Mitch McCann: US Correspondent on reports Elon Musk is leaving DOGE

Tesla may benefit when founder Elon Musk leaves his government role.  

There are reports the billionaire will leave his role at the Department of Government Efficiency to take a much smaller role in the administration.  

It comes as auto maker reports a 13 percent drop in vehicle sales in the first three months of the year.  

US Correspondent Mitch McCann told Andrew Dickens rumours of Musk's departure are already having an effect on Tesla's fortunes.  

He says it's sent stocks up five percent.

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Episode Transcript

Speaker 1 (00:00):
To America. We go, Mitch, we can good morning, Good morning.

Speaker 2 (00:03):
How are you, Andrew. I'm well.

Speaker 1 (00:04):
Elon Must's time at Doze could be coming to an end.

Speaker 2 (00:08):
Yeah, this is a big story and it's only come
out very recently this morning. Now, Tesla stock has suffered
brutal blows already this year. In the first four months
of the year, or first three months of the year rather,
its stock has been down thirty six percent right, and
this morning the company announced that sales or deliveries of
its vehicles were down around thirteen percent in the last

(00:31):
quarter as well, so bad news for Tesla. It was
also down around one and a half percent this morning. Now,
there's a new report that's come out saying that Donald
Trump has told some of his cabinet secretaries and top
officials that Elon Musk's time might be coming to an
end at the White House simply because he's done the
job he needs to do and he needs to go
back to his other companies. The quote that's running on

(00:52):
this from Donald Trump is that he said there will
be a point at which the secretaries will be able
to do this work, and that Elon Musk has a
big company to run now. As a result of that
story coming out this morning, Tesla's stock is up nearly
five percent. So if there was ever a question whether
Tesla's brutal few months has been based on him involved

(01:12):
with the White House, I think we have our answer.

Speaker 1 (01:14):
Yes, indeed, And of course the other side will say
boycott's and vandalism work, but we don't want to hear
that sort of thing. Now, we've been talking about Liberation
Day now for a couple of days, and now it's
coming nine o'clock our time, so that's in about three
hours time. We've already talked about this this hour. What's
your take on it?

Speaker 2 (01:29):
Yeah, this is going to be an interesting one, and
I think one of the biggest things we're looking at
is what's going to happen, because there have simply been
no leaks that have really come from the White House
giving a clear indication of what's going to happen here
and which countries are going to be affected. Donald Trump
has given some hint that he might be going easier
than he was first going to. There's a lot of
volatility in the US stock market at the moment. Donald

(01:51):
Trump is someone that watches the markets very closely and
It's interesting to know this is going to happen at
four o'clock local time here on the East Cone, which
is actually when the markets closed, so that would have
been done on purpose, I can imagine. But really I
think it's interesting to note that we have had no leaks.
It's very unknown what's going to happen at the stage
and who's going to be affected.

Speaker 1 (02:12):
Hey, match, I thank you so very very much.

Speaker 2 (02:14):
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