In the presentation of the third-quarter financial results for 2023, one word seemed to dominate Elon Musk’s speech: “interest rates.” The Tesla CEO expressed a great deal of pessimism about the global economic situation and its potential impact on the electric vehicle industry.
Tesla’s financial results have always been highly anticipated, not only by shareholders but also by industry observers. Just a few months ago, Tesla was reporting impressive growth of around 50%. However, that seems like ancient history now, especially since 2022 brought about multiple global crises. In 2023, it appears that this robust growth trend will continue to moderate.