Tesla Inc. said on Wednesday it expected to miss its vehicle delivery target this year, but downplayed concerns about softening demand after its revenue missed Wall Street estimates.
Chief Executive Elon Musk told analysts on a conference call there was excellent demand in the fourth quarter, addressing investors’ concerns that buyers could be discouraged by the weak global economy and high prices for Tesla vehicles.
But Tesla said some logistics challenges would persist, with fourth-quarter deliveries growing by less than 50 percent while production rose 50 percent .
“I wouldn’t say we’re recession proof, but it’s certainly recession resilient,” Musk said….