*RIVIAN, LUCID AND FISKER 'MAY GO BANKRUPT' AS TESLA CONTINUES TO CUT PRICES - GLOBAL EQUITIES RESEARCH $TSLA $RIVN $LCID $FSKR
Global Equities Research has shared its rather grim outlook for the Electric Vehicle industry, after Tesla announced yet another round of price cuts earlier today.
In their latest note, the analysts warned that with tech layoffs continuing and"accelerating recession," the"EV and automotive sales will continue to remain weak." They noted that despite today's cuts - TSLA reduced the pricing range on Model 3 to $40K-$52K from $42K-53K, and on Model Y to $47K-54K from $50K-$57K - the vehicles are still"priced out of market," and they believe"more price cuts are needed in this brutal recession."
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