Tesla Inc. TSLA researcher Troy Teslike expects the EV giant to sell just 21,000 Cybertrucks in 2025, lower than the sales of the stainless steel truck in 2024.
What Happened: “Wall Street analysts estimate 65,000 Cybertruck sales in 2025, but I expect 21,000 units,” Teslike said in a post on social media platform X, formerly Twitter.
Teslike, who tracks the EV giant’s delivery numbers, pegs Cybertruck deliveries for 2024 at 34,426 units. This, however, includes customers who had pre-ordered the vehicle and had been awaiting it since the vehicle was unveiled in November 2019, Teslike noted.
“The order backlog is gone. Tesla ended 2024 with 10,600 unsold Cybertrucks because of too much production and low demand,” the researcher said while also dismissing the possibility of a cheaper Cybertruck variant launch this year.
“A cheaper Cybertruck this year is unlikely because the Cybertruck is not profitable. A cheaper version would make things worse,” he said.
Why It Matters: Tesla started delivering the Cybertruck in the U.S. four years after unveiling it in November 2023. The company sold only its limited edition foundation series initially, priced nearly $20,000 more than the non-foundation series of the truck. The non-foundation series Cybertucks started to be sold only in the fourth quarter of 2024.
The non-foundation series Cybertruck is presently available in two variants. The lower-priced all-wheel drive variant starts at $79,990 and the higher-priced Cyberbeast variant at $99,990.
However, during its unveiling in November 2019, Tesla said it would have three variants of the truck with the entry-level single-motor, rear-wheel-drive (RWD) version starting at $39,900, the dual motor all-wheel drive variant projected to begin at $49,900 and the top tier tri-motor all-wheel drive at $69,900. The price point, higher than what was projected at the time of unveiling, is seemingly deterring potential customers and reservation holders from buying the vehicle.
However, Tesla is now selling the Cybertruck in Canada and Mexico in addition to the U.S. On Monday, the company also announced that the all-wheel drive variant of the vehicle is now eligible for a federal EV tax credit of $7,500 in the U.S., taking the effective price for eligible customers down to $72,490.
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