While the carmaker reported revenue was up 47 per cent from the same time last year, and its car deliveries exceeded Wall Street expectations — but margins came at 18.2 per cent, hitting a four-year low,The momentum behind Tesla's stock was ushered in by investors throughout the pandemic, but one market expert believes the hype can’t last.
He also pointed to the weakness in its self-driving technology and subscription-based business model, as the EV maker has already fallen behind several other firms in these races, and is now facing heightened competition, he added. “When is comes to subscriptions, all of these EV vehicles are going to be computers on wheels. So, that’s not something that’s unique to Tesla. All of the other providers, and there’s a lot of them, can to do the same thing,” he said.