Tesla, Inc. ( TSLA ) shares are trading lower on Monday. The stock has been under pressure amid rising competition from Chinese electric vehicle (EV) manufactures, declining demand in Europe and protests at Tesla facilities.

What To Know: Tesla has faced increasing competition from BYD, one of its largest Chinese rivals, which recently reported a 127.5% jump in pure passenger EV sales to 124,902 units in February compared to the same month last year.

Tesla reported delivering 495,570 battery EVs in the final quarter of 2024, falling short of BYD's 595,413 battery EVs sold during the same period.

In Europe, the company’s sales dropped by about 45% for the month of January, according to Bloomberg. The American EV producer maintained its position as the world's largest battery EV seller for most of 2024, until the final quarter.

Tesla has also seen an increase in protests and incidents of violence at its facilities, linked to CEO Elon Musk‘s involvement with the Trump administration, according to CBS. Musk is the head of the Department of Government Efficiency which has cut thousands of jobs since it began operating.

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TSLA Price Action: At the time of writing, Tesla stock is trading 15.5% lower at $221.92, according to data from Benzinga Pro.

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