Elon Musk's dream of having a top-selling electric pickup may be fleeting as the Cybertruck continues to see declining demand.
What Happened: A new report shows Tesla Inc (NASDAQ:TSLA) falling to third place in the electric pickup sector and facing weakened demand for several vehicles across multiple regions.
New sales data from Cox Automotive, as shared by InsideEVs, shows Cybertruck trailing automotive giants Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) in Q2.
Here were the top-selling electric pickup trucks in the US for Q2:
- F-150 Lightning: 5,842 units
- GMC Hummer EV: 4,508 units
- Tesla Cybertruck: 4,306 units
Ford took the crown for the sector in the second quarter. Still, the company’s F-150 units sold down for a second straight quarter. The Cybertruck, which Tesla launched in November 2023, experienced its third consecutive quarter of declining sales. Hummer sales include both the SUV and pickup truck versions as GM does not break them out individually.
Unlike the F-150 Lightning and the Cybertruck, Hummer sales increased quarter-over-quarter, gaining from the 3,479 reported in the first quarter. GM's Silverado EV also came close to the top three with 3,056 units sold in the second quarter. That’s up from 2,383 in the first quarter.
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Why It's Important: Tesla's plans originally called for production capabilities to make 250,000 Cybertrucks annually. It appears that the company won't need to make that many per year and potentially ever based on current sales trends.
Tesla sold 38,965 Cybertrucks in 2024, which ranked fifth among all electric vehicles for the U.S. market. Ranking right behind in sixth place was the F-150 Lightning with 33,510 units sold.
An estimate from Electrek that the Cybertruck had fewer than 5,000 sales is now supported by Cox Automotive data.
In the recent second quarter, Tesla disclosed it sold 10,394 vehicles in what’s referred to as the “other” category, which includes older models, the Tesla Semi and Cybertruck. The other category hit its lowest level since the first quarter of 2023, which was before the Cybertruck was even available. That came after the other category had delivered more than 15,000 units for seven straight quarters and more than 20,000 units for three straight quarters.
The pickup category is a strong one for automakers; the traditional gas-powered F-150 is one of the U.S.’s bestselling vehicles annually.
Tesla originally planned to disrupt the electric pickup truck market. However, the company will likely lower Cybertruck production. Expect the EV giant to focus on better-selling vehicles, as well as new growth ambitions, such as robotaxis.
TSLA Price Action: Tesla stock trades at $321.65 on Thursday versus a 52-week trading range of $182.00 to $488.54. Tesla stock is down 15% year-to-date in 2025.
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