In the End, Only 2.5% of Cybertruck Reservation Holders Decided to Buy the Truck as Tesla Officially Finishes the Cybertruck Reservation List

Last week, based on multiple posts on various online forums, we reported that, in just nine days, Tesla was close to exhausting the entire 1 million Cybertruck reservation list.

This follows after Tesla started selling the non-Foundation Series, cheaper, $79,990 Cybertruck for the first time on October 4th. However, until today, you couldn’t simply go to Tesla’s website and order the vehicle.

People with first-day November 2019 Cybertruck reservations were given the first chance to take delivery of the truck, and invitations would be sent chronologically after that.

However, by October 13, we started to see several people who had ordered their Cybertrucks as late as July 2024 getting an invite from Tesla to take delivery of their truck.

After analyzing multiple individuals who shared irrefutable evidence, including communication they received from Tesla, we concluded that Tesla was struggling to convert Cybertruck reservations into sales and was close to running out of the Cybertruck reservation list.

Naturally, a number of Tesla fans were unhappy with our reporting. However, fast-forward a few days, and we have been vindicated as Tesla officially ended the Cybertruck reservation program proving that there are no more reservation holders left to sell a Cybertruck to.

With this move, Tesla has also ended the Foundation Series Cybertruck program, which costs $20,000 extra to