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

Sales for the company are down all over the world, despite its recent introduction to new markets, like India. Now, as Tesla struggles to keep its head above water, another significant revenue stream is about to run dry,

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 has offered low-interest loans and other incentives to try to revive sales, but these efforts have depressed the company’s profits. Tesla’s newest model, the Cybertruck pickup, has been a flop. The company sold 4,300 Cybertrucks in the second quarter, according to Cox Automotive, a 50 percent decline from a year earlier.

Shares of Tesla fell Thursday, a day after the company said electric vehicle sales continued to decline. Chief Executive Elon Musk said on the earnings call that the EV business is slumping while its autonomous vehicle business hasn't taken off yet. "We probably could have a few rough quarters. I'm not saying we will, but we could," Musk said.

Tesla and its CEO Elon Musk are walking an increasingly difficult tightrope as the company navigates declining electric vehicle sales and an autonomous driving business that has yet to get off the ground.

The Tesla CEO hosted an earnings call once more long on promises and short on specifics, especially regarding his month-old robotaxi service that has logged only 7,000 driverless miles.