Tesla shares drop 6% in premarket trading after auto sales plunge again
1. Tesla shares dropped 6% after reporting declining automotive sales. 2. Automotive revenue fell 16% year-on-year to $16.7 billion. 3. Musk warned of possible rough quarters due to tax credit expiration. 4. Competition from Chinese EV makers is rising in key markets. 5. Musk's political activities raise concerns over Tesla's brand image.