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Tesla Announces “All Cyebertruck Production For the Rest of 2024 is Already Sold Out” to People Who Put Down $2,500 Non-Refundable Deposits

During Tesla’s latest earnings call, the EV maker revealed all Cybertruck production for the rest of 2024 is already sold out. Unlike the fully refundable $100 deposit, 2024 production is reserved by people who put down $2,500 non-refundable deposits.
Tesla Cybertruck

Before Tesla delivered the first Cybertruck to customers or even before the EV maker announced the final specs of the all-electric truck, the Cybertruck had already amassed over 2 million reservations.

If we go simply by the reservation numbers, Tesla’s Cybertruck production for the next decade is already sold out. This is based on Tesla’s guidance to sell 250,000 Cybertrucks a year at peak.

Depending on whether you are a Tesla investor or a prospective Cybertruck buyer, this is either really good news or a highly frustrating reality.

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However, luckily or unluckily, the 2 million reservation number is based on a $100 fully refundable reservation fee, and all these people made their reservations before Tesla announced the final specs of the Cybertruck.

When Tesla finally revealed the final pricing and specs of the Cybertruck on November 30, a lot of people online reported that they would be canceling their reservations.

The truck was supposed to have a 500-mile range for the top-of-the-line version and a $39,900 starting price for the base model. However, what Tesla delivered is a truck with only a 340-mile range for the top-of-the-line version and a $62,000 starting price for the base version, which will not start production until 2025.

Currently, Tesla is only producing Foundation Series Cybertrucks that cost $120,000 for the Cyberbeast version and $100,000 for the Cybertruck AWD.

Given the lower-than-expected range and higher-than-expected price, this was expected to lead to most people canceling their reservations. This was good news for many people who did not put down their Cybertruck reservations early on.

However, during Tesla’s latest earnings call yesterday, the EV maker revealed that Cybertruck production for all of 2024 is almost sold out.

Unlike the previous reservations, this time, people are putting down $2,500 nonrefundable deposits to order their exact Cybertruck configuration.

This means anyone who hasn’t been invited by Tesla to configure his/her Cybertruck is fresh out of luck and can expect to get his/her truck no earlier than 2025.

This is certainly disappointing for anyone who can’t wait to get his/her hand on the Cybertruck; however, it’s also welcome news for Tesla investors who might be worried that Cybertruck order conversion might be lower than expected.

This is the latest information regarding the Cybertruck production ramp; however, we’ll be sure to keep you posted when we learn more about Tesla’s plans. Until then, make sure to visit our site, torquenews.com/Tesla, regularly for the latest updates.

So what do you think? Are you surprised that Tesla has already sold out the 2024 Cybertruck production? Should the EV maker raise Cybertruck prices to curb demand? Let us know your thoughts in the comments below.

Image: Courtesy of Joe Tegtmeyer on X

For more information,  check out: First Person to Camp Overnight Inside a Tesla Cybertruck Reveals Why the Cybertruck is the Worst Tesla to Sleep In

Tinsae Aregay has been following Tesla and The evolution of the EV space on a daily basis for several years. He covers everything about Tesla, from the cars to Elon Musk, the energy business, and autonomy. Follow Tinsae on Twitter at @TinsaeAregay for daily Tesla news.

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