Cybertruck Sales Propped Up by Elon Musk's Companies

Sales of Tesla's Cybertruck have been significantly supported by Elon Musk's other ventures, an unusual strategy indicating a lack of broad consumer appeal. In the fourth quarter of 2025, SpaceX purchased 1,279 Cybertrucks, representing over 18% of the 7,071 registrations in the US. Musk's other companies, including xAI and Boring Co., acquired an additional 60 vehicles.

This reliance on internal sales means almost one in every five Cybertrucks registered during that period were transferred within Musk's own business empire. These purchases, potentially exceeding $100 million, continued into early 2026. Without these transactions, Cybertruck registrations would have fallen by 51% in Q4 2025, underscoring faltering consumer demand.

Tesla faces mounting pressure to reverse declining sales across its lineup, having been surpassed by BYD Co. as the world's top EV seller in 2025. Investors' patience is thinning as Musk pivots focus to futuristic projects like robotaxis, which are still years from market realization. Tesla's stock has dropped a fifth since its December 2025 peak.

The Cybertruck, launched with high expectations in late 2023, aimed to capture the lucrative US pickup market. Musk had predicted annual production of 250,000 by 2025. However, its divisive design, higher-than-expected price exceeding $100,000, and occasional ridicule have hampered sales.

While Tesla has not indicated plans to discontinue the Cybertruck, it is phasing out older models like the Model X and S. Musk has suggested boosting fleet sales to commercial customers, envisioning autonomous Cybertrucks for local cargo delivery. This strategy addresses concerns about the pickup's uncertain future.