Tesla, the electric vehicle manufacturer, announced on Wednesday a 13% drop in global sales during the first quarter of 2025. This decrease is attributed to reduced production due to factory adjustments and the influence of Elon Musk‘s role in the U.S. government.
Tesla delivered 336,681 vehicles in the quarter ending March 31st, falling short of analyst estimates due to lower production during “several weeks” as they update their Model Y.
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The poor results led to more than a 6% fall in the company’s stock value at the opening of Wall Street.
Elon Musk, the world’s richest man and owner of SpaceX and The Boring Company, was appointed by President Donald Trump to head the Department of Efficiency Government (Doge) to cut state spending.
Several Tesla dealerships in the U.S. have faced vandalism incidents recently, protesting Musk’s involvement in government affairs.
