SpaceX has confirmed its purchase of over 1,000 Tesla Cybertrucks—potentially expanding to 2,000—to help clear Tesla's unsold inventory amid continued weak demand for the electric pickup. New details, including video evidence and SpaceX's strong finances, highlight the internal support as Tesla grapples with sales declines and external pressures.
Following Electrek's initial December 18 report on SpaceX acquiring over 1,000 Cybertrucks (worth $80-115 million at $80,000-$115,000 per unit), recent developments underscore the deal's scope. Videos on X show hundreds of the vehicles parked at SpaceX's South Texas facilities, aligning with Tesla's prior confirmation of their use there.
The Cybertruck, launched in November 2023 after a 2019 unveiling, has underperformed despite over 1 million reservations. Production at Gigafactory Texas targeted 250,000 units annually, but sales have fallen below 20,000 yearly—less than 10% of capacity. This has left Tesla with excess inventory.
For cash-rich SpaceX, which generated $11.8 billion in 2024 revenue primarily from Starlink, the purchase is negligible. However, the transaction between Musk-led companies has drawn scrutiny amid Tesla's headwinds: U.S. sales hit a four-year low in November (per Reuters), despite a cheaper Model Y launch, with some attributing declines to Musk's political ties alienating buyers.