AURN News with Ebony McMorris

From DOGE to Damage Control: Musk to Scale Back Government Role as Tesla Profits Plunge

Tesla profits plunge 71% as Elon Musk steps back from DOGE, facing backlash over politics, tariffs, and global protests targeting the electric car giant.

Ebony McMorris
April 23, 2025

Reading Time: < 1 minute

Tesla stock is in a nosedive, dropping nearly 40% this year. Profits have plunged 71% year-over-year, and Elon Musk says he’s finally refocusing on Tesla—not Trump. After months of moonlighting in the Trump White House leading DOGE, Musk says he’ll reduce his time with the agency next month.

That comes as Tesla faces a 13% drop in sales and a 9% revenue loss. Who’s to blame? Musk’s political entanglements, fierce competition from China, and backlash to Trump’s steep tariffs. Tesla owners are trading in their cars, and protestors worldwide are torching charging stations and targeting dealerships.

Elon Musk attends the finals for the NCAA wrestling championship, Saturday, March 22, 2025, in Philadelphia. A federal judge says Elon Musk’s DOGE can be sued over alleged data privacy violations, raising major questions about its authority and access to sensitive records. (AP Photo/Matt Rourke, file)

Musk defended lowering tariffs, but said it’s Trump’s call. Critics say Musk’s anti-government crusade through DOGE is now eating away at his own empire. Will stepping back save Tesla, or is it too little too late?

Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.

White House Correspondent Ebony McMorris is a native Washingtonian and University of South Carolina alumna. Her passion is mentoring young adults by teaching community empowerment and media education. She is an NAB member and board member of the Thurgood Marshall Center and was presented the President’s Lifetime Achievement Award for contributing more than 4,000 hours of community service under the Obama Administration.