Tesla has delivered hundreds of Cybertrucks to Elon Musk's companies SpaceX and xAI amid slumping sales in 2025. The electric pickup's deliveries totaled 16,097 units in the first nine months, a 38% decline from the previous year. Despite the downturn, Tesla shares rose modestly on Wednesday.
Tesla's Cybertruck, launched in 2023 with ambitious production plans of around 375,000 units per year, has faced persistent sales challenges. Through the first nine months of 2025, the company delivered 16,097 Cybertrucks, marking a 38% drop compared to the same period in 2024, when total annual deliveries reached about 50,000. Quarterly figures reflect the decline: 6,406 in the first quarter, 4,306 in the second, and 5,385 in the third—a 63% decrease from over 14,000 in the third quarter of 2024. The slight uptick in the third quarter ties to the expiration of federal electric vehicle tax credits, which boosted overall Tesla sales but provided limited help for the Cybertruck.
To address overstocking, Tesla has delivered hundreds of unsold Cybertrucks to SpaceX and xAI, both led by CEO Elon Musk, with more expected. This internal transfer has drawn commentary, including from Tesla engineer Wes Morrill, who developed the vehicle: “Love to see the ICE support fleets from Tesla and SpaceX get replaced with Cybertruck. When we were engineering it, this was always part of the dream. Never imagined how hard the fleet photos at starbase would go. Looking forward to more of this.”
Additional hurdles include a U.S. National Highway Traffic Safety Administration investigation into door handle deactivation during crashes and the removal of the affordable entry-level variant in September 2025, just five months after its introduction. European markets have shown little interest in the large U.S. vehicle. On a brighter note, Tesla plans robotaxi expansions in Colorado and Illinois, testing the system on winter roads in areas like Denver and Chicago, supported by new job postings for Autopilot operators.
Wall Street maintains a Hold consensus on Tesla stock, with 16 Buy, 13 Hold, and 9 Sell ratings over the past three months. The average price target of $329.77 suggests 15.98% downside after a 93.94% share price rally over the year.