Tesla China vehicle insurance registrations continue to lag behind last year, according to the latest data. Meanwhile, Elon Musk's company late Monday continues to move away from being an EV-focused business as the energy division announced a new industrial power storage product.
TSLA shares gained a fraction during Tuesday's stock market.
Tesla Energy Unveils Megablock
In a presentation at RE+25 in Las Vegas, the largest clean energy summit in North America, Tesla on Monday unveiled its Megablock product, the latest addition to its industrial energy storage line. The Megablock includes the next generation Megapack and Tesla claims it is 23% faster to install with around 40% lower construction costs.
Tesla added Monday that the new energy storage product will not need above ground cables between transformers and that it can operate in temperatures as low as minus 40 degrees to as high as 140 degrees with a 25-year life cycle. Musk's company also said that the new Megapack version 3 will partly use cells from Tesla's 7 gigawatt-hour lithium iron phosphate, LFP, facility in Nevada, along with other cell technology sourced from Southeast Asia and China.
Tesla expects deliveries of the Megablock product to begin the second half of next year.
While Musk was not present for the announcement, the Tesla CEO took to X to claim the company is starting to produce its own transformers.
Analysts and many companies have been ringing warning bells on how grid infrastructure, including power transformers and switchgears, must be updated and that manufacturing through the end of the decade is already committed.
China: What's The Vehicle Demand Picture?
Tesla insurance registrations in China totaled 14,300 for the week of Sept. 1-7, up about 14% from 12,500 the previous week, according to data compiled by independent China auto industry trackers. That made it one of the few China EV manufacturers to see sequential growth last week.
Ten weeks into Q3, Tesla registrations in China, a rough gauge for deliveries, are up around 41% compared to last quarter but have dropped 12% vs. a year ago. So far this year, Tesla vehicle registrations in China have declined 7.2%.
Meanwhile, Tesla Model Y sales in China continued to fall last month, ahead of deliveries for the new six-seat Model Y L. Model Y retail sales in China came in at 39,413 in August, down 13% compared to a year ago, according to data compiled by CnEVPost from the China Passenger Car Association (CPCA).
In total, Tesla saw 57,152 retail vehicle sales in China for August, down 9.9% from 63,456 last year but up 40.71% from July, according to data released Monday by the CPCA. This was Tesla's sixth year-on-year monthly decline in China during the first eight months of 2025. From January to August, Tesla sold 361,179 vehicles in China, a 7% decrease vs. the same time frame in 2024.
However, Tesla China sales will likely get a boost in September from deliveries of the new Model Y L, which boasts a slightly lower wheelbase. Model Y L registrations totaled about 900 in the first week.
In the U.S., Cox Automotive data for August shared exclusively to Reuters Monday showed that Tesla's market share dropped to a near eight-year low of 38% as buyers chose electric vehicles from rivals over Tesla's aging lineup.
This comes as analysts broadly expect EV sales to increase through September before the end of the Biden-era $7,500 EV tax credit. Electric vehicle sales are then forecast to plummet in Q4 and into 2026.
Analyst consensus has global Tesla Q3 vehicle deliveries coming in around 433,000, according to FactSet. That would be around 13% above the second quarter total, but still down more than 6% vs. Q3 2024. Few analysts have updated Q3 delivery targets since late July, however.
Tesla Stock Performance
TSLA were mixed during Tuesday's stock market, galloping to 350.77 intraday, before settling up 0.16% to 346.97 at the close. On Monday, Tesla stock advanced as high as 538.44, topping an early entry of 355.39, before reversing lower for a 1.3% drop to 346.40.
Investors also could use the Aug. 27 short-term high of 355.39 as an early entry. The traditional consolidation buy point is 367.71, according to MarketSurge charts.
Tesla stock gained 5% to 350.84 last week, mostly on Friday.
TSLA stock is showing higher lows and generally higher highs in recent weeks, a positive trend. However, the EV giant has flashed aggressive entries multiple in the current base, only to quickly fall back.
The relative strength line for Tesla stock has been moving sideways in recent weeks, reflecting Tesla stock's trend of generally moving with the market.
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Tesla stock has a 63 Composite Rating out of a best-possible 99. The stock also has an 85 Relative Strength Rating and a 53 EPS Rating.
Please follow Kit Norton on X @KitNorton for more coverage.
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