‘I Am Worried’: Elon Musk Signals Alarm for U.S. Economy During Tesla Earnings Call

Elon Musk is expressing concern about the U.S. economy as high interest rates are affecting car sales.

Tesla, which reported a worse-than-expected Q3 2023 on Wednesday, down 37% from the same time last year, is using caution on profit outlooks.

“I am worried about the high-interest rate environment that we’re in,” Musk said while talking about plans for expansion on the company’s Mexico gigafactory during the earnings call. “I just can’t emphasize this enough, that the vast majority of people buying a car is about the monthly payment.

 » …