The Tesla Cybertruck continues to make a significant impact in the electric truck market, even with production limited to the Foundation Series. In July, the Cybertruck nearly outsold the combined sales of all other electric pickup trucks in the US market.
According to data from S&P Global Mobility, the Cybertruck accounted for 5,175 of Tesla’s vehicle deliveries during the month. This figure was just shy of the 5,546 combined sales from its competitors, like the Ford F-150 Lightning, Rivian R1T, and GMC Hummer EV.
What makes the Cybertruck’s sales performance even more remarkable is that it is currently sold at a premium price due to its exclusive Foundation Series. The high price, US$20,000 above the regular non-Foundation Series, has not slowed down sales. The results from July mark a 61% increase in Cybertruck registrations compared to the previous month, where over 3,200 Cybertrucks were delivered in June.
In contrast, other electric pickups such as the Rivian R1T and Ford F-150 Lightning have not experienced the same level of sales momentum. Rivian experienced a 0.3% decline in registrations in July, despite the release of its second generation R1T and R1S, the latter of which saw an 18% drop in sales by itself.
The overall electric vehicle market continues to grow, with total EV registrations in the U.S. increasing by 18% year-over-year in July. This marks a total of 118,273 EV registrations compared to 100,620 during the same period in 2023. However, much of this growth has been driven by substantial incentives offered by manufacturers. For example, brands like Kia and Volkswagen have offered discounts of over US$10,000 on select models, making their vehicles more competitive with traditional internal combustion engine (ICE) vehicles.
This is not the first sales accomplishment for the Cybertruck. In June and July it was the best-selling vehicle over $100k in the US. It was also the best-selling electric pickup in Q2, despite deliveries only starting in earnest in Q1.
