Tesla Cybertruck Is Still Chasing the Ford F-150 Lightning
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Even with surface rust issues, immediately defective steering, and a stuck accelerator pedal recall, the Tesla Cybertruck continues to be a popular choice for Tesla fanatics and EV enthusiasts alike. Beyond anecdotal increases in Cybertruck sightings, data from S&P Global Mobility shows that domestic Cybertruck registrations were up in March by a significant amount.
So much so that Tesla's long-promised Cybertruck actually outperformed its main startup competitors, the Rivian R1T. With 1158 Cybertruck registrations and 548 R1Ts registrations, This is still the early days for the Cybertruck, and we're only talking month-to-month sales, but Tesla has walked its fellow American-made, startup-branded EV truck. Notably, Rivian's R1T is struggling to gain sales traction this year, with a 65 percent drop in registrations year-over-year and a net loss in the first quarter of the year totaling to $1446 million.
The rapid rise of Tesla Cybertruck registrations is significant, but Ford's flagship EV, the F-150 Lightning, continues to lead the way. A total of 2893 new F-150 Lightnings were registered in March, marking a tripled registration rate year-over-year for the electric pickup. Even as Ford admits to a pre-tax loss of $1.3 billion in the EV segment through the first quarter of the year, the F-150 Lightning remains its second best-selling EV, with 7743 trucks delivered in the first quarter of 2024. That's up 80 percent year-over-year.
Figures for the first quarter of the year show a more complete story of market domination, too. U.S. registration figures show a total of 8589 F-150 registrations, in stark contrast to the 1791 Cybertruck registrations and 1786 R1T registrations. Ford's overall F-150 Lightning registration count is up 51 percent year-over-year while Rivian's plummets 56 percent in the same period.
Within this niche segment of EV pickup trucks, General Motors' offerings are present, though just barely by the metrics of Ford and Tesla. The Chevrolet Silverado EV and GMC Hummer EV pickup accounted for a combined 511 registrations in March, with the Chevy garnering 319 registrations and the GMC making up 192 of those registrations.
Tesla officially started delivering Cybertrucks in November 2023, further contextualizing the strong surge in registration figures. The infamous California-based EV brand doesn't break out specific sales figures for its models, meaning registration figures are often the best way to analyze model-specific performance. As such, it's clear that Tesla is gunning for Ford's top spot in the EV pickup market, likely aiming to continue its years-long reign as the best-selling EV brand in the U.S.
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