In the third quarter, tesla (TSLA.O) sold 16,692 Cybertrucks in the usa, accounting for nearly 50% of the electric truck market. Despite an average trading price of over $115,000 per vehicle, this performance is still remarkable.

Since the prototype was released in 2019, the tesla Cybertruck has been controversial. Its unique shape, high production difficulty, and expensive price have made it a best-selling model nonetheless.

Competing with the Cybertruck are Chevrolet Silverado, gmc's Hummer and Denali, Rivian (RIVN.O) R1T, and Ford F-150 Lightning. According to Kelley Blue Book, in September the Cybertruck had an average transaction price of up to $116,706, despite selling 'over 5,000 Cybertrucks' in September.

Sales of such high-priced models are not common. According to Free Capital Markets analyst Mike Ward, only about 3% to 4% of new cars have a selling price exceeding $100,000. This positions the Cybertruck to hold about 10% market share in the high-priced new car market. By the end of September, tesla's market share in new car sales in the usa was about 4%.

The start of the Cybertruck is impressive, but this does not mean the final judgment on Elon Musk's pioneering pickup truck has been made. Currently, Cybertruck sales are undoubtedly substantial, but it faces some important challenges. Additionally, tesla still needs to introduce different models to significantly increase sales growth.

The next challenge for the Cybertruck is to sell more low-priced models. The three-motor 'Cyberbeast' has a starting price of around $95,000 (options will increase the average transaction price). The all-wheel-drive version starts at around $75,000, while the rear-wheel-drive version is expected to have a starting price of $60,000, which has not been released yet (tesla prioritizing production of more expensive, higher-profit versions is reasonable).

Tesla aims to manufacture 250,000 Cybertrucks annually. Achieving this goal requires all models to reach sales figures.

As for more vehicle models, tesla plans to launch its low-priced electric car in 2025, commonly known as Model 2. This will allow tesla to enter a broader autos market. Cars and small SUVs priced below $40,000 account for about half of the new car market.

Investors hope that Model 2 can boost stagnant sales growth. In the first three quarters of 2024, tesla delivered approximately 1.2 million cars, a year-on-year decrease of about 2%. Wall Street expects deliveries to be around 1.8 million in 2024, basically flat compared to 2023.

Looking ahead, Wall Street expects deliveries of around 2 million vehicles in 2025. This figure may include more Cybertrucks and some Model 2 electric cars.