Tesla price cuts show Elon Musk is 'not going to play nice' as the EV leader goes on offense to spur demand, Wedbush says
Tesla's latest slate of price cuts is a sign the company is getting more aggressive as competition heats up in electric vehicles, according to Wedbush analyst Dan Ives. In a Friday note, Ives noted demand has been weakening, and while the price cuts will initially be viewed as a negative by Wall Street,"this was the right strategic poker move by Musk & Co. at the right time."
Tesla has also built up significant production scale worldwide and has margin flexibility to absorb price cuts, while fresh tax credits will add a further tailwind, Ives added.
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