Elon Musk believes the US government has understated the 'true magnitude' of inflation
to a 41-year high, according to an official estimate. on Wednesday, Musk, CEO of the carmaker, said:"I think the official numbers actually understate the true magnitude of inflation."Musk was responding to an analyst question about a recent jump in Tesla's prices, which went against the grain of the company's aim to cut prices and make its vehicles more affordable.
In response to another analyst's question about hiking prices further, Musk said Tesla hopes it doesn't have to. "The current prices are for a vehicle delivered in the future, like six to 12 months from now, so this is our best guess," he added. Long-term contracts with suppliers were helping to keep Tesla's costs down in the short term, Musk said. But he recognised that these contracts would eventually come to an end, which could mean potentially significant price rises. for both revenue and earnings for the first quarter of 2022. The company reported that its revenue was up 81% year-over-year, while earnings per share more than doubled.
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