Tesla’s decision to close down factories as it retooled its best-selling Model Y, among other temporary problems, contributed to its struggles in the first quarter. But the blowback from Musk’s time in Washington has some analysts and investors worried.

Trump said through his work with DOGE, his cost-cutting task force, Elon Musk and his team have overhauled the work of the federal government, calling it "the most sweeping and consequential government reform program in generations.