The Wedbush analyst highlighted Tesla's shrinking margins in his reaction to the fourth quarter earnings report.
Tesla 's fourth-quarter results are an early sign that the pioneering automaker has entered a new stage, according to Wedbush analyst Dan Ives. Tesla beat estimates on the top and bottom lines for the fourth quarter . However, its automotive gross margin came in at 25.9%, down from more than 30% a year ago.
And now the question is, with a price war happening in China, what does the trajectory look like in 2023," Ives said on CNBC's " Closing Bell: Overtime " on Wednesday. Tesla has apparently implemented widespread price cuts in recent weeks, which could be due in part to increasing competition. "That's what I view as a moment of truth for Tesla.
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