I could make something totally reasonable out of Mille Bornes.
A reminder, this is a second Masters of the Universe movie, and I was, as a youth, fairly disappointed in everything in the 80s outing except Skeletor. Another movie based on actual Toys would be the My Little Pony movie of course.
Per the OP’s request, I’m leaving out insanely popular movies based on console games (which I lumped under computer games) such as Pokemon (Detective Picachu most recently), Sonic the Hedgehog, and countless others.
From the realm of collectible cards, we have the Garbage Pail Kids movies. From tabletop games (RPG in this case) we have various Dungeons and Dragons movies. And another toy based option similar to Transformers (cited in the OP) was the Gobots: Battle of the Rock Lords.
Excuse me, child of the 80s, what can I say.
Options that I think workable: Thundercats (toy line with cartoon), Silverhawks (same), Talisman (boardgame), though the easiest might be Gammarauders - because giant irradiated kaiju movies with tanks, planes and infantry have been doing well recently. Twilight Imperium would work as well (that was a post college game for me though).
Lasty, one that seems like a popular property that would totally work in the Cybertruck world would be Car Wars!
Things that I’m surprised haven’t already been done: Battletech (many flavors) and Warhammer 40k.
Honorable mention to the card game “Exploding Kittens” but it’s recently been made into a Netflix series, so a movie is probably not in the immediate future. 
In development - https://www.imdb.com/title/tt14488834/?ref_=fn_t_1
Real Steel was better than expected and I thought it was an adaptation of Rock 'em Sock 'em Robots but according to the Wikipedia article, it’s actually based on a story by Richard Matheson, who wrote I Am Legend, among many other things.
As long as you don’t spin the wheel and get triple damage off a 100 megaton nuke, you can justify a sequel.
“Mr. President, we’ve just lost 25,000,000 people!”
“Goddamn it! Why weren’t we warned of a nuclear attack?”
“It was propaganda, sir!”