E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Notorious Lazarus Group Attempted Cyber-Attack, Alleges deBridge Co-Founder

August 9, 2022

India Squad for Asia Cup

August 9, 2022

The Car Of Theseus Boldly Goes Where Many Cars Have Gone Before

August 8, 2022
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
Facebook Twitter Instagram
E Amazings
You are at:Home»Automotive»Musk Has Fears Looming Recession Despite Tesla’s Q2 Profit Surge
Automotive

Musk Has Fears Looming Recession Despite Tesla’s Q2 Profit Surge

Paul EasterBy Paul EasterJuly 21, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email


By DCB Editorial, July 21, 2022

Tesla’s Q2 performance has brought an unexpected surge in profit despite price increases and production shutdowns caused by Covid lockdowns in China. Tesla’s CEO, Elon Musk, anticipates the price rises caused by inflation will ease by the end of 2022. And it will still be possible to push for a further 50 percent growth in deliveries. During a recent investor conference call, Musk revealed that Tesla has a production problem not a lack of demand problem.

Musk also revealed the product price rises caused by inflationary pressures were reaching “embarrassing levels”. As an example, the price for the Tesla Model Y has increased by 30 percent, the long-range version now retails for $65,000. Musk also revealed that the new Gigafactories were “gigantic money furnaces”.

Nevertheless, Musk was confident that the new factories in Texas and Berlin can reach the 5,000 car per week production milestone by the end of the year. The newly constructed and operational Berlin Gigafactory is already producing 1,000 EVs per week.

Despite seeing a profit surge Tesla’s Q2 revenue actually fell to $16.93 BN from $18.76BN compared to the same time last year.

In an email sent to top Tesla executives last month, Elon Musk wrote that he had a “super bad feeling” about the state of the economy. Musk said that the company will need to cut salaried staff by 10 percent and pause all new hiring worldwide.

Musk believes that the world economy is heading toward recession, if not it is already in the early stages of one.

Elon Musk - Why So Serious?



Source link

Paul Easter

Related Posts

Sterile Corporate Monolith Stellantis Is At War With China

By Paul EasterAugust 8, 2022

Red Neck Mechanic, Scotty Kilmer, Reviews The Toyota Tundra

By Paul EasterAugust 8, 2022

Testing The All Electric Rolls Royce Spectre is A Cushy Job

By Paul EasterAugust 8, 2022

Why You Should Have an Emergency Fund for Your Luxury Car Maintenance Costs

By Paul EasterAugust 8, 2022
Add A Comment

Comments are closed.

Our Picks

Notorious Lazarus Group Attempted Cyber-Attack, Alleges deBridge Co-Founder

By Paul EasterAugust 9, 2022

India Squad for Asia Cup

By Paul EasterAugust 9, 2022

The Car Of Theseus Boldly Goes Where Many Cars Have Gone Before

By Paul EasterAugust 8, 2022
Recent Posts
  • Notorious Lazarus Group Attempted Cyber-Attack, Alleges deBridge Co-Founder August 9, 2022
  • India Squad for Asia Cup August 9, 2022
  • The Car Of Theseus Boldly Goes Where Many Cars Have Gone Before August 8, 2022
  • Distressed Crypto Platform Zipmex to Resume Some BTC and ETH Withdrawals (Report) August 8, 2022
  • Ed-tech, offline players take merger route for sustainable business model post-pandemic August 8, 2022
  • Bronx State Senate Candidates Square Off August 8, 2022
  • Syrma SGS Technology IPO: Subscription opens on Friday; Check price band and key details August 8, 2022
Archives
  • August 2022
  • July 2022
  • June 2022
Facebook Twitter Instagram Pinterest TikTok
  • Home
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.