{"id":1449466,"date":"2022-04-22T06:41:50","date_gmt":"2022-04-22T10:41:50","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1449466"},"modified":"2022-04-22T06:41:54","modified_gmt":"2022-04-22T10:41:54","slug":"elon-musk-says-inflation-much-worse-than-reported-on-tesla-earnings-call","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-says-inflation-much-worse-than-reported-on-tesla-earnings-call\/","title":{"rendered":"Elon Musk Says Inflation Much Worse Than Reported on Tesla Earnings Call"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Felon-musk-says-inflation-much-worse-than-reported-on-tesla-earnings-call%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1449466&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<section data-v-f313b7e6=\"\">\n<p>Elon Musk says he thinks inflation is worse than people believe, and that it will likely keep going through 2022.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>During a company earnings call on Tuesday, Tesla CEO Elon Musk issued a warning about inflation.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>He told shareholders that the official numbers hide the severity of the situation, and that in reality, things are much worse.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\"><\/section>\n<section data-v-f313b7e6=\"\">\n<p>&#8220;I think the official numbers actually understate the true magnitude of inflation,&#8221; Musk said, &#8220;and inflation appears to be likely to continue for at least the remainder of this year.&#8221;<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>He went on to state that some Tesla suppliers are requesting 20% to 30% cost increases for parts in 2022 compared to 2021.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>&#8220;What&#8217;s keeping costs down at least in the short term is that we have locked in contracts with suppliers,&#8221; he said, warning that, &#8220;those modular contracts will obviously run out, and then we&#8217;ll start to see potentially significant cost increases.&#8221;<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>Musk assured analysts that Tesla would not raise prices in the near future, but added that &#8220;obviously, we don&#8217;t control the macroeconomic environment,&#8221; or whether &#8220;governments keep printing vast amounts of money.&#8221;<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>Inflation has been on the minds of Americans for some time now, and the numbers paint a bleak picture. <\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>In April, consumer prices <a href=\"https:\/\/thepostmillennial.com\/bidenflation-consumer-prices-surge-to-40-year-high\">surged<\/a> to a 40-year high. Since the COVID-19 pandemic began, Americans have seen everything become more expensive, including food and energy.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>The ongoing war in Ukraine has also caused prices to go up as interruptions to the global supply chain continue.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>For many, the blame sits at the feet of President Biden, who has been <a href=\"https:\/\/thepostmillennial.com\/after-a-year-in-office-people-are-frustrated-at-biden\">criticized<\/a> for his handling of the situation. <\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk says he thinks inflation is worse than people believe, and that it will likely keep going through 2022.During a company earnings call on Tuesday, Tesla CEO<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1449466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1449466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1449466"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1449466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1449466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1449466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1449466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}