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Elon Musk Surprises in Tesla's Quarterly Report, Is Bitcoin Being Sold Off?
In the financial report for Q1/2025 just released, Tesla reported revenue of 19.34 billion USD, significantly lower than the analysts' forecast of 21.37 billion USD. Revenue from the automotive segment fell by 20%, reaching only 14 billion USD, compared to 17.4 billion USD in the same period last year. The reason is believed to be that Tesla has temporarily halted production at four factories to upgrade in preparation for the new Model Y version, along with implementing lower average selling prices and aggressive promotional programs.
In light of the disappointing results, the company said it will not make any growth commitments for 2025 at this time. Instead, Tesla will reassess its expectations in the second quarter financial report. Tesla Does Not Sell or Buy More Bitcoin Despite the strong fluctuations in the financial market, Tesla confirmed that it did not conduct any Bitcoin transactions in the first quarter, both in buying and selling. This is the first time after several consecutive quarters that Tesla has maintained its digital asset status, despite previously drawing attention by buying and selling BTC on a large scale. This move shows that Tesla is pursuing a more cautious strategy in the context of a globally unstable financial market, while prioritizing cash flow stability amid declining profits. Political Tensions and Tariffs Make It More Difficult for Tesla This financial report is released against the backdrop of CEO Elon Musk spending a lot of time in Washington, engaging in discussions with President Donald Trump and advocating for government reform. However, Trump's strict tariff policy is raising concerns about increased costs for Tesla, especially with imported materials such as batteries, circuit boards, and automotive glass. Tesla's stock has fallen 41% year-to-date, marking the worst quarter since 2022. The company warns that fluctuating trade policies and unpredictable political conditions could significantly impact demand for its electric vehicles and energy products in the near future.