Tesla’s Profits Plummet 71% as Half of CNBC Poll Respondents Give Musk the Thumbs-Down

Elon’s empire stumbles—TSLA’s Q2 earnings crater while public sentiment sours. Another ’visionary’ pivot or just bad math? Wall Street shrugs, buys the dip anyway.

Elon Musk Polarizes Americans, New CNBC Poll Finds

Conducted between April 9 and April 12, the poll shows that just 27% of participants feel positively about Tesla, with 24% neutral about the Austin, Texas-based company.

Similarly, just 36% saw the SpaceX CEO in a positive light, while 16% felt neutral toward him.

The results of CNBC’s latest poll could indicate waning support for the Department of Government Efficiency (DOGE) head and high-profile crypto investor amid his new role as a special government employee under U.S. President Donald Trump’s administration.

Tesla Profits Plummet, Q1 Report Shows

On Tuesday, Tesla posted a 71% plunge in profits for Q1 2025, with first quarter revenue down by 9% from the year prior.

“Uncertainty in the automotive and energy markets continues to increase as rapidly evolving trade policy adversely impacts the global supply chain and cost structure of Tesla and our peers,” Tesla said in its first earnings report of the year.

“This dynamic, along with changing political sentiment, could have a meaningful impact on demand for our products in the near-term,” the organization added.

Tesla stock is down over 40% year-to-date, with several attacks launched against the electric car company’s dealerships, vehicles and charging stations in recent months.

During a town hall backed by his crypto-friendly America PAC, Musk acknowledged how his political involvement has affected his businesses.

“My Tesla stock, and the stock of everyone who owns Tesla, has roughly halved,” he said at the event hosted by his crypto-friendly America PAC. “I mean, it’s a big deal.”