Weak Electric Vehicle Pricing Will Spread To New Car Market, Analyst Says

General Motors and Ford, which reported and will report first-quarter earnings on April 26 and May 2, respectively, will try to convince Wall Street that they won't be caught up in Tesla's price hikes on electric vehicles,media reported.

Tesla CEO Elon Musk has pursued a strategy of cutting prices, hoping to dramatically expand sales at the expense of profit margins.

In this case, the shares of General Motors and Ford have been hit.