Elon Musk repeats intention to back off of White House role in May as Tesla profits plunge

New York, New York - will significantly his administration work in May to focus on Tesla, the billionaire announced Tuesday as the electric vehicle maker reported a 71% drop in first-quarter profits.

Elon Musk looks on during a Cabinet Meeting in the Cabinet Room of the White House March 24, 2025 in Washington, DC. © Brendan Smialowski / AFP

"Probably in the next month, my time allocation to DOGE will drop significantly," Musk said at the outset of an earnings conference call, referring to his work for the Department of Government Efficiency.

The comments came as Tesla reported profits of $409 million following a that analysts said reflected due to Musk's work for President Donald Trump in .

Revenues fell 9% to $19.3 billion.

The company retreated from its 2025 guidance, citing unpredictability over trade policy and demand.

"Uncertainty in the automotive and energy markets continues to increase as rapidly evolving trade policy adversely impacts the global supply chain and cost structure of Tesla and our peers," the company said.

"This dynamic, along with changing political sentiment, could have a meaningful impact on demand for our products in the near-term."

On the positive side, Tesla said it was on track to launch new vehicles "including " in the first half of 2025.

Tesla also confirmed in a press release that a planned launch of for autonomous driving in Texas remained "on track" by June.

Musk reiterated his bullish outlook on the long-term prospects for Tesla, highlighting its leadership in key growth areas: robotics, autonomous driving, and artificial intelligence.

ELON MUSK: "The large slug of work necessary to get the DOGE team in place is mostly done, and I think, starting probably next month, my time allocation to DOGE will drop significantly.

I'll have to continue DOGE for I think we've laid the remainder of the President's term just… pic.twitter.com/KIYqa9AWVU

— Robert Johnson (@the_dogereport) April 22, 2025

DOGE work is "mostly done," says Elon Musk People smash a Tesla car during anti Elon Musk protest at Hardess Studios in south London on April 10, 2025. © HENRY NICHOLLS / AFP

Musk, the world's richest person, donated more than $270 million to Trump's 2024 presidential campaign.

Analysts have warned of significant brand damage to Tesla from Musk's leadership role in DOGE, which has granted itself access to government databases with sensitive personal information and implemented thousands of job cuts.

The shakeup to US government operations has led to questions about programs like the and the continuation of programs like and .

Since Trump returned to the White House, Tesla has been targeted for while sales have dived across many markets and prices of used Teslas have plunged in a sign of the brand's unpopularity.

On the call, Tesla Chief Financial Officer Vaibhav Taneja described the reaction as "unwarranted hostility to our brand."

In his opening comments, Musk defended his work for DOGE, dismissing critics as "paid" beneficiaries of the "waste and fraud" he alleges.

But Musk said the adding he would not exit government work entirely.

"I think I'll continue to spend a day or two per week on government matters, or as long as the president would like me to do so, and as long as it is useful," Musk said. "But starting next month, I'll be allocating far more of my time to Tesla."

Besides its image, Tesla pointed to Trump's as another headwind for the company, while noting the EV maker is better situated than rivals that rely extensively on imported vehicles in the US.

Elon Musk says he expects DOGE to hit its 130-day goal of slashing government funding and dissolve in May as originally planned. pic.twitter.com/kmfoB9ICNW

— Rey Harris (@RHarris_TAG24) March 29, 2025

"I will weigh in with my advice with president, which he will listen to... but then it's up to him, of course, to make his decision," Musk said of Trump. "I've been on the record many times as saying that I believe lower tariffs are generally a good idea for prosperity."

Shares of Tesla rose 4.7% in after-hours trading.