For the first time, Tesla is failing to grow.
Mr Musk warned that 2024 sales would be significantly lower.
Various reasons/ excuses/ explanations were proffered:
• Consumer demand in Europe is declining, especially in Germany.
• Intensified competition from Europe and China, which could lead to a bloodbath.
• Falling prices. Tesla cannot afford to reduce prices any further.
Musk said that trade barriers need to be introduced on Chinese carmakers; otherwise, they will ‘demolish most other car companies.
Forbes reported: Because Musk is a megaphone for conservative and libertarian ideas, that makes him a magnet for media scrutiny.
And little of that is positive.
The Wall Street Journal decided to provide some icing on the cake:
On 6 January, they published an in-depth article denouncing Mr Musk’s behavioural excesses.
‘The richest person in the world has consumed LSD, cocaine, ecstasy and psychedelic mushrooms, often at private parties around the world.’
And finished the article: Would you buy a car from a junkie?
To add insult to injury, following Elon’s announcement regarding the downturn in profitability means his net worth dropped $18 billion.
However, it is not all bad news; he is still the richest person in the world.