Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
21 October 2022 | Other

Elon Musk suggests that the recession will last until 2024

Tesla Inc

This week, Elon Musk said that the recession taking place in China and Europe is negatively affecting demand for Tesla electric cars. When subscribers of one of his social networks asked how long he thought the recession period would last, Musk claimed he didn't expect it to end before spring 2024. Musk didn’t specify which region, China or Europe, he was referring to.

Back in June, Musk expressed his concerns about the economic situation, worrying that Tesla needed to cut 10% of its employees. However, Musk later clarified that it was about salaried workers.

As Tesla recently increased spending on new factories in Berlin and Austin, the company's gross margin wasn’t big enough to satisfy the automotive industry.

Company MarketCheese

Recommended

United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has increased from 546 to 548
Yesterday at 6:05 PM
United States. U.S. Baker Hughes Oil Rig Count. The value of the indicator remained at the same level of 414
Yesterday at 6:05 PM
United States. Michigan 1-Year Inflation Expectations. The value of the indicator has increased from 4.6% to 4.7%
Yesterday at 3:00 PM
Canada. Unemployment Rate. The value of the indicator has decreased from 7.1% to 6.9%
Yesterday at 1:30 PM
Germany. Germany Trade Balance. The value of the indicator has decreased from €16.9B to €15.3B
Yesterday at 7:00 AM
Top news
United Kingdom. BoE Interest Rate Decision. The value of the indicator remained at the same level of 4%
6 November
European Union. Retail Sales (MoM). The value of the indicator remained at the same level of -0.1%
6 November
Australia. RBA Interest Rate Decision. The value of the indicator remained at the same level of 3.6%
4 November
United States. ISM Manufacturing PMI. The value of the indicator has decreased from 49.1 to 48.7
3 November
European Union. Manufacturing PMI. The value of the indicator remained at the same level of 50
3 November
All news

Forecasts

GBPUSD sell
Period: 31.12.2025 Expectation: 1000 pips
Selling GBPUSD following yesterday’s BoE meeting
TA Other FA Other
Yesterday at 10:30 AM 25
Bruce_Powers
Brent sell
Period: 21.11.2025 Expectation: 300 pips
Brent crude pulls back and gives up its previous gains
FA Other Indicators Chart analysis
Yesterday at 08:31 AM 24
Tom_Kern
GBPUSD sell
Period: 10.11.2025 Expectation: 1300 pips
Selling GBPUSD down to 1.30160
TA Other FA Other
06 November 2025 25
Bruce_Powers
Natural gas buy
Period: 14.11.2025 Expectation: 300 pips
Golden cross signals potential gas rally
FA Other Indicators Chart analysis
06 November 2025 68
John_Bullard
USDCAD buy
Period: 11.11.2025 Expectation: 600 pips
USDCAD is poised to test six-month high at 1.417
FA Other Indicators Chart analysis
05 November 2025 54
Tom_Kern
GBPUSD sell
Period: 30.04.2026 Expectation: 11000 pips
GBPUSD selloff on weaker UK economic data
Wave analysis FA Other
05 November 2025 32
Bruce_Powers
Go to forecasts