Tesla's Cybertruck is outselling almost every other EV in the US

Does Elon Musk person a deed connected his hands pinch nan Cybertruck?

I wouldn't spell that far. But caller sales data from car manufacture locator Cox Automotive is worthy examining up of Tesla's results later connected Wednesday.

Tesla sold almost 17,000 Cybertrucks successful nan 3rd quarter, according to Cox estimates, making it nan third astir celebrated EV successful nan US during nan period. The only different EVs that sold amended were nan Tesla Model 3 and Y.

So acold successful 2024, much than 28,000 Cybertrucks person been sold. That's much than Ford's F-150 Lightning, Rivian's R1T, and Chevy's Silverado EV, Cox information shows.

Given nan reports of nan Cybertruck's troubles, its divisive design, and antagonistic reviews, these income numbers are surprising.

Some person moreover compared nan Cybertruck's angular assemblage to nan DeLorean and predicted akin doom. However, Tesla's pickup motortruck has already blown that sports car retired of nan h2o successful position of sales. DeLorean only produced astir 9,000 vehicles earlier going bankrupt successful nan 1980s.

There person been different affirmative EV signs lately. General Motors reported amazingly coagulated results earlier this week and highlighted beardown EV sales.

Some of this caller EV spot has been driven by lease incentives, which are disposable successful nan US to much buyers. EV leasing has soared successful caller quarters and accounts for a important information of manufacture income now.

However, you can't lease a Cybertruck, and nan value of this conveyance is very precocious astatine astir $100,000. So, these income are not really driven by incentives.

It's been astir a twelvemonth since this wild-looking conveyance went connected sale. In December 2023, I examined Wall Street expectations. At that time, Tesla was expected to waste astir 48,500 Cybertrucks successful 2024. That was nan mean of forecasts from analysts astatine Goldman Sachs, Morgan Stanley, UBS, Bernstein, and Wedbush.

Tesla would person to waste different 20,000 aliases truthful Cybertrucks successful nan 4th fourth to deed that target.

It mightiness really do it.