Amid the slowdown in the general electric vehicle market, Tesla’s Cybertruck model is emerging as a crucial asset for the company in navigating the current market conditions. The company is now experiencing a steady growth in Cybertruck sales in the United States.
Data acquired by Finbold indicates that in the first quarter of 2024, Tesla sold 2,803 Cybertruck units. The Elon Musk-led firm sold 869 units in January, which grew to 925 in February. The unit sales surpassed the 1,000 mark in March, reaching 1,009. Therefore, the cumulative sales translate to an average of 31 units per day in 2024.
Despite Tesla’s steady growth in Cybertruck sales, the company still lags in the electric pickup category in the U.S. Ford (NYSE: F) sold 7,335 units in the first quarter, followed by Tesla’s Cybertruck at 2,803. Rivian’s (NASDAQ: RIVN) R1T ranks third with 2,737 units, while General Motors’ (NYSE: GM) Chevrolet Silverado EV sold 1,061. The GMC Hummer EV ranked fifth with 272 units.
Cybertruck’s impact on Tesla’s brand
Notably, these sales can potentially impact the future of Tesla’s standing in the general EV market. In this context, the research report noted:
“The growth of Cybertruck sales in the first quarter is encouraging for Tesla, which the slowdown in the general EV market has impacted. Notably, Tesla’s other sales have been declining, and the rising Cybertruck sales could help keep the brand afloat. The Cybertruck is considered a unique model due to its distinctive design, and its sales can be deemed successful, especially as it falls into the luxury category of full-size pickups.”
As the EV market continues to seek revival, attention is on whether Tesla can implement strategies to sustain the growth of Cybertruck sales. This growth will also depend on Tesla’s ability to navigate existing challenges, such as recalls.
Read the full story with statistics here: https://finbold.com/tesla-cybertruck-statistics-2024/
