Charlie Munger calls the success of Elon Musk's Tesla a 'minor miracle' in the car business

Berkshire Hathaway Vice Chairman Charlie Munger spoke highly of Elon Musk's electrical conveyance institution Tesla, calling it an astonishing feat successful the American car industry.

"I was surely amazed that Tesla did arsenic good arsenic it did," Munger said successful an interrogation with CNBC's Becky Quick that aired connected "Squawk Box" connected Tuesday. "I bash not equate Tesla with bitcoin. Tesla has made immoderate existent contributions to this civilization. Elon Musk has done immoderate bully things that others couldn't do."

"We haven't had a palmy caller car institution successful a long, agelong time. What Tesla has done successful the car concern is simply a insignificant miracle," Munger added.

Tesla became 1 of the astir invaluable companies successful the world, with a marketplace capitalization implicit $600 billion. The car marker delivered 343,000 vehicles successful the past quarter.

Shares of Tesla are down 45% this twelvemonth aft a adjacent 50% rally successful 2021 and a whooping 743% beforehand successful 2020.

Listen to the afloat interrogation with Munger connected the Squawk Pod podcast.