The Tesla Cybertruck surpasses the Ford Mach-E and becomes the third best-selling electric vehicle in the United States.
In the third quarter, Tesla's Cybertruck became the third best-selling electric vehicle in the United States, surpassing all other models not produced by Tesla.
During the third quarter, Tesla's Cybertruck positioned itself as the third best-selling electric vehicle in the United States, surpassing all other non-Tesla EV models. The only vehicles that sold better were the Model 3 sedan and the Model Y SUV. Although its initial sales corresponded to the more expensive version, this achievement highlights the difficulties faced by major manufacturers like Ford and General Motors in attracting customers to their own electric models.
According to an analysis conducted by Kelley Blue Book, over 16,000 Cybertruck sales were recorded in the last quarter. In comparison, Ford sold approximately 7,000 units of the F-150 Lightning and slightly more than 13,000 Mustang Mach-E SUVs. General Motors seems to have had a promising start with its new electric Blazer and Equinox models, totaling only around 32,000 electric vehicles during the quarter. Rivian delivered about 3,800 units of its own electric truck.
Tesla confirmed its third-place position when it released its financial results for the third quarter. In this report, the company announced that the Cybertruck had generated a positive gross margin, indicative of its profitability. During the quarter, Tesla reported $25.2 billion in sales and a profit of $2.2 billion, partly fueled by $739 million in regulatory credit sales to other manufacturers, the second-highest figure recorded in a single quarter.
Additionally, the company indicated that the implementation of its Actually Smart Summon feature and Full Self-Driving (Supervised) software for Cybertruck owners contributed to the recognition of revenue from advance payments. The constant reduction in costs has also influenced the increase in profits, highlighting that the cost of goods sold per vehicle has dropped to $35,100. These strong financial results boosted Tesla's stock price by more than 9% in after-hours trading.
However, not all areas of the business benefit from the cuts. Tesla reported a 20% growth in Supercharger stations compared to the previous year, the lowest increase in years. This comes after a restructuring that included mass layoffs and the subsequent rehire of some Supercharger team members.
