Los Angeles, CA – August 16: People view the Tesla Cybertruck prototyple on display at the Peterson … [+]
The Tesla Cybertruck was the third bestselling EV in the U.S. in the third quarter, challenging conventional wisdom. Used prices, meanwhile, are falling as more new Cybertrucks flood the market.
Despite a lavish price tag starting at about $100,000, the Tesla pickup outsold every EV in the U.S. in the third quarter except for the Model Y and Model 3, according to Cox Automotive, which owns Kelley Blue Book.
“Despite a six-figure price tag – average transaction price in September was north of $116,000, according to Kelley Blue Book estimates – more than 16,000 Cybertrucks were sold in Q3,” said Kelley Blue Book. “In fact, Cybertruck outsold every other available EV except for two – Tesla’s popular Model Y and Model 3.”
EV sales leaders in the third quarter (in units sold):
- (1) Tesla Model Y: 86,801, down 9.1% from a year ago.
- (2) Tesla Model 3: 58,423, up 9.7% from a year ago.
- (3) Tesla Cybertruck: 16,692 — no year-to-year numbers but overall EV segment share is up to 4.8% from 3.0%. Total year-to-date sold is 28,250.
- (4) Ford Mustang Mach-E: 13,392, down 9.8% from a year ago.
- (5) Honda Prologue: 12,644 — no year-to-year numbers as it’s new to the market.
Another surprise was a very strong showing for the Honda Prologue, a car built in collaboration with General Motors. Its underlying platform is also used in the Chevrolet Blazer EV and Cadillac Lyriq. “Honda and Acura contributed more than 15,000 EV sales in the quarter, thanks to two new models. A year ago, American Honda EV sales were zero,” said KBB.
Combining all nameplates, General Motors EV sales jumped nearly 60% to 32,095. “While still a distant second to market leader Tesla, GM improved its standing in the EV race thanks to strong sales from three of its four core brands – Cadillac, Chevrolet and GMC,” KKB said.
And KKB doesn’t buy into the notion that EV sales are plummeting. “With improving infrastructure, far more choices, and excellent deals to be had, the team expects further growth in the months ahead – a 10% share is well within reach,” KBB said.
Used Cybertruck price cratering
Used Cybertruck prices are finally coming down to earth. For the first time, used CT asking prices have dipped below $90,000 in a few instances, based on prices shown on KBB’s used Cybertruck sales page. But most of the lowest asking prices fall into the $90,000 to $100,000 price range. And the majority of used CTs are still priced between $100,000 and $115,000. But even that’s a big improvement compared to the May timeframe when average used asking prices were as high as $160,000, according to CarGurus price tracker.
Tesla is now selling two models on its Cybertruck website. The All-Wheel Drive model for $99,990 and the Cyberbeast for $119,990. It has also begun deliveries of a $79,990 CT for U.S. reservation holders.
