Tesla says profits plunge 71%, warns of 'changing political sentiment'

MSN - 02:01
Tesla reported a 71 percent drop in first-quarter profits Tuesday in results that lagged analyst estimates as Elon Musk's automaker warned of a hit to demand due to "changing political sentiment." The electric vehicle producer reported profits of $409 million following a drop in auto sales that analysts said reflected brand damage due to Musk's work for the Trump administration.

Tesla reported a 71 percent drop in first-quarter profits Tuesday in results that lagged analyst estimates as Elon Musk's automaker warned of a hit to demand due to "changing political sentiment."

The electric vehicle producer reported profits of $409 million following a drop in auto sales that analysts said reflected brand damage due to Musk's work for the Trump administration.

Revenues fell nine percent to $19.3 billion.

The company retreat...
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