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Musk says many buyers will get their deposits back as Tesla prepares to end Cybertruck's production
Fortune • • business
Key Points:
- Tesla CEO Elon Musk announced that Cybertruck production will wind down by mid-2025 due to the high complexity and opportunity cost compared to the upcoming Cybercab, despite strong demand exceeding production capacity.
- Many buyers will likely have their deposits returned as Tesla tries to maximize output before shutting down the line in about eight months, though the Cybertruck remains profitable.
- Cybertruck sales have significantly declined since its 2023 release, dropping 48% between 2024 and 2025, while Tesla’s Model Y and Model 3 continue to dominate sales.
- The decision has sparked criticism from Tesla fans who feel the company is neglecting existing customers and reducing vehicle options, as Musk shifts focus toward autonomous vehicles and concepts like the Cybercab for individualized mass transit.
- Musk envisions a future where autonomous ride-sharing lowers costs and increases vehicle usage, but many users on social media remain skeptical about abandoning personal car ownership for such services.
