Tesla is facing stiffer competition globally from electric vehicle players, especially low-cost competitors from China.

Tesla's shares price declined 1.74% for the week on Friday, two days after posting declining profits for a third straight quarter amid increased competition and a pending loss of federal tax credits.

Tesla shares fell 8% on Thursday after the company reported its second consecutive quarter of declining auto sales and missed revenue estimates, according to CNBC. Automotive revenue dropped 16% year over year to $16.

At the risk of sounding like investing guru Cathie Wood, Tesla (NASDAQ:TSLA) has a clear path to be a $20 trillion stock. The pioneer in electric vehicles (EVs) and sustainable energy has transformed the automotive industry since its founding 22 years ago,

Elon Musk's electric-vehicle maker reported a 12% drop in quarterly revenue, and a steeper decline in net income. + Musk highlighted plans to release a lower-priced Model Y electric vehicle, spoke about his hopes for a new pay package and talked up plans to roll out Tesla robotaxis more widely.

The company reported the steepest decline in quarterly revenue in more than a decade, with a 12% fall, as it battles strong competition from cheaper electric vehicles and a backlash against CEO Elon Musk’s political views.

Tesla stock falls more than 6% pre-market after Q2 earnings call. Sales decline, EV incentives end, and new Model Y trim disappoints.

Tesla reported another quarter of reduced profits after Elon Musk’s stint in the Trump administration. The president’s tax bill creates new business challenges.

Due to Tesla's innovation and diversification, 24/7 Wall St. sees strong upside potential for the stock by the end of the decade.