Tesla’s profits dropped a staggering 71% in the first quarter of the year, with revenue and auto sales declining by 9% and 20%, respectively. The company delivered 336,681 cars in the quarter, 50,000 fewer than last year.
Elon Musk will reduce his time commitment to the Department of Government Efficiency (DOGE) to focus on Tesla, citing a need to refocus efforts amid lower profits. However, some analysts blame Musk’s affiliation with President Trump and DOGE for the decline in sales.
Protests at Tesla showrooms have taken place across the nation, resulting in arson attacks, shootings, and vandalism. Experts say Musk’s ties to Trump may lead to retaliatory tariffs on imported vehicles.
Despite this, South Carolina residents are not able to purchase new Tesla vehicles due to state law prohibiting direct sales and servicing of Tesla cars. Some neighboring states allow Tesla sales with minimal restrictions.
The decline in profits has raised concerns about the automotive market, particularly as trade policies continue to evolve. Musk advocates for lower tariffs, but their implementation is ultimately up to Trump’s administration.
Source: https://eu.greenvilleonline.com/story/news/local/2025/04/24/tesla-earnings-fall-71-car-sales-drop-can-you-buy-a-tesla-in-sc/83256996007