Tesla delivered just 5,385 Cybertrucks in Q3 2024, a sharp 62.6% decline compared with the same period last year, according to Cox Automotive’s latest EV sales report.

This drop occurred even as the broader U.S. EV market hit a record quarter, with sales climbing nearly 30% to over 438,000 vehicles. In comparison, Ford sold nearly twice as many electric F-150 Lightning trucks, while Chevrolet’s Silverado EV and Rivian’s R1T also gained traction.

The Cybertruck’s Q3 figures reflect its early production ramp, which slightly distorts the comparison, but even after adjusting for timing, deliveries have slowed and new orders have thinned. The decline comes despite buyers rushing to claim federal EV tax credits before their expiration in late September—a boost that is now behind the industry.

Tesla continues to hold roughly 41% of the U.S. EV market, down from nearly 50% last year, with the Cybertruck emerging as the largest drag on its lead. While Tesla’s core models maintain strong sales, its ambitious ventures—from the Cybertruck to the long-awaited robotaxi—are proving more challenging to scale than to promote.