Ilon Mask has a soft recession that will last for a year and a half

Ilon Mask has a soft recession that will last for a year and a half

At Tesla's annual stockholders' meeting, the head of Ilon Mask first joked that macroeconomic forecasting was a sure road to disaster, but then said that the price dynamics of the goods purchased by the company allowed him to determine the timing and nature of the recession that was beginning: it would be soft and would last for a year and a half.

We recall that Tesla's head had recently noted that the prices of the products purchased by the company had begun to decline, although the company was not ready to talk about the timing of the adjustment of the prices of its own products. He had previously explained that Tesla would be willing to lower the prices of electric vehicles if the increase in the price of materials ceased or would change. This year, the car manufacturer was actively raising the prices of electric vehicles, sometimes to $10,000 per time. The mask explained the need to keep the company safe from future price fluctuations, since it took several months to produce and deliver a customer's electric vehicle, and the market situation was changing dramatically.

According to Ilon Mask's estimates, inflation has already reached its peak, and if there is a recession, it will be relatively soft and will not last for more than 18 months. In discussing plans to spend over the coming years before shareholders, the head of the company explained that most of the finance would be directed towards the expansion of production and research; however, the purchase of shares would not be excluded, but much would depend on the economic environment and the overall well-being of Tesla itself.

A billionaire pointed out that Tesla had received 3 million summaries from applicants last year, and along with SpaceX, the company was one of the most attractive jobs for engineering students. The two companies hired were willing to exchange among themselves if the employees showed interest. In conclusion, Ilon Mask added that Tesla would have done well without him as CEO, even if he had been kidnapped by aliens, but later added that he was not going to leave the post on his own.