Tesla, GM facing 'a nightmare' in China, analyst saysAs mainland China backs away from its zero-COVID policy and loosens restrictions, business optimism and a slight return to normalcy are welcome changes for citizens and investors.“It has been a nightmare,” Wedbush senior analyst Dan Ives told Yahoo Finance regarding COVID's impact on automakers in China.“I think you're starting to see cracks in the armor for the first time in many years and obviously competition is increasing in the EV land, and I almost call it a 'Game of Thrones' going on between Tesla and others, and I think that's the heart and lungs of the EV story — there is pressure on the automakers and it is a storm to navigate.”Tesla (TSLA), which is extremely levered to its China operations for both domestic and international market supply, has had its share of issues in the past year in China.In addition to COVID-related shutdowns in the spring, now the automaker is facing demand-related issues, leading to reported plant output cuts, price cuts of its vehicles in China, and even the addition of insurance subsidies.“I don't believe the longer term story in China is thrown out the window, I just think they're navigating now some really, for the first time in years, some growth challenges, they're cutting prices, ... some supply chain reductions, and now, we got to see not just in Q4, but 2023, 2 million units, that's the line in the sand globally.”That two million figure would be the goal for Tesla deliveries in 2023, representing a 50% CAGR (compound annual growth rate) that Tesla internally targets."