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The Tesla Cybertruck crushed its competition in July 2024, becoming the top-selling vehicle in the U.S. market for those priced over $100,000, according to a new report from Kelley Blue Book (KBB).
Tesla Cybertruck Crushes $100K+ Competition
The most popular car in the US priced above $100,000 in July 2024 was the Tesla Cybertruck, according to a recent press release from KBB. Considering how divisive the all-electric pickup truck is, this is very remarkable.
According to a news release from KBB (via Teslarati), the average transaction price (ATP) in the US auto sector went up last month due to the sale of pricey full-size pickup trucks.
High-End Pickup Trucks Boost US Sales
Sales of full-size pickup trucks accounted for fourteen percent of all vehicles sold in the United States last month. With ATPs of over $67,000 for the Ford F-Series and over $60,000 for the Chevrolet Silverado, respectively, these two vehicles dominated the US market in July 2024.
According to KBB, in July 2024, two electric pickup trucks—the GMC Hummer EV with an ATP of $111,242 and the Tesla Cybertruck with an ATP of $111,242—transacted for more than $100,000. When it came to vehicles valued at more than $100,000, KBB crowned the Cybertruck the undisputed champion.
Customers seem to be evenly split between the Cybertruck AWD and Cyberbeast, judging by the average July transaction price of the Cybertruck. This is encouraging news for electric pickup truck fans, as it may indicate that sales of both versions will remain high even after the Foundation Series edition is no longer produced.
Cybertruck Propels Tesla to Record ATPs
In July 2024, KBB predicted that Tesla's average selling prices would be higher due to the Cybertruck's high ATP.
According to KBB's press release:
“In July, Tesla ATPs were $59,593, up 11% from one year ago and at the highest point since February 2023. Success of the popular new Cybertruck is likely pulling Tesla prices higher, although the volume products, the Model 3 and Model Y, have seen prices rise consistently through the year. In July, the ATP for the Model Y was $52,055, up 5% from January, while the Model 3 was $53,878, up a remarkable 30% from January when Model 3 ATPs were $41,531. The Model Y and the Model 3 are the top-selling EVs in the US market.”
