Tesla Dominates US Electric Vehicle Sales in Q3, But Cybertruck Falls Short
The third quarter saw Tesla maintaining its stronghold on the US electric vehicle market. However, the company’s Cybertruck failed to make the top 10 list of best-selling EVs, a notable disappointment.
The EV industry as a whole experienced a surge in sales in Q3, driven by the impending loss of the $7,500 EV tax credit. As the credit was set to expire, consumers rushed to dealerships to take advantage of the incentive. According to Cox Automotive’s Q3 Electric Vehicle Sales Report, 10.5% of total US automotive sales in Q3 were electric, a new record that surpassed the 8.6% recorded in Q3 2024.
Top 10 Best-Selling EVs in Q3
- Tesla Model Y – 114,897 units sold
- Tesla Model 3 – 53,857 units sold
- Chevrolet Equinox EV – 25,085 units sold
- Hyundai Ioniq 5 – 21,999 units sold
- Honda Prologue – 20,236 units sold
- Ford Mustang Mach-E – 20,177 units sold
- Volkswagen ID.4 – 12,470 units sold
- Audi Q6 e-tron – 10,299 units sold
- Ford F-150 Lightning – 10,005 units sold
- Rivian R1S – 8,184 units sold
While Tesla dominated the market with its Model Y and Model 3, other manufacturers, such as Chevrolet, Honda, and Ford, also saw significant sales. Notably, Ford had two vehicles in the top 10, matching Tesla’s count.
Cybertruck Sales Disappointment
The Cybertruck, with 5,385 units sold in Q3, was the second-best-selling EV pickup, behind the Ford F-150 Lightning. However, this sales figure was seen as a disappointment, given the initial hype and expectations surrounding the vehicle’s launch.
The main issue with the Cybertruck is its pricing. Initially, Tesla offered the pickup in Single, Dual, and Tri-motor configurations at $39,990, $49,990, and $69,990, respectively. However, these price points are no longer available, and the current pricing is likely to be a major factor in the vehicle’s relatively low sales.
As the EV market continues to evolve, it remains to be seen whether Tesla will be able to thrive without the EV tax credit. For more insights, check out our article on the five reasons why Tesla might succeed without the credit. [link to Teslarati article]
Key Takeaways
- Tesla dominated the US EV market in Q3, with the Model Y and Model 3 leading the charge.
- The EV industry saw a surge in sales in Q3, driven by the impending loss of the $7,500 EV tax credit.
- The Cybertruck sold 5,385 units in Q3, a disappointment given the initial hype and expectations.
- Pricing is a major issue with the Cybertruck, with initial price points no longer available.
