Does Tesla Have A Hit? Cybertruck Sales Surge
- by Forbes
- Nov 04, 2024
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For real?
The head-scratching, counterintuitive part of all of this is that the Cybertruck was the No.3 best selling EV in the U.S. in the third quarter, according to Cox Automotive (Cox’s numbers represent Cybertruck sales pre price drop). Topping even the popular Ford F150 Lightning, Ford Mustang Mach-E, and Hyundai Ioniq. So, you’ve got to ask yourself, does that mean Tesla has another hit on its hands? And, if that’s the case, does the lower price mean even higher demand going forward? After all, Tesla has promised an even cheaper trim for $60,990, which was listed on its website until August.
“The Cybertruck is so unique and unprecedented that there is no benchmark for it and no way of knowing what its potential is,” Tom Libby, an analyst at S&P Global Mobility, told me. “If its functionality is indeed competitive, which is my impression, then it has to be taken seriously in this category, even with the unique styling — which I think will be increasingly accepted as we move forward.”
Celebrity sales
One supernatural force driving CT sales is celebrities. The Cybertruck is now the status car in Los Angeles. And it is even becoming a common sight in suburban Los Angeles, where I live. (My neighbor a few doors down now owns one.) Plus the fact that it was initially impossible to get because of the long wait times, which added to the vibe of exclusivity. Throw in the insatiable appetite for Cybertruck chatter on social media and you have a cultural phenomenon. The point is, despite its polarizing design and high price, it’s become a coveted American status symbol. Arguably the Model 3 and Model Y had similar cult followings which blossomed into mass appeal.
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