Tesla's profits fell 16% over a three-month period ending in June that overlapped with the end of chief executive Elon Musk's tenure in the White House and his ensuing public clash with President Donald Trump, an earnings release on Wednesday showed.

The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits dropped sharply again in the latest quarter. The car company that has faced boycotts for months said Wednesday that revenue dropped 12% and profits slumped 16% in the three months through June as buyers

Tesla revenue dropped 12%, and profits slumped 16% in the three months through June as buyers continued to steer clear, and in some cases, turn to more affordable competitors' offerings. "The perception of Elon Musk,