Tesla Inc (NASDAQ:TSLA) boss Elon Musk has warned that a global recession is likely to last until the spring of 2024, after earlier this week admitting “a recession of sorts” in Europe and China was impacting demand for its electric vehicles (EV).
"Just guessing, but probably until spring of '24," the world’s richest man commented when asked by a fellow Twitter user how long the recession would last.
Tesla shares have plummeted 48% during 2022, including a 9% drop to a 16-month low on Thursday following its Q3 results, where revenues missed Wall Street expectations.
Alongside the results, Musk also confirmed that delays to self-driving and that the company is on track to fall just short of his full-year delivery target.