The company's revenues drop, Elon Musk warns of reducing its role in Trump administration

Elon Musk has said he will cut his role in Donald Trump's administration, as the company's profits and revenues have fallen during the first three months of the year.

Sales have dropped as the manufacturer of electric cars faces a sharp response after Musk has become a political object at the White House, reports BBC.

On Tuesday, the firm reported a 20% drop in automobile revenues in the first quarter of 2025, compared to the same period last year, while profits have dropped more than 70%.

The company has warned investors that the pain could continue, refusing to offer an increase forecast, while it has said that “changing political sense” could significantly damage the demand.

The recent decline in company wealth has come after taking on Musk's role in the new Trump administration, which he has acknowledged has removed his focus from the company.

The chief of technology has contributed more than a quarter of a billion dollars to re-election Trump at the head of the White House. It also heads the initiative of the Government Efficiency Department of Trump (Doge) to cut federal spending and lower the government's workforce.

Musk has said that his “time division for Doge” will “ule significantly” starting next month. He has said he would now spend only one to two days a week on government issues “as long as the president wants me to do this and as long as it's useful<5>. /Periscopi/