Tesla, Inc. (TSLA  ) shares rose in premarket trading on Tuesday following nearly a 9% decline in the previous two sessions.

What Happened: New registration for Tesla vehicles in China came in at 16,700 units for the week ended June 25, CnEVPost reported, citing a post by rival domestic EV startup Li Auto, Inc. (LI  ). This represented an acceleration from the previous two weeks' 164,000 units and 14,500 units.

Among the luxury vehicle category, Tesla's number compares to 17,500 units each for Volkswagen AG's (VWAGY  ) Audi, BMW AG (BWMYY  ), and Mercedes Benz Group AG (MBGAF  ).

Insurance registrations for the vehicles of domestic upstarts Nio, Inc. (NIO  ), XPeng, Inc.

(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.

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.

Thanks to generous promotional measures, the Elon Musk-led company is expected to report sales ahead of the current consensus. Future Fund's Gary Black said he expects record second-quarter deliveries of 450,000 units, slightly ahead of the consensus estimate of 448,000 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.