Hundreds of protests at Tesla showrooms have also weighed on the company. Under the banner of a “Tesla Takedown,” opponents of Musk and Trump’s government policies have targeted the company to try to gain leverage over Musk, and demonstrators have continued to swarm Tesla locations, especially on weekends.

Tesla sales have been slumping because of intense competition from Chinese carmakers like BYD, a lack of new models and Musk’s support of far-right causes, which has turned off some liberals and centrists from buying Tesla vehicles.

Tesla CEO Elon Musk said he will push for lower tariffs as he steps back from his role in the Trump administration during Tesla's earnings call.

Elon Musk says he’ll be spending less time in Washington slashing government costs and more time running Tesla after his electric vehicle company reported a big drop in profits. Tesla struggled to sell vehicles as it faced angry protests over Musk’s leadership of DOGE,

Elon Musk says he’ll dedicate more time to Tesla starting in May after the company reported a big drop in first-quarter profit.