement came a week after the White House press secretary fired back at claims on X, formerly Twitter, that Musk was leaving his position in the coming weeks.

Tesla reported a 71% drop in year-over-year profits on Tuesday, bringing in net income of $409 million for January to March. The company had a $595 million zero-emissions tax credit that helped the company continue to make a profit.