Last year, something remarkable happened in the global automobile industry. For the first time in history, an electric vehicle became the best-selling car worldwide. The honor went to Tesla Inc.’s (NASDAQ:TSLA) Model Y, a mid-size SUV that entered production just four years ago.
Currently, Tesla’s latest buzz surrounds a category of vehicles increasingly favored over sedans in America: pickup trucks. In this arena, 120-year-old Ford Motor Co (NYSE:F) has reigned supreme for over four decades with its F-Series lineup, which includes workhorse models and high-end trims, notably the legendary F-150, now available in an electric version.
Given Tesla’s track record of shattering records, can the company replicate the Model Y’s success with its hulking Cybertruck and unseat Ford’s F-150 as America’s favorite pickup?
Benzinga spoke to experts, industry insiders, truck owners and prospective customers to get an idea.
Ford's Goliath vs. Tesla's David?
Brian Holiday has been a salesman at various Ford dealerships in the automaker’s home state of Michigan for nearly 15 years. Now 69, he works at Pat Milliken Ford in Detroit’s northwestern suburb of West Bloomfield and has a fair pulse on the F-150’s enduring demand.
“I mean, it's been the number one truck for 47 years in a row. It's a great truck, you know. It's a multipurpose vehicle that anybody from a young person to an old person can drive it, and enjoy it,” he said.
Xander, a 17-year-old F-150 owner from Illinois who preferred to go only by his first name, conformed to this theory. “It’s a 10-year-old truck and nothing's wrong with it. I’ve been worse to the truck than it’s been to me.” He said he chose it mainly because his “entire family drives Fords,” adding that the storage, stereo, and “pretty decent gas mileage” were especially likeable features.
On the other hand, the Cybertruck has quickly amassed a fan following despite polarizing views about its radically unconventional design and a few mishaps during its unveiling in 2019.
See Also: Best Electric Vehicle Stocks
Chris Hale (last name changed on request), a music industry professional in his forties from Los Angeles, got a foundation series Cybertruck in the last week of January. “I love driving it, it gets so much attention,” he said.
Steve Evans (last name changed on request), a 45-year-old “C-level executive” who also lives in Los Angeles and got his foundation series Cybertruck after a four-year wait, said his experience “has been fantastic.”
“I chose the Cybertruck because it is so unique in its design and feels like you are truly making a purchase of a car that takes a big step into the future. There is nothing else like it for automobile consumers today,” ...