Tesla China recorded 15,500 new vehicle insurance registrations during the week of June 9 to June 15, 2025, it’s highest to date in Q2.
American electric vehicle (EV) giant Tesla (TSLA) is making a meaningful comeback in China, with its insurance registrations surging 79.4% week-over-week. Tesla China recorded 15,500 new vehicle insurance registrations in the week of June 9 to June 15, 2025, marking its highest figure in Q2 to date. In the prior week, the number stood at 8,640 units.
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According to a CNEV Post report, the latest figure also marks Tesla’s highest number of registrations in China for the past ten weeks. It appears that CEO Elon Musk’s exit from the DOGE committee and his undivided attention on running Tesla’s operations have boosted consumer confidence in the company. Notably, Tesla does not disclose its quarterly Chinese EV delivery numbers, but investors and analysts can gauge its performance using insurance registration figures.
Tesla Reclaims China Market with Record High Registrations
Interestingly, Tesla’s week-over-week growth is the highest among major Chinese EV brands, with its largest rival BYD (BYDDF) reporting a 28.2% week-over-week jump to 70,300 units. Remarkably, Tesla led the pack in growth rate, while XPeng (XPEV) saw a 52.7% week-over-week jump to 6,400 registrations and Nio (NIO) reported a 9.3% week-over-week rise to 4,730 registrations. Unfortunately, Li Auto (LI) recorded a 4.5% week-over-week decline in insurance registrations.
For Tesla, the latest weekly registrations also reflect a 32.5% year-over-year growth. However, Q2 figures to date are still down 3.1% quarter-over-quarter and down 16% year-over-year.
Revamped Tesla Model Y Leads the Pack
The good news for Tesla is that its revamped Model Y is making waves in the Chinese EV market, with industry estimates suggesting that it contributed the bulk of the 80% jump in registrations. According to these estimates, Tesla China delivered 11,200 units of the revamped Model Y autos in the week ending June 15, up 85% week-over-week, and signaling strong demand for the refreshed all-electric crossover.
Thus far, Tesla’s new Model Y has been its highest-volume seller. The company’s Q2 performance could be largely driven by this model’s sales. With two more weeks remaining in the quarter, the strong demand for the revamped Model Y could significantly boost Tesla’s quarterly sales figures.
Meanwhile, Tesla is also dominating the Cars.com Made-in-America Index, with its top four positions held by its EVs among the 117 officially ranked by the company. The Model 3 came in first, the Model Y second, the Model S was third, and the Model X took the fourth spot. Tesla is displaying its commitment to domestic manufacturing. According to the index, the average domestic parts content of the Top 10 cars was 70.3 percent in this year’s rankings.
Is Tesla Stock a Buy Right Now?
On TipRanks, TSLA stock has a Hold consensus rating based on 14 Buys, 12 Holds, and nine Sell ratings. Also, the average Tesla price target of $286.14 implies 9.6% downside potential from current levels. Year-to-date, TSLA stock has lost 21.7%.
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