Elon Musk in the team of Donald Trump branded and implemented a plan to cut the allegedly unnecessary expenditure of the federal administration. Although most of the Americans praise the idea of the waste of taxpayers' money, Elon Musk himself does not enjoy trust. Tesla's financial results are getting worse. The billionaire promised that he would devote more time to bossing the company.
Nearly a hundred days ago he celebrated the inauguration of Donald Trump. He recently explained himself in a telephone conversation with investors. “I will devote more time to Tesla from next month,” Elon Musk, president of Tesla, promised.
The best priced car manufacturer recorded a gigantic decrease in earnings in the first quarter. Tesla recorded 71 percent lower profit in terms of year on year, which is why Elon Musk will limit her commitment to work for Donald Trump.
– Listen, most of the work on the creation of the government performance department is already completed. I will devote it one or two days a week, as long as the president will want it, as long as I am useful – said Elon Musk.
Musk does not intend to give up politics
Elon Musk has already noted on his social networking site that it is not a resignation from politics. In his telephone conversation with investors, which occurred after the announcement of quarterly results, Musk argued that his work for the government is important. He also convinced the value of his corporation.
– Tesla will be definitely the highest valued company in the world. Maybe it will be even more expensive than five more companies in the ranking combined. On the way, however, we have to beat a few potholes – said Elon Musk.
Elon Musk believes that the company will earn a lot on autonomous vehicles announced for next year, but analysts and investors approach these announcements cautiously. Poor results are not only a matter of an aging model range. The image of the company suffered from Musk's political commitment.
“Most investors want an adult president”
– As a shareholders, we do not want to watch his fun in politics and how he appears in a cheese hat in Wisconsin. It doesn't look good. We just want an adult man who manages the company to sit at the table, and it looks like the fifth grade of primary school. Some of his actions are comical and I sometimes laugh, but I will repeat: most investors want an adult president. And this is missing in Tesla – comments Ken Mahoney, head of the investment company.
The involvement of Elon Musk meant that in the brand -loving California electric cars the sale of the brand fell by 15 percent. The situation does not look good in Europe. In France and Sweden, the brand has recorded the worst sales in four years. In the first quarter of last year, the company sold 386,810 cars. In the first quarter of this year the result was 13 percent lower.
Tesla gave the results. Impact of Musk's political commitmentTvn24
“Tesla is Musk, and Musk is Tesla. If someone claims that the pity for Tesla's image is made up, let them spend some time talking to clients from America, Europe and Asia. Then change his mind” – indicates Dan Ives, an analyst of Wedbush Securities.
Despite the speculation that Donald Trump is considering removing Elon Musk from his surroundings, the billionaire claims that he will stay with the president as long as he needs it. It turns out that Tesla's financial results for the first quarter saved not to sell cars, but to sell exhaust emission rights. Tesla recorded in this category revenues of $ 595 million. Were it not for this amount, Muska would end the quarter with a loss.
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Source of the main photo: PAP/EPA/SHAWN THEW/POOL