Tesla has lost share to Chinese competitors, while Elon Musk’s political activities have led to steep declines in Tesla sales in Europe.

In a bid to regain market share in China, Tesla (NASDAQ:TSLA) is reportedly developing a lower-cost version of its best-selling Model Y in Shanghai. Citing people with knowledge of the matter, Reuters reported that the new model will be more compact and at least 20% cheaper to manufacture than the refreshed Model Y,

After a slight rebound earlier this week, Tesla's TSLA stock is back to falling, keeping with its recent performance. Even U.S. President Donald Trump's purchase of one hasn’t done much to spark real momentum for the electric vehicle (EV) leader.

Tesla stock soared on Wednesday after President Donald Trump and EO Elon Musk decided to run a kind of commercial for the electric-vehicle maker at the White House. The company has eschewed traditional advertising,