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Tesla's Trio Triumph: Model Y, 3, and Cybertruck Dominate U.S. EV Sales in Q3

AInvestThursday, Oct 17, 2024 4:00 am ET
1min read

Recent reports reveal that Tesla dominated the U.S. Q3 electric vehicle sales chart, capturing the top three spots with its models. Tesla delivered 166,923 electric vehicles in the U.S. during the third quarter, marking a 6.6% year-over-year increase. The Model Y led with 86,801 deliveries, followed by the Model 3 with 58,423, and the all-electric Cybertruck with 16,692 units, making it the third bestseller.

Despite a decline in deliveries for some of its models compared to the previous year, Tesla’s overall market performance remains strong. The Model Y saw a 9.1% decrease compared to the 95,539 units sold in the same quarter last year, while Model X and Model S deliveries fell by 29% and 46.7%, respectively. However, the Model 3 posted a 9.7% growth, and the Cybertruck, launched late last year, made significant market inroads.

This dominance underscores Tesla's continued leadership in the U.S. EV market, holding an impressive market share. Even with the Model Y’s decline, it remains the best-selling EV in the U.S., with the Model 3 and Cybertruck securing the second and third spots respectively, consolidating Tesla’s top-tier status in the segment.

The strong performance of the Cybertruck, which debuted its inaugural deliveries in late 2023, surpassed the combined sales of competitors like Ford’s F-150 Lightning, Rivian’s R1T, and Chevrolet’s Silverado EV, reflecting its growing popularity and the company’s strategic market positioning.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.