Tesla, Inc. (NASDAQ:TSLA) shares rose in premarket trading on Tuesday following nearly a 9% decline in the previous two sessions.
Insurance registrations for the vehicles of domestic upstarts Nio, Inc. (NYSE:NIO), XPeng, Inc. (NYSE:XPEV), and Li Auto were at 7,500 units, 3,200 units, and 2,600 units, respectively.
Tesla announced an insurance subsidy of 8,000 yuan ($1,110) for consumers who take delivery of the rear-wheel drive version of Model 3 cars this month, CnEVPost said.
On June 16, Tesla announced that Chinese consumers who purchase and take delivery of an already produced rear-wheel drive version of the Model 3 this month will receive an insurance subsidy of RMB 8,000 ($1,110).
For the period between June 1 and June 25, insurance registration for Tesla vehicles was at 57,300 units.
See Also: Everything You Need To Know About Tesla Stock
Why It’s Important: Tesla is due to announce its second-quarter deliveries, likely on July 2. In the first quarter ended March 30, the company delivered 422,875 units.
On the first-quarter earnings call, Musk said he is comfortable with a full-year 2023 deliveries estimate of 1.8 million units.
In premarket trading on Tuesday, Tesla rose 0.69% at $242.72, according to Benzinga Pro data.
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