Tesla profit slumps 39% as EV sales dry up and tariff worries loom

News Snapshot:

Falling sales have seen Tesla lose its crown as the world’s largest electric-vehicle maker to Chinese rival BYD. Photograph: David Zalubowski/AP Tesla’s first-quarter profit dropped 39 per cent as sales of its electric vehicles plummeted owing to a weak product line-up and a worldwide consumer backlash to Elon Musk’s increased involvement in US politics. Mr Musk has come under investor pressure to address his absence from Tesla as well as the perceived brand damage from his close relationship with US president Donald Trump and his controversial role as head of the so-called Department of Government Efficiency (Doge). His political interventions...