Tesla, hammered by protests and plummeting sales, to report 1st quarter performance
Tesla reports first-quarter financial results after the bell Tuesday with the electric bus maker coping with sluggish sales and fallout from its CEO s prominent role in the Trump administration Related Articles US global economic outlook worsens in the face of Trump s tariffs IMF says Your clothes are shedding bits of plastic Here s what people are doing about it this Earth Day Delta plane catches fire at Orlando airport forcing client evacuations Puerto Rico leadership demands answers from Luma after island-wide blackout Survivors of Florida school shootings demand governor reject law lowering gun purchasing age Wall Street expects Tesla to overview a profit of cents per share down slightly from the year-ago quarter Sales are estimated at billion on par with last year s quarter Tesla is fighting an enormous general backlash due to Elon Musk s leadership of a federal administration cost-cutting group that has divided the country and sparked angry protests at Tesla dealerships nationwide Selected analysts have called for Musk to abandon his role in the Trump administration to focus on Tesla Shares of Tesla Inc have tumbled more than this year Tesla investors will be listening closely for updates on several strategic initiatives The company is expected to roll out a cheaper version of its best-selling van the Model Y SUV later in the year Tesla has also commented it plans to start a paid driverless robotaxi system in Austin Texas in June The company that once dominated EVs is also facing fierce competition for the first time Earlier this year Chinese EV maker BYD stated it had developed an electric battery charging system that can fully power up a motorcycle within minutes And Tesla s European rivals have begun offering new models with advanced device that is making them real alternatives just as popular opinion in Europe has turned against Musk FILE Tesla and SpaceX CEO Elon Musk walks to the stage to speak at the Butler Farm Show Oct in Butler Pa AP Photo Alex Brandon file Investors expect Tesla will be hurt less by the Trump administration s tariffs than largest part U S car companies because it makes largest part of its U S cars domestically But Tesla won t be totally unscathed It sources selected materials from abroad that will now face import taxes Retaliation from China will also hurt Tesla The company was forced earlier this month to stop taking orders from mainland customers for two models its Model S and Model X It makes the Model Y and Model for the Chinese sector at its factory in Shanghai
