In a surprise move, Tesla's Cybertruck has become the third best-selling electric vehicle in the US, outpacing major automakers like Ford and General Motors. Despite its high price point, the Cybertruck notched over 16,000 sales in the third quarter, according to Kelley Blue Book.

This achievement is a significant blow to traditional automakers, who have struggled to find customers for their own EVs. Ford's F-150 Lightning and Mustang Mach-E SUVs, for example, only sold around 7,000 and 13,000 units, respectively, in the same quarter. General Motors' new Blazer and Equinox EVs fared slightly better, but still only managed to sell around 32,000 units.

Tesla's success can be attributed to its relentless cost-cutting measures, which have brought the cost of goods sold per vehicle down to $35,100. The company's profit was also boosted by the sale of regulatory credits to other automakers, totaling $739 million.

The news sent Tesla's stock price soaring over 9% in after-hours trading. However, not all areas of the business are thriving. Tesla's Supercharger station growth slowed to 20% year-over-year, its slowest growth figure in years, following a massive company-wide layoff earlier this year.