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.

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.