Sign In or Create an Account.

By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy

Electric Vehicles

The Cybertruck Is the Third-Best-Selling EV in America. It’s Also a Failure.

Making sense of two seemingly opposite Tesla stats.

•
Elon Musk and a Cybertruck.
Heatmap Illustration/Getty Images, Tesla

It’s a bad sign when they won’t tell you the exact numbers.

On Thursday, Tesla released final production figures for 2024, which saw the EV maker post a rare year-over-year decline in sales growth. It’s likely that a slow start for the Cybertruck, Tesla’s only new model in recent memory, was a big cause of the slowdown. But we can’t tell you exactly how well or poorly the big truck is doing because the company won’t tell us.

Tesla delivered 1,789,226 total vehicles to customers last year. The popular, reasonably affordable Model 3 or Model Y EVs made up more than 95% of those sales. The remainder were lumped into a group called “other models,” meaning Cybertruck and the long-in-the-tooth, expensive Model X and Model S, a move that has the same flavor as a Friday afternoon news dump. The “other models” accounted for just 85,133 deliveries, or 4.8% of Tesla’s total.

If you’ve been following Heatmap’s coverage then this comes as no surprise. Elon Musk & Co. sold just shy of 17,000 Cybertrucks during the third quarter of last year (July to September). That made the shiny metal beast the third-best-selling EV in America after Tesla’s two volume sellers. But Cybertruck was a distant third behind those two EVs. In the fourth quarter of 2024, Tesla delivered 23,640 “other models,” meaning that’s the maximum number of Cybertrucks it could have sold.

The writing for Tesla’s sales slump has been on the wall for years. A recent design refresh helped bump Model 3 sales, and the company is still working on a rumored update to the Model Y, the world’s best-selling EV, that might give Tesla a shot in the arm. But with Tesla’s future prospects resting with the Cybercab and other autonomous aspirations, the Cybertruck is the brand’s only current opportunity to boost its bottom line with a new vehicle.

Except that the stainless steel war rig was never a good candidate for high-volume sales. Cybertruck starts at $80,000. It has suffered embarrassing viral moments where the vehicle failed at basic truck tasks such as getting out of snow or sand. It comes with some cool amenities, such as the ability to back up one’s home power supply via bidirectional charging. It also serves as the avatar of everything Elon, making the car a polarizing hard pass for anyone who doesn’t want to be publicly profiled as a Musk fan.

Get the best of Heatmap in your inbox each day.

Cybertruck endured a slow start dogged by production delays and nagging, frequent recalls. Soon it became evident that demand for the vehicle wasn’t exactly red-hot. Musk at one point has claimed that a million people put their names down for a Cybertruck, but doing so cost only $100, so the length of that list doesn’t mean much. More telling was the report that Tesla was scrubbing the badging off the limited-edition Foundation series, which wasn’t selling, so it could offer the vehicles as ordinary Cybertrucks.

As The Verge notes, how you’d grade the Cybertruck depends entirely on what you believe its potential to be. As a competitor to EV pickup trucks like the Rivian R1T, Ford F-150 Lightning, and Chevy Silverado EV, the Tesla is the king — Cybertruck is outselling all those models. But electric truck sales have been sluggish all along, making the Cybertruck the big fish in a pretty small pond.

If the Cybertruck’s raison d'etre was simply to bring Musk’s Mad Max daydream to life, then it has succeeded. But if the goal of the Cybertruck was to sell lots of cars, then it’s hard to argue it has been anything but a boondoggle.

The automakers nipping at Tesla’s heels in the EV market, including GM and Hyundai/Kia, have every reason to see a path to more growth, even with the lingering uncertainty of an unfriendly new era of American government. They’re rolling out new models and posting record sales. If they can continue to bring down the starting price of their electric models, lots of their customers could be ready to ditch fossil fuel engines.

But, at least for today, Tesla’s status it tethered to the Cybertruck, which doesn’t have a lot of room to grow. Once upon a time, Tesla teased a high-end version of the vehicle that would have 500 miles of range, as well as an entry-level Cybertruck that could start in the neighborhood of $50,000. Realizing either of those goals could make many drivers — at least those not immediately turned off at the thought of owning this thing — take a long look at the Cybertruck. Neither appears imminent.

