The Cybertruck was the best-selling $100,000+ vehicle in July
Once again, the Tesla $TSLA Cybertruck is the best-selling vehicle that costs over $100,000. Hurray. It’s a pretty impressive fete when you consider how deeply divisive the truck is. It was part of a wider trend in July of high-priced pickup trucks moving the average transaction price needle across the country.
Full-size pickups accounted for 14 percent of the U.S.’s total sales in July, led – of course – by the Ford $F F-Series ($67,000 ATP) and Chevy Silverado ($60,000 ATP), according to Kelley Blue Book. Two trucks – the aforementioned Cybertruck ($111,018) and the GMC Hummer EV ($111,242 ATP) transacted well over $100,000 per vehicle. It also named the Cybertruck the “best-selling vehicle in the US priced over $100,000.” However, KBB didn’t say how many vehicles it sold, and Tesla is rather tricky when it comes to sales, so we’ll just have to take their word for it.
The Cybertruck’s average transaction price is actually down a little bit compared to June when it also led in $100,000+ vehicle sales. Back then, the ATP was $112,696. This news also comes at a time when Tesla has killed off the cheaper rear-wheel-drive $60,990 Cybertruck. Now, the automaker will rock with just the $99,990 All-Wheel Drive model and the $119,990 Cyberbeast.
These high Cybertruck sales prices seem to have contributed to Tesla’s (TSLA) ATP ticking up in July to $59,593. That’s an 11 percent increase from a year ago and its highest point since February of 2023, according to KBB. That being said, the Cybertruck isn’t the only model to blame for this. The Model 3 and Model Y have both seen price increases consistently throughout the year. In July, the Model Y’s ATP was $52,055 – a five percent increase from January. That’s small potatoes compared to the Model 3 at $53,878. That’s an astonishing 30 percent increase from January when the Model 3 had a $41,531 ATP. It should be noted that these prices are still lower than the average transaction price of $56,520 for EVs in July.
Overall, KBB says the ATP of all new vehicles in July was $48,401 – down 0.2 percent from a year ago, and it marks the tent straight month transaction prices have been lower year over year. You can thank new-vehicle incentives reaching about seven percent for that.
So, congrats to the Cybertruck for continuing to be a symbol of conspicuous consumption and the uber-rich. We’ll see you back here next month when the CT takes the crown in August.
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