(BFM Stock Exchange) – The Director General of the Automobile Group officially left the Doge, an unofficial department which was to cut the ax in the expenses of the federal state. The manager now intends to focus on her businesses, especially Tesla, which is struggling in Wall Street.

Through the small door, Elon Musk leaves from Washington. The entrepreneur and managing director of Tesla has now left the DOGE (“Department of Government Efficiency”), an unofficial department of the Trump administration responsible for cutting ax in federal spending.

Appointed Elon Musk’s special “employee”, Elon Musk set himself the goal, within the DOGE, to achieve $ 2,000 billion in savings, before reviewing its ambitions to 1,000 billion. Ultimately, the DOGE produced, on date, $ 175 billion in cuts, according to its official website. But the real figure could be much lower. The BBC noted, at the end of April, that only $ 32.5 billion in savings were really explained by the organization.

Even if he did not fail to thank Donald Trump, Elon Musk seemed to be more and more against the economic policy of the American president. The leader had pleaded for the establishment of a free trade area between Europe and the United States in April, when Donald Trump was launching his large wave of customs surcharge.

More recently, Musk said he was “disappointed” with the budgetary bill of the White House tenant. Latest sticker: Tesla Energy, on her account X on Wednesday, criticized the abolition of tax aid for the renewable energy projects provided for by the Donald Trump bill, claiming that the measure threatens “the energy independence of America and the reliability of our network ‘”.

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Free fall results

Musk now intends to devote himself fully to his businesses. “Again, I spend 24 hours a day at work and I sleep in conference rooms, servers or factory rooms,” he posted on X last week. “I must be very focused on X/XAI and Tesla (plus the launch of Starship next week) because we have critical technologies to deploy,” he added.

For the shareholders of Tesla, the return to Musk’s affairs removes a thorn from the foot. Investors were clearly concerned about the political commitment of the businessman, fearing that he is made at the expense of the automaker.

Especially since Elon Musk worked at Doge at a time when Tesla is clearly in the hard. Group revenues plunged 20% into the automotive division in the first quarter, the operating margin (2.3% in the first quarter) is now closer to that of a distribution group than a car manufacturer whose profitability has once exceeded 16% or even 17%.

Society sales found in Europe (-46% over the first four months of 2025) while its market share plunged in China (3.2% in April against 7.5% in March). Even in the United States, Tesla sales fell 12.7% in April after 11.2% in March. The action, certainly, resumed on the ground at Wall Street lately. But it has always been down 10% since the start of the year.

In addition to strong competition on certain markets, Tesla faces a complicated macroeconomic environment and suffers from a range of aging vehicles when many rivals come out of new electric models. Byd, for example, launched last week a European version of its Seagull, its best-seller in electric in China.

Fragile catalysts

Certainly, potential catalysts must soon arrive. Bank of America quotes the new low -cost model that is expected to be released this year as well as the group’s Robotaxis launch in Austin, Texas, before a large -scale production on the second part 2026.

But UBS puts this last event into perspective, judging that it could, on the contrary, translate into a drop in Tesla action. The Swiss bank is skeptical both on the capacity of the company to deploy its robotaxis in all American cities and on the calendar for the implementation of this service.

“The potential catalyst for launching low -cost vehicles could also be deleted,” says UBS. “Even if Tesla has confirmed that the new low -cost models are on track to be put into production in the first half of 2025, they will look like current models. It is therefore, in fact, a low -cost version which, in our view, could cannibalize the more expensive existing versions”, explains the Swiss bank.

Better days to come?

Faced with this difficult context, the market needs to see Elon Musk fully invested. The action took more than 5% at the end of April after the company published however catastrophic results. But the markets had been delighted to hear, on the part of the businessman, which he had decided to spend “a lot” less time in the DOGE from May. “This is good news for the shareholders, who have seen the damage caused to the brand by Musk’s off-piste policy, while wondering if their director general still headed the Tesla ship,” said Stephen Innes of Spi.

“Let’s be clear: noisy diplomacy and Musk’s chainsaw in Washington may have scored points on the political level, but it has affected the Tesla brand where it hurts-in Europe, California and in the corners of the market where shareholders are concerned with the ESG (environment, social, governance, the extra-financial criteria, editor’s note”, continued the market specialist.

Another example: May 21 Tesla progressed on the stock market when the tech groups suffered, because Musk assured that he intended to lead the company for at least five years.

“Elon Musk officially left Trump’s White House last night which is music for the ears of Tesla shareholders, Musk now focusing on Tesla and the autonomous vision that awaits her,” rents Dan Ives, Wedbush analyst, in a note written this Thursday, May 29.

“The year 2025 began as a dark chapter for Musk and Tesla because the role of Elon in the Trump and Dogi administration has created a clean life that damaged the brand and placed a black cloud on history. But it is important to note that these days are in the rear view mirror because we now see a re-engaged musk who directs Tesla as director in this future,” he continues.

“Although there is still wood to cut to straighten the growth of the Y model in China and Europe, we think that the essential for investors is that the AI ​​revolution is now coming to Tesla. What will make Tesla one of the best pure players on AI during the next decade,” he hopes.