Weighed down by CEO Elon Musk’s leadership of the Department of Government Efficiency and his enthusiastic political activism, Tesla has seen a dramatic negative turn in net income and revenue as its sales plunge and its stores are vandalized.
General Motors updated its profit guidance for the year because of the uncertainty created for its business by the import tariffs. Stellantis suspended its guidance for the year for the same reason. Nissan booked a $4.5 billion net loss on massive restructuring charges.
Publicly traded dealership groups, meanwhile, are preparing for what they anticipate will be dramatic shifts in the retail market brought on by the tariffs.
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