Tesla Cybertruck races past F-150 Lightning in Q2

Author

Colin Velez
July 17, 2024

Tesla’s Cybertruck has officially outsold its primary competitor, the F-150 Lightning, leaving the Ford pickup in a close second at the end of the last quarter.

Why is this important? Truck buyers and Tesla buyers have traditionally operated on opposite ends of the spectrum, approaching the market with vastly different perspectives and needs. However, that doesn’t mean the division between the two groups is guaranteed to last. As electric pickups become more popular, it’s possible we may start to see the lines become more blurred: this makes early sales data critical for those looking to predict the market.

By the numbers:

  • Tesla sold an estimated 8,755 Cybertrucks during the second quarter according to Cox Automotive, placing it ahead of the F-150 Lightning by about 853 units.

  • Despite losing its spot at the head of the pack, Ford still saw a marked improvement in sales, placing second in the electric pickup segment with 7,902 units, up 77% year-over-year. Rivian’s R1T came in a distant third with 3,309 sales.

  • On a year-to-date basis, the F-150 Lightning remains ahead of Tesla by nearly 4,100 units, but that gap is unlikely to last if Tesla continues delivering at its current pace.

  • Tesla had other, smaller victories to celebrate as well. In May, the Cybertruck sold 3,907 units, making it the fifth best-selling battery-powered vehicle on the market (the Lightning ranked tenth). It also out-performed all models, electric and ICE, priced over $100,000 in June. That being said, sales appeared to have slowed down toward the end of the second quarter.

Note: Tesla’s unique reporting methods make it difficult to accurately identify sales, since it focuses on deliveries rather than transactions and only offers a global total rather than regional numbers. However, we can get a good approximation by looking at registration data for the periods where the Cybertruck was on the market.

Tesla’s victory here is surprising in some ways and less surprising in others. The Cybertruck is the company’s first new model in years and has a backlog of pre-orders dating all the way back to 2019; it’s only natural that it would see rapid growth. And while some have derided the model’s polygonal form, it is sincerely refreshing to see a brand try something new after decades of relatively uninspired vehicle designs.

At the same time, the vehicle’s initial six-figure price point, while only temporary, makes its success just as puzzling, as do the mixed reviews from early adopters.

And at the end of the day, the question still stands: are people buying the Cybertruck because it's an electric pickup or because it's a Tesla?

Bottom line: In spite of its oddities, the Cybertruck has made a cultural impact few other vehicles can boast. But whether this will continue to fuel sales into the future remains to be seen.

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