A new battery should be ~13.8 volts sitting (2.3volts) per cell....The voltage from the engine is A/C....so I assume your getting that ,then thru the VR,and it's rectified to DC voltage !14.0 to 14.5 volts DC .....with that said ,with the engine running ,and your loosing voltage ,I would say your diode of VR is bad ....BUT all the connections must be clean,so check them all ,AND the grounds are very inportant so be sure all the grounds are touching bare metal....Good luck ,Jim