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While Tesla, Inc. (NASDAQ:TSLA) does not break down Cybertruck numbers in its quarterly deliveries report, a third-party data source on Wednesday provided insight into the uptake of the electric pickup truck from the Elon Musk-led company’s stable.
What Happened: The Cybertruck was the best-selling vehicle priced above $100,000 in June, said Cox Automotive, a provider of vehicle remarketing services and digital marketing and software for automotive dealers and consumers, in its June new vehicle prices report.
The average transaction price of the Cybertruck was $112,696 in June, the firm said, adding that more than 3,200 units were sold during the month.
Incidentally, on July 4, Cybetruck’s X handle reposted a post by a Tesla influencer, which said the vehicle was the “#1 bestselling electric pickup truck in America in Q2, outselling the Ford F-150 Lightning.” Sawyer Merritt, the Tesla influencer, based his deduction on the June 19 National Highway Traffic Safety Administration recall report that showed at least 7,810 Cybertrucks were produced between April 17 and June 19. Another 3.5 weeks of production would have added further to the number to arrive at the quarterly production numbers.
Ford Motor Co. (NYSE:F) reported that it sold 7,902 F-150 Lightning pickup trucks in the second quarter, Rivian Automotive, Inc. (NASDAQ:RIVN), which has a competing product in R1T, reported second-quarter deliveries of 13,790, which also includes the R1S electric SUV.
Cox’s data somewhat authenticates the deduction that Tesla may have surpassed others in Cybertruck sales.
See Also: How To Buy Tesla Stock
Cybertruck Pushes Up Tesla’s ATP: Tesla’s average transaction prices rose from $56,809 in April to $58,399 in June, up 2.80%. On a year-over-year basis, the company’s average transaction price (ATP) climbed 5.7%. Cox said the prices for the Model Y and Model 3 remained stable month-over-month in June and that the Cybertruck may have been the reason for the rise in Tesla’s ATP.
Industry-wide, the average price for a new EV was at $56,371, up 0.9% from May and 2.5% higher than a year ago.
Cox noted that new EV prices have been trending higher since the spring after ATP fell to $53,235 in March. Despite higher ATP, industry-wide U.S. EV sales rose 11% year-over-year in the second quarter to 330,000 units, which marked a record number.
For Tesla, higher prices could be a handicap as it strives to push up volume in a industry, which is stymied by slowing EV adoption. Tesla analysts and investors have pinned their hopes on the company launching a sub-$30K EV to help growth volume. The EV giant reported earlier this month a nearly 5% year-over-year deliveries decline.
In premarket trading, Tesla shares fell 0.56% to $261.78, according to Benzinga Pro data.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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Photo courtesy: Tesla
