Tesla's shares fell by 3 percent In non -depths, after reports that the company's management began looking for a new president who will replace Elon Musk – writes CNBC.
Members of the board of Tesla turned to several recruitment companies to managerial positions to develop a formal process of finding another director of Tesla, he determined “Wall Street Journal”.
This movement occurs after a sharp decrease in sales and profits of the electric vehicle giant. The Tesla reputation was negatively influenced by Musk, who spent a lot of time in the White House with the US President Donald Trump, By cutting the costs of the federal government as part of the new Doge department.
During the teleconference on Tesla's financial results last week, the billionaire said that from May he intends to devote only “day or two a week” to managing the Department of Government Efficiency (Doge).
Tesla in trouble. Elon Musk does not help
Tesla's total income dropped by 9 percent. year to year, reaching $ 19.34 billion. in the quarter of January-Marzec. It is less than $ 21.11 billion. forecasted by analysts.
Revenues from the automotive segment fell by 20 percent. Year on year to $ 14 billion, because the company had to update production lines in four vehicle factories to start the production of a refreshed version of the popular SUV Model Y. Tesla also assigned a decrease in lower average sales prices and sales incentives as a burden for revenues and profits.
From the beginning of the year, Tesla's shares have fallen by 30 percent.
Source: CNBC
