Tesla Cybertruck Sales: Third Best-Selling Electric Vehicle in Q3

Tesla’s Cybertruck made a splash in the electric vehicle market, claiming the third spot for best-selling EVs in the United States during the third quarter. This achievement is notable considering it outsold every other EV except Tesla's own Model 3 sedan and Model Y SUV.

Tesla Cybertruck Sales

1. Third Best Selling Electric Vehicle in the US (Q3)

   The Cybertruck's popularity is evident, surpassing other electric vehicles in sales.

2. Outperformed Other EVs Except Tesla Model 3 and Y

   Only Tesla's own Model 3 and Model Y outperformed the Cybertruck in sales during the third quarter.

3. Sales Despite High Trim Model

   The Cybertruck's success is even more impressive considering it was initially only available in its most expensive trim model.

4. Sign of Struggles for Other Automakers in EV Market

   The Cybertruck's strong sales suggest that other automakers like Ford and General Motors are facing challenges in attracting customers for their electric vehicles.

5. Sales Figure: Over 16,000 (Kelley Blue Book)

   Automotive research firm Kelley Blue Book estimated Cybertruck sales at over 16,000 units in the third quarter.

   

Comparison with Other Automakers

1. Ford F-150 Lightning: 7,000 Units

   Ford's electric pickup, the F-150 Lightning, recorded sales of around 7,000 units in the third quarter.

2. Ford Mustang Mach-E: 13,000 Units

   Ford's Mustang Mach-E SUV saw sales of just over 13,000 units during the same period.

3. GM Blazer and Equinox EVs: 32,000 Units

   General Motors reported combined sales of around 32,000 units for its electric Blazer and Equinox models.

4. Rivian Electric Pickup: 3,800 Units

   Rivian, another electric vehicle maker, delivered around 3,800 of its electric pickups in the third quarter.

Tesla's Financial Performance

1. Confirmation of Cybertruck Success (Q3)

   Tesla's financial results for the third quarter confirmed the Cybertruck's strong performance, contributing to the company's overall success.

2. Positive Gross Margin for Cybertruck

   Tesla reported that the Cybertruck generated a positive gross margin, indicating profitability.

3. Total Revenue: $25.2 Billion

   Tesla's total revenue for the third quarter reached $25.2 billion.

4. Profit: $2.2 Billion

   Tesla recorded a profit of $2.2 billion for the quarter.

5. Profit Boost from Regulatory Credits ($739 Million)

   Tesla's profits were boosted by $739 million in sales of regulatory credits to other automakers.

6. Profit Boost from Software Sales (Actually Smart Summon, Full Self-Driving)

   Tesla's profits also benefited from sales of software features like Actually Smart Summon and Full Self-Driving to Cybertruck owners.

7. Cost of Goods Sold Per Vehicle: $35,100

   Tesla reported that the cost of goods sold per vehicle decreased to $35,100, indicating successful cost-cutting measures.

8. Supercharger Station Growth: 20% Year-over-Year (Slowest Growth)

   Tesla's growth in Supercharger stations slowed to 20% year-over-year, the company's slowest growth rate in recent years.

9. Supercharger Team Layoffs and Rehiring

   Tesla's Supercharger team experienced layoffs earlier this year as part of a company-wide restructuring, followed by rehiring efforts.

Summary

• The Tesla Cybertruck sold over 16,000 units in the third quarter, making it the third best-selling EV in the US.
• The Cybertruck outperformed other electric vehicles, including those from Ford and General Motors.
• Tesla reported a positive gross margin for the Cybertruck, indicating profitability.
• Tesla's overall financial performance was strong, with a total revenue of $25.2 billion and a profit of $2.2 billion.
• Tesla's Supercharger station growth slowed to 20% year-over-year, its slowest growth rate in years.