Tesla dominated the US electric vehicle (EV) market in the third quarter, but its Cybertruck was a notable underperformer. The EV industry as a whole saw a boost in sales as consumers rushed to purchase vehicles before the $7,500 EV tax credit expired. Many manufacturers scrambled to push out as many vehicles as possible before the deadline, and Tesla emerged on top with a significant market share.
According to Cox Automotive’s Q3 Electric Vehicle Sales Report, the top 10 best-selling EVs in the US were:
1. Tesla Model Y – 114,897 units sold
2. Tesla Model 3 – 53,857 units sold
3. Chevrolet Equinox EV – 25,085 units sold
4. Hyundai Ioniq 5 – 21,999 units sold
5. Honda Prologue – 20,236 units sold
6. Ford Mustang Mach-E – 20,177 units sold
7. Volkswagen ID.4 – 12,470 units sold
8. Audi Q6 e-tron – 10,299 units sold
9. Ford F-150 Lightning – 10,005 units sold
10. Rivian R1S – 8,184 units sold
Notably, the Tesla Cybertruck did not make it to the top 10 list, despite being a highly anticipated vehicle. It sold 5,385 units in Q3, making it the second-best-selling EV pickup truck, behind the Ford F-150 Lightning.
The Cybertruck’s underwhelming performance has been attributed to its pricing. Initially launched with prices ranging from $39,990 to $69,990, the vehicle’s current pricing is no longer competitive. Tesla fans and owners had high expectations for the Cybertruck, with reservation numbers ranging from one to two million. However, the vehicle’s sales have not lived up to these expectations.
The overall EV market saw significant growth in Q3, with electric vehicles accounting for 10.5% of total US automotive sales, surpassing the 8.6% recorded in Q3 2024. Despite the Cybertruck’s disappointing sales, Tesla remains a dominant player in the EV market.
