Musk said his automaker “probably could have a few rough quarters” ahead as federal electric vehicle credits expire soon.

Tesla’s earnings and revenue both fell by double-digit percentages following the biggest sales drop in the company’s history. The automaker also faces a number of financial headwinds, including the loss of a $7,

Tesla shares plunged as much as 10% in early trading Thursday as investors digested another dismal quarter of car sales – and CEO Elon Musk’s admission that slump may not end anytime soon.