Tesla profits have taken a plunge with the stock tumbling by more than 40 percent this year. Meanwhile, Elon Musk, on his company's earnings call on Tuesday, said that he will be stepping back from the White House DOGE office in May.

Tesla's profit fell 71% during the first three months of 2025, prompting CEO billionaire Elon Musk to say he'll spend more time away from his federal government role. Tesla earned $409 million,

During an April 22 earnings call for Tesla, Elon Musk announced that he would reduce his hours with DOGE, starting next month, to focus on his role as Tesla's CEO. This announcement came a week after the White House press secretary fired back at claims on X, formerly Twitter, that Musk was leaving his position in the coming weeks.