In a rollercoaster ride for Tesla Inc., the company's stock closed at its lowest point in five months, amidst growing concerns about electric vehicle (EV) demand, as reported by MarketWatch. Shares of Tesla ended nearly 5% lower on Monday, marking its lowest close since May 26.

The downward trend in Tesla's stock price has persisted since the company reported its third-quarter results earlier this month. On October 19, just a day after the earnings report, Tesla witnessed its largest one-day percentage decrease, compounding worries among investors.

One factor contributing to the pessimistic outlook is Tesla's warning about the timeline for volume production of its highly-anticipated electric pickup truck, the Cybertruck. Investors took this cautionary statement as a sign of possible delays and uncertainties surrounding the automaker's new model.

Adding to the unease on Monday was the news that Panasonic, one of Tesla's battery partners, announced a reduction in its domestic battery production due to slower sales to Tesla. This further intensified concerns about the demand for EVs, shaking the confidence of investors.

The recent remarks made by Ford executives have also cast a cloud of doubt over the future of EV demand. Last week, Ford stated that EV owners were reluctant to pay a premium for electric vehicles compared to traditional internal combustion-engine cars. This revelation has led to growing uncertainties within the market.

Tesla had experienced a remarkable surge in its stock price this year, with gains of 60% so far, significantly outperforming the broader market. In contrast, the S&P 500 index witnessed gains of approximately 9%.

The fluctuations in Tesla's stock price reflect the volatile nature of the EV industry, with market sentiment being easily influenced by factors such as manufacturing setbacks, uncertainties about new model releases, and concerns about overall consumer demand.

It remains to be seen how Tesla will navigate these challenges and regain investor confidence. As the company continues to innovate and expand its product lineup, it will have to address concerns surrounding the demand for EVs, provide realistic projections, and demonstrate its ability to meet production targets.

Overall, the recent drop in Tesla's stock price emphasizes the need for both automakers and investors to closely monitor the ever-evolving landscape of the EV market, as the industry works towards a greener and more sustainable future.