Musk’s reaction to all this might be a shrug. Rather than rounding out his stable of cars with an affordable EV with the potential to sell in huge numbers, he has bet the farm on Tesla winning the autonomous vehicle race and tossed out the Cybertruck as a treat to his hardcore devotees. Now he must hope enough of them buy it to keep Tesla’s cratering stock price afloat while he chases the future.

Yellow

You’re out of free articles.

Subscribe to access Heatmap's exclusive climate and energy polling, award-winning journalism, and subscriber-only events. Save $57 on an annual subscription, just $156 $99/year.
To continue reading
Create a free account or sign in to unlock more free articles.
or
Please enter an email address
By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy
AM Briefing

Pump and Trump

On OpenAI’s pledge, power plant emissions, and Kazakh tungsten

A gas station.
Heatmap Illustration/Getty Images

Current conditions: The polar vortex that keeps air circulating around the North Pole collapsed months ahead of schedule, threatening to send frigid temperatures southward • India’s east coast Andhra Pradesh state is facing down yet another major storm as Severe Cyclone Murasu makes landfall • The catastrophic atmospheric river over the American Southwest has dumped more than 20 trillion gallons of water across Arizona, Colorado, New Mexico, and Utah.


THE TOP FIVE

1. Gas prices hit a record high on the eve of America’s midterm elections

The average price of a gallon of gasoline during President Donald Trump’s second term topped $3.46 as of Monday, a record that exceeds the previous high set under the Biden administration. That’s according to a new analysis by the Financial Times. And that’s just the average across the past 22 months. The average price nationwide on November 2 clocked in at just under $4.17 per gallon. “If modern living boiled down to a price, it’s the price at the pump,” Bob McNally, a former energy advisor to the George W Bush administration and president of consultancy Rapidan Energy, told the newspaper. “Whether a voter is filling up that day or not, it’s likely that they see a pump price.”

Keep reading...Show less
Red
Daily Briefing

Think Congress Is Slow? Meet the Power Sector.

BAAJA would likely help speed up the U.S. transmission buildout, but there’s a chance we’re undercounting the benefits.

Power lines.
Heatmap Illustration/Getty Images

This is Heatmap Daily, a weekday digest written by our executive editor. Subscribe here.

As you may have seen, my colleague Emily Pontecorvo and I got the first look at the Rhodium Group’s analysis of what the bipartisan permitting bill will do to emissions.

Keep reading...Show less
Blue
AM Briefing

Neutral, at Worst

On Chinese hydrogen, Fermi upheaval, and British offshore wind

Smokestacks.
Heatmap Illustration/Getty Images

Current conditions: The Pineapple Express, an atmospheric river originating in the Pacific near Hawaii, is arriving in the Southwest laden with heavy rain that’s set to flood the region • Indonesia has the worst air quality in the world as forest fires rage along Sumatra’s southern coast • A cross-country storm will soak much of the United States on Tuesday’s Election Day.


THE TOP FIVE

1. Permitting bill’s worst-case climate scenario is still carbon neutral

The Senate’s grand compromise to simplify federal permitting on energy projects would likely drop emissions slightly as the benefits to accelerating deployments of clean energy infrastructure outweigh the boost the legislation could give to fossil fuels. Even under the worst-case scenario, emissions remain on the same trajectory as today. That’s according to a hotly anticipated new analysis by the Rhodium Group, the consultancy whose U.S. emissions estimates are among the most widely cited in American politics. The report, shared first with my colleague Emily Pontecorvo, found that provisions in the Bipartisan American Affordability and Jobs Act largely counteract each other on climate. The bill makes building transmission lines much easier, a key step to patching more renewables onto the grid. But it also makes new gas pipelines simpler to permit, clearing the way for a buildout of the infrastructure for the fossil fuel already dominating U.S. electricity and heating systems. Still, under the best-case scenario, the legislation could cut U.S. economy-wide emissions by 5% below where they would otherwise go in 2040. The bill could also slash energy bills by $78 per year and support construction of more than 200 gigawatts of clean energy capacity, as compared to a world where it didn’t pass. The Rhodium report is at least the second analysis yet to find that the bill could modestly lower emissions. The first, as I reported last week, came from the think tank Resources for the Future, which saw a slight drop in power-sector emissions relative to a world without BAAJA.

Keep reading...Show less
Blue