The Tesla Cybertruck gets a lot of hate for its polarizing design and even more polarizing creator. However, the Cybertruck also appears to be extremely popular, more popular than all the other electric trucks on the market, and Elon Musk may end up laughing all the way to the bank.
Tesla’s Cybertruck registrations in July almost match overall EV truck registrations in July, suggesting strong demand for the stainless steel low-poly truck, according to data from S&P Global Mobility as reported by Automotive News. Tesla’s overall vehicle sales also rose in July thanks to a boost from the Cybertruck.
Tesla delivered 5,175 Cybertrucks in July, compared to a combined 5,546 registrations of every non-Tesla electric truck, which includes the Ford F-150 Lightning, Rivian R1T, Chevy Silverado EV, and Hummer EV. (Tesla doesn’t break out Cybertruck numbers in its delivery reports, so S&P is using registration numbers to draw these conclusions.)
Tesla also had a 48 percent share of all EV registrations for the month, down from 56 percent at the same time last year as EV competition grows.
EV registrations overall in July are on the upswing, too, climbing to over 118,000 vehicles from almost 101,000 this time last year. Simultaneously, the EV market share of all cars increased by 0.9 percent. EV trucks are a drop in the bucket overall.
Tesla seems to be selling every Cybertruck it makes but still has a lot of catching up to do based on its supposed backlog of 2 million preorders. Tesla has raised the entry price for the Cybertruck several times, and it now costs nearly $100,000. Many reservation holders will need to wait a long time to get their shot at buying a Cybertruck.
