Tesla vehicle insurance registrations in China soared sequentially last week, making up ground in the key EV market, with vehicles sales now just slightly off the pace compared to 2024. However, a new report shows Q2 electric vehicles sales sank more than 6% in the U.S. TSLA shares edged higher early Tuesday around key levels.
Tesla insurance registrations in China totaled around 12,300 for the week of July 7-13, up about 145% from the previous week, according to data compiled by independent China auto industry trackers. While it is still early in the third quarter, Tesla registrations in China, a rough gauge for deliveries, are now up nearly 93% compared to Q2.
Tesla China vehicle registrations are down more than 3% compared to Q3 2024 but are now just about 5% year to date in 2025 vs. 2024.
Registrations can vary early in the quarter, depending on how many China-made Tesla vehicles are exported.
The apparent steadying of Tesla vehicle sales in China comes as Cox Automotive reported Monday that U.S. Q2 EV sales declined 6.3%. However, total U.S. electric vehicle sales in the first half of 2025 increased 1.5%, according to Cox Automotive.
"Lower EV sales last quarter underscore the market's ongoing challenges, as growth in the auto business ebbs and flows on consumer demand," Stephanie Valdez Streaty, senior analyst at Cox Automotive, said in the report. "The year-over-year decline in Q2 was only the third decline on record, and a sign of a more mature market."
For the third quarter, the Cox Automotive analyst noted that, with the Biden-era $7,500 EV tax credit going away at the end of September, "the second half of the year will be a critical test of EV demand."
"Q3 will likely be a record, followed by a collapse in Q4, as the electric vehicle market adjusts to its new reality,"Streaty noted Monday.
Tesla reports Q2 earnings and revenue late on July 23. The EV giant also has scheduled its annual shareholder meeting for Nov. 6, 2025, according to federal filings.
Tesla stock advanced as high as 321.20 early before reversing 1.9% lower to 310.78 at the close of Tuesday's stock market. The Wall Street Journal reported Tuesday that Troy Jones, Tesla's vice president of sales, service and delivery in North America, has departed after 15 years at the EV giant.
TSLA advanced 1% to 316.90 on Monday after declining 0.6% last week to 313.51.
Tesla Stock Performance
The stock rallied from late April to late May in part because CEO Elon Musk said he was backing away from politics and the Trump administration. Since then, Tesla stock has tumbled and rebounded according to news cycles generated by debate between Musk and President Donald Trump.
The stock initially soared after the robotaxi launch. However, overall Tesla stock is down about 3.5% since the June 22 service release.
Tesla stock has now formed a new base on a weekly chart with a traditional 367.71 buy point, according to MarketSurge chart analysis. On Monday, shares reclaimed the 200-day moving average but hit resistance at the 50-day line
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At Tuesday's stock market close, Tesla stock was up 30% since the April 22 Q1 conference call, lifted by robotaxi bets. Shares are down about 23% for the year, and 36% below their all-time high of 488.54.
Tesla stock has a 21-day average true range of 4.38%. The ATR metric, available on IBD's MarketSurge charting tool, gauges the characteristic breadth of a stock's behavior. Stocks that tend to make large jumps or dives in daily stock market action, the kind that can trigger sell rules and shake investors out of a stock, have a high ATR. Stocks that tend to make more incremental moves have lower ATRs.
Investors can keep tabs on the IBD Leaderboard watchlist, the IBD 50 list of top growth stocks and IBD SwingTrader along with the IBD Sector Leaders list.
Tesla stock has a 59 Composite Rating out of a best-possible 99. The stock also has an 81 Relative Strength Rating and a 58 EPS Rating.
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