Tesla earnings fall short; Elon Musk says DOGE time will 'drop significantly'

Core Viewpoint - Tesla experienced a significant revenue decline in the first quarter of 2025, primarily driven by a drop in electric vehicle sales and fewer vehicle deliveries compared to the previous year [1][5]. Group 1: Financial Performance - Tesla generated $13.97 billion in automotive revenue in Q1 2025, a nearly 20% decrease from the same quarter last year [1]. - The company's overall revenue, including automotive, energy generation and storage, and services, was $19.3 billion, down 9% year-over-year [2]. - Tesla reported a net income of $409 million and diluted earnings per share of $0.27 for the quarter [7]. - The operating margin decreased by 343 basis points year-over-year, reaching 2.1% [9]. Group 2: Vehicle Deliveries and Market Factors - Vehicle deliveries totaled 323,800 in Q1 2025, a decline from 386,810 in the same period last year [5]. - The decrease in revenue was attributed to fewer vehicle deliveries, a reduced average selling price, and sales incentives [4]. - The company noted increasing uncertainty in the automotive and energy markets due to rapidly evolving trade policies affecting the global supply chain [7]. Group 3: Energy and Services Revenue - Revenue from energy generation and storage increased by 67% year-over-year, reaching $2.73 billion [7]. - Services and other revenue grew by 15% year-over-year, totaling nearly $2.64 billion in Q1 [7]. Group 4: Future Outlook - The company remains on track to start production of new vehicles in the first half of the year, including more affordable options [11]. - Growth in both vehicle and energy businesses will depend on various factors, including production ramp-up and macroeconomic conditions [11].