Elon Musk pushed back against reports that the Cybertruck is unprofitable, while confirming that Tesla will shut down production of the angular stainless-steel pickup in about eight months and refund deposits for many reservation holders.
In a series of posts on X, Musk said the Cybertruck order rate “far exceeds our production rate,” and that Tesla will try to build as many vehicles as possible before closing the line. However, he acknowledged the company would have to return deposits for a significant number of customers still waiting for trucks.
Musk attributed the decision not to weak profitability but to manufacturing priorities. “This is not a case of Cybertruck being unprofitable, as has been misreported by legacy media, but rather that the opportunity cost of the complexity of Cybertruck is vastly outweighed by the value of incremental Cybercab production,” he wrote.
The shutdown is expected around mid-2027, matching Musk's earlier statement that Tesla planned to stop building the Cybertruck at Gigafactory Texas in Austin around the middle of next year. The move is intended to free up space for the Cybercab, Tesla’s two-seat robotaxi, which Musk has positioned as central to the company’s autonomous future.
The Cybertruck began deliveries in late 2023 after years of delays. Sales have lagged early expectations: Tesla sold 20,237 Cybertrucks in the US last year, down 48% from 38,965 in 2024, according to data cited by Reuters. That remains far below Musk’s earlier annual sales prediction of 250,000 units.
Musk did not share detailed financial figures to prove profitability. Tesla’s third-quarter 2026 earnings grouped the Cybertruck with other models, making it difficult to independently verify margins. This is not the first refund process: in October, Tesla told customers in Australia and New Zealand that it would no longer sell the truck there and would return deposits within 30 days.
Tesla shares had dropped more than 10% in one session amid a broader post-election sell-off after Democrats gained control of Congress, before partially recovering. Tesla and SpaceX were both higher in premarket trading on Monday.
