The Tesla Cybertruck has already caught up and accelerated past most of its competitors in terms of registration data, outselling all but one other electric pickup truck currently available on the market in March.
According to data from S&P Global Mobility, the Ford F-150 Lightning continued to lead the electric pickup segment, but the Cybertruck easily came in second place, outpacing the Rivian R1T and other EV pickups in March 2024 registrations.
The data from S&P and reported by Automotive News shows the Ford F-150 Lightning achieved 2,893 registrations in March, a near tripling from the same time in the previous year. The Tesla Cybertruck, in its fourth month of availability, registered 1,158 units, surpassing the Rivian R1T’s 548 registrations by a significant margin.
Rounding out the top five EV trucks were the Chevy Silverado EV (319) and GMC Hummer EV (192).
| Model | Registrations | Change vs. March 2023 |
|---|---|---|
| Ford F-150 Lightning | 2,893 | +191% |
| Tesla Cybertruck | 1,158 | N/A (New Model) |
| Rivian R1T | 548 | -65% |
| Chevrolet Silverado EV | 319 | N/A (New Model) |
| GMC Hummer EV | 192 | N/A |
In Q1 2024 registrations, the Cybertruck is also sitting in second place with 1,791, just slightly ahead of the Rivian R1T at 1,786.
The Ford F-150 Lightning maintained its lead with 8,589 registrations in Q1 2024, marking a 51% increase compared to the same period last year.
| Model | Sales Q1 2024 | Change vs. Q1 2023 |
|---|---|---|
| Ford F-150 Lightning | 8,589 | +51% |
| Tesla Cybertruck | 1,791 | N/A (New Model) |
| Rivian R1T | 1,786 | -56% |
| Chevrolet Silverado EV | 803 | N/A (New Model) |
| GMC Hummer EV | 400 | N/A |
The production capabilities of Tesla have ramped up significantly, with the company achieving the production of 1,000 units in a single week during Q1 2024. This increased production, combined with a substantial order bank, has allowed the Cybertruck to quickly establish a foothold in the market.
Tom Libby, associate director of industry analysis at S&P Global Mobility, was surprised at the Cybertruck’s rapid market penetration. “In its fourth month, the Cybertruck had over a thousand registrations and outsold the R1T by more than two to one. And frankly, I’m a little bit surprised. The Cybertruck is very, very unique, and it’s interesting that it’s been able to do that type of volume so quickly.”
The Cybertruck was introduced with only a Foundation Series available, starting at US$99,990 for the Dual-Motor or US$119,990 for the tri-motor CyberBeast. Rivian reduced the R1T’s base price by $3,100 in February by introducing new battery packs, bringing it to US$71,700. Ford’s F-150 Lightning remains the most affordable among the top competitors, starting at US$57,090.
