Global Autos Analyst Tom Narayan expressed concerns over the decreasing prices of electric vehicles (EVs), which could potentially hinder profitability for automakers.

What Happened: Narayan, during CNBC’s “Last Call” on Wednesday, pointed out that the pricing for EVs seems to be on a downward trend. This could pose a significant challenge for automakers like Ford Motor Company (NYSE:F) in achieving profitability in the EV sector.

He stated, "If pricing keeps coming down it'll be tough to get there."

See Also: Tesla Q1 Earnings Preview: Is EV Giant No Longer A ‘Growth Stock?’ Analysts Cautious, Want Answers About Robotaxis, Model 2

Earlier, Tesla Inc. (NASDAQ:TSLA) had also announced significant price cuts in all trim levels of its electric vehicles in China, following a round of price cuts in the U.S.

Price Action: As of close on Wednesday, Ford shares closed at $13.26, Tesla at $160.55, and Stellantis at $24.95, according to Benzinga Pro.

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