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The first-quarter results for Tesla are in, and they're not great, with the now-controversial electric vehicle brand shaving sales and profit over the first three months of 2025.
It's not all doom and gloom, though, with company chief Elon Musk promising movement on cheaper electric vehicles, autonomous taxis and its humanoid robot program, all of which seemingly combined to deliver a five per cent lift to the company's share price.
But the raw numbers surrounding its vehicle business make for hard reading. The company delivered a total 336,681 EVs across the first three months of 2025, down 13 per cent on the same period last year, and officially its worst result since 2022.
Falling sales usually mean falling profit, and so it is in this case, with Tesla reporting a net profit drop of 71 per cent year on year. Specifically, net profit dropped from US$1.39b to US$409m, while revenue dropped nine per cent, or US$19b.
At fault, says Tesla, is a combination of trade confusion thanks to uncertainty stemming from the USA, as well as pushback against the brand over Musk's publicised role within the Trump team.
But a bullish Elon Musk suggested the company would still grow to be the world's biggest, promising "millions of Teslas operating autonomously, fully autonomously, in the second half of next year" as part of a paid-ride program, a focus on his humanoid robot program, and the launch later this year of more affordable Tesla models.
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