Tesla Inc Chief Executive Elon Musk said he expected the electric carmaker to have a “great” Q4 even though the company would probably miss its vehicle delivery targets this year.
The billionaire told analysts on a conference call there was excellent demand for the fourth quarter, addressing investor concern that buyers could be discouraged by the weak global economy and high prices for Tesla vehicles.
Tesla is expanding fast despite global economic jitters, and investors are closely watching for signs that the cooling economy would hurt demand.
Musk, the chief executive of Tesla, was answering a question during a call after the electric vehicle maker’s quarterly report.
Tesla has seen its shares tumble about 50% from record highs last November as investors were spooked by a cooling global economy and Musk’s bid to buy social media company Twitter.
Musk also told the conference call he saw a path for Tesla to be worth more than two mammoth companies, Apple Inc and Saudi Aramco, combined. Tesla’s market cap is now under $700 billion, while Apple is worth $2.3 trillion and oil producer Saudi Aramco is worth $2.1 trillion.