More than a year after Tesla’s TSLA flashy Cybertruck hit the market, the numbers aren’t exactly backing up the hype. Elon Musk once claimed that the company had racked up “over 1 million” reservations. But according to recent recall data, only 46,096 Cybertrucks have actually been sold since customer deliveries began in late 2023.
That's a big gap from the 250,000 units per year Musk said the company would sell. As Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, put it on X: "Tesla has sold only 47k Cybertrucks total according to the recall notice. This is really bad for a product that was supposed to sell 250k units a year."
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Sluggish Sales, High Expectations
Before deliveries began, Musk tried to lower expectations during a 2023 earnings call, saying the Cybertruck would take "a year to 18 months" to become a positive cash flow contributor. Still, he added, "The demand is off the charts."
But many of those $100 reservations didn't result in actual sales. Industry expert Stephanie Valdez Streaty, director of industry insights for Cox Automotive, told Wired that carmakers typically see a reservation-to-sale conversion rate of 2% to 16%. For Tesla, the rate appears to be under 5%.
Quality Issues and a Bumpy Launch
From the start, the Cybertruck faced issues. It was hit with multiple recalls—eight in just over a year—including problems with windshield wipers, stuck accelerator pedals, and most recently, trim panels that can fall off while driving. Tesla service centers are replacing the affected parts at no cost, but the constant fixes have hurt the vehicle's reputation.
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There were also viral videos of the Cybertruck getting stuck in snow and sand. Musk's political involvement, including his work in President Donald Trump's administration, has fueled public backlash and protests at Tesla stores.
Even when sales appeared strong in mid-2024, analysts noted that the numbers may have come from Tesla fulfilling a backlog of old orders—not new demand.
Prices Jumped, Demand Dropped
When first unveiled in 2019, the Cybertruck was promised to start at $39,900. But the base model ended up costing $60,990, and early Foundation Series versions went for nearly $100,000. That steep price increase turned off many early fans.
“With the events of the last couple of years, and especially the last couple of months, I would never now consider buying a Tesla vehicle,” one former reservation holder told Wired.
Used Cybertrucks are piling up on dealer lots, with prices trending down. Tesla has even reportedly buffed off the Foundation Series badging to quietly resell unsold trucks as regular models.
A Missed Opportunity
Some analysts argue that Tesla missed the mark. Instead of building on the success of the Model Y with a more affordable electric vehicle, the company launched a niche, high-priced lifestyle vehicle that hasn't gained mass-market traction.
"Tesla has had a big volume hit, the Model Y is in the top five selling vehicles in the U.S.," Kevin Roberts, director of economic and market intelligence at CarGurus, told The Verge. "The Cybertruck just hasn't been that."
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