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.

Revenues are declining, the boss is facing a brand problem, and competition in the electric vehicle space is only getting more fierce.

Tesla is facing a rough path ahead and will likely struggle unless Elon Musk fixes his public image, longtime investor Ross Gerber says.

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

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