Tesla Stock (TSLA) On Wednesday, early losses reversed after a report from Politico said that the CEO of the company, Elon Musk, would return its duties in the Trump government “in the coming weeks”.
Shares of the electric car manufacturer had fallen no less than 4% in early trade after the company had reported the worst quarter before sales in three years.
According to Policro's Rachael Bade, President Trump “told his inner circle, including members of his cabinet, that Elon Musk will return from his current role in the coming weeks.”
From 1:23:53 pm Edt. Market open.
The Bade report comes only a few hours before Trump will hold a press conference with his new tariff plans about what the president has called “Liberation Day”.
A senior official said that Polico Musk would probably retain an “informal role” as an adviser to the White House. This report follows the call of some on Wall Street, in particular Wedbush's Dan Ives, an old Tesla Bull, who had to “change course” and re -concentrate his energies on the car manufacturer after the 50% of the shares of 50% of its highlights in December 2024.
Earlier on Wednesday, the company reported global deliveries that widened widths in the first quarter, because the demand problems clearly found the maker of electric vehicles.
For the quarter, Tesla reported 336,681 deliveries versus 390,342 estimated, per Bloomberg -Consensus, making it the worst quarter for deliveries since the second quarter of 2022.
“Although the switching of model Y lines in all four of our factories led to the loss of a few weeks of production in Q1, the slope of the new model Y continues to go well,” Tesla said in a statement. The renewed model Y went on sale worldwide in March, with some analysts quoting the switch as a reason for depressive demand for its best -selling vehicle.
Read more about the stock movements of Tesla and the current market promotion.
Tesla also said that it used 362,615 units worldwide for the quarter, used 10.4 GWH of energy storage products and would report the first quarter on Tuesday 22 April.
Tesla's sale is stuck in most of its worldwide areas. Earlier this week, Tesla registration data fell in important European regions in March, another sign that the sale will continue to slide into one of its most important markets, because the Tesla brand has also taken a hit because of the right-wing political activities of CEO Elon Musk.
In France, only 3,157 Tesla EVs were registered, a decrease of 36.8% compared to a year ago, cited by Reuters according to official data. Norway only saw 2,211 registrations, a decrease of 63.9%. Sweden's count of 911 only fell by 1%.
