People on average (including the demographic you are talking about) do defer making big capital purchases in this type of environment - it’s the “conserve money

People on average (including the demographic you are talking about) do defer making big capital purchases in this type of environment - it’s the “conserve money in case the worst happens” attitude. Of course there is a demographic who are wealthy enough that a Tesla wouldn’t be a big capital purchase for them. But I don’t think that demographic alone is enough to sustain them as a business. In addition, with governments likely to be looking for cost savings in the coming years, subsidies for electric cars aimed at or claimed by “rich people” (thinking about some European markets here) look like an easy target politically speaking. What might offset that for Tesla is potential for them to grow in China but that’s a difficult one to predict.