With Tesla’s first quarter in the books, investors will want to see what Wall Street thinks.

“Q1 worse than feared; big promises on the [conference] call,” wrote Baird analyst Ben Kallo. “Results missed our/consensus estimates for most key metrics, and the volume outlook was removed.” In prior updates, Tesla said it expected to grow volumes in 2025. That language was removed from the first-quarter update.

None of that is good, but Elon Musk said he was stepping back from some of his duties at the Department of Government Efficiency. That’s a positive for Tesla investors. What’s more, Tesla maintained that a robotaxi service would start in Austin in June and that a lower-priced model would start production in the first half of 2025.