Is the Tesla Cybertruck a disappointment?
Two chief analysts agree that Cybertruck's styling, elevated price, and relatively modest range have held back sales of the polarizing truck.
A report from Automotive News says analysts agree that Tesla's Cybertruck has fallen far below Elon Musk's initial sales goals, and Tesla needs to offer incentives and discounts to sell the electric truck.
Karl Brauer, executive analyst at iSeeCars, thinks the Cybertruck has failed to meet expectations. However, he is measuring it against the Ford F-150, which Elon Musk said the CT would challenge.
Brauer says, "I think the Cybertruck can be officially considered a flop now. Remember, this was going to be Tesla's F-150. The new benchmark, the foundational vehicle for the Tesla brand, will keep it super powerful, super profitable, and high volume."
The report from AN says, "Tesla is offering Cybertruck discounts just 14 months after launching the wildly styled pickup that CEO Elon Musk predicted would compete with gasoline counterparts from Ford and Chevrolet, selling in the hundreds of thousands per year."
Did Elon Musk shoot himself in the foot?
Musk challenged the Ford F-150 and Chevrolet Silverado full-size pickups that top light-vehicle sales charts yearly. At Tesla's annual shareholder meeting in May 2023, Musk said he expected sales between 250,000 and 500,000 Cybertrucks per year out of its Austin, Texas, factory.
According to industry estimates and U.S. registration data, Musk's claims for the polarizing electric Cybertruck fell far short in its first full year of production.
According to a January 13 estimate from Cox Automotive, Tesla sold about 39,000 Cybertrucks in the U.S. in 2024. S&P Global Mobility said there were 35,236 Cybertruck registrations from November 2023 to November 2024, the most recent data available.
The Cybertruck should be measured against other electric trucks.
The Cybertruck is not selling like the Ford F-150, Chevrolet Silverado, or RAM trucks. However, it is a success when measured against its electric truck rivals.
For instance, Cox Automotive estimated 2024 electric Ford F-150 Lightning sales at 33,510 vehicles, which was good for second place among EV pickups after the Cybertruck. Rivian's R1T electric pickup was third with sales of 11,085 last year, Cox said. This comparison can help put the Cybertruck's sales figures into perspective.
Demand for all electric vehicles has significantly dropped, reflecting the current struggle in the industry.
It's not just the Cybertruck; a Bloomberg report says, "Over the past couple of years, the EV transition has wobbled. Governments have scaled back financial incentives for EV buyers, sales growth has tapped the brakes, and the auto industry is having second thoughts about some of the investment plans that were predicated on a more rapid shift to electric."
Cybertruck discounts are now being offered by Tesla.
AN says Elon Musk's initial Cybertruck predictions that its production would be sold out for years, making factory incentives unnecessary, is in stark contrast to the current Cybertruck discounts offered by Tesla.
The report says Cybertruck discounts run from $1,600 for new 2024 models to $2,630 for demo vehicles, Tesla said on its website on January 15. When ordered at full price, the Cybertruck starts at $81,985 with shipping. The pickup is also eligible for a $1,000 price reduction using a referral code from a Tesla owner.
Robby DeGraff, manager of product insights at AutoPacific, thinks the initial Cybertruck sales hype is over.
"I think the initial fanfare, excitement, and hype for the Cybertruck has quickly evaporated. I've seen way more F-150 Lightning and R1T owners actually using their trucks for work or play rather than showboating around town with tacky aftermarket wraps," DeGraff said.
What are Cybertruck owners saying?
While Some experts believe the initial hype for the Cybertruck has waned, others argue that it still holds promise. For instance, a report from Newsweek says that despite the challenges, many Cybertruck owners remain fiercely loyal and enthusiastic about their vehicles.
In a survey reported by Torque News, more than 75 Cybertruck owners said they had "no regrets" about buying the vehicle. Some even expressed a desire to purchase a second Cybertruck.
Dr. Jay Larson, podiatrist and Cybertruck owner who posts about his experiences under MyCybertruckLife on X, told Newsweek, "Because I was able to own one of the first trucks in Arizona, I was able to meet a lot of people in the car scene in AZ."
"My truck was front and center in several car shows... I've had multiple companies reach out, wanting me to test their products as well. It has been really fun! I've met a lot of other Cybertruck owners as well. Every single one of them that I have met feel the exact same way that I do—they love their truck."
What's next for Cybertruck?
The price is dropping. Tesla launched the $79,990 Cybertruck version in October 2024, plus a $1,995 shipping charge. Tesla is expected to sell a base Cybertruck at $62,985, including shipping, later this year.
AN says the base trim level qualifies for the $7,500 federal EV credit as long as it stays under the $80,000 price cap. The report says that Tesla no longer plans to offer the $40,000 trim.
Can the Cybertruck catch the Ford F-150 and Chevrolet Silverado?
Analysts say no. Brauer and DeGraff believe the stainless-steel pickup has been held back by its controversial and comical styling, luxury model pricing, and 320-325 mile range.
Harsh words from the analysts.
"The initial sales targets for the Cybertruck preached by Musk years ago are nothing short of comical," DeGraff said. "It's just a dumb product, top to bottom. Look at the Tesla Model 3 — it's really, really good. I wish Tesla could have mirrored that excellent execution elsewhere rather than wasting time on the Cybertruck."
What do you think?
Do you own a Cybertruck? What is your experience with the electric pickup? Click the red Add New Comment link below and let us know.
Check out my Cybertruck report of an owner's experience on a 1,600-mile road trip titled; Tesla Cybertruck Owner Says, “I Took a Road Trip From NC to Toronto, Stopping Every 2 Hours To Charge For 20 Minutes Became Tedious”
I am Denis Flierl, a Senior Torque News Reporter since 2012. My 30+ year tenure in the automotive industry, initially in a consulting role with every major car brand and later as a freelance journalist test-driving new vehicles, has equipped me with a wealth of knowledge. I specialize in reporting the latest automotive news and providing expert analysis on Subaru, which you'll find here, ensuring that you, as a reader, are always well-informed and up-to-date. Follow me on my X SubaruReport, All Subaru, WRXSTI, @DenisFlierl, Facebook, and Instagram.
Photo credit: Denis Flierl via Automotive News
Comments
SUDDENLY . . . it's time to…
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SUDDENLY . . . it's time to start trusting "chief analysts". ALSO . . . "our studies show" and "our experts agree" and "our science proves" and "our sources confirm" that we are not Elon Musk haters.
I wish I had a cyber truck.
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I wish I had a cyber truck.
A bit ironic that the two…
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A bit ironic that the two things Musk had the most involvement in at Tesla are its two biggest failures: the gullible wing doors on the Model X, and the entire Cybertruck. He's a genius for sure. /s
Yeah, Martin Eberhard and…
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In reply to A bit ironic that the two… by Bobm (not verified)
Yeah, Martin Eberhard and Marc Tarpenning are the brains behind Tesla tech, as I would strongly guess you already know. Musk is good at taking credit for others' work, like he did Monday when his player was advancing through Leve 62 while he was at the inauguration. He doesn't care, all his unthinking followers think he is a gaming god so he doesn't care. But if there is a God you can bet He cares and will take appropriate action.
If you need proof from Tesla…
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If you need proof from Tesla that Cybertruck is a flop, look at the company's delivery reports. Cybertruck has never been mentioned in one since it first went on sale in late 2023. It is lumped in with Tesla's other three flops, X, S, and Semi. They are referred to as "Other." Imagine a company "Othering" its own models.
Agree. The truck is a joke.
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Agree. The truck is a joke.
I am not a fan of the CT…
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I am not a fan of the CT design, but the tech that has been introduced is far superior to any truck on sale today. The writer of this article calls it a flop, yet the CT is out selling all the other EV trucks. If it is a flop, then all EV trucks are as well.
It's a sales flop when…
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In reply to I am not a fan of the CT… by Paul Sandgren (not verified)
It's a sales flop when judged by Musk's own expectations. It will never sell 250,000 - 500,000 units a year, won't even come close to that.
Reminds me of the Hummer. …
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Reminds me of the Hummer. It's a vanity vehicle, and although there will always be a small market for it, and now of course it represents a political statement, it will never be mainstream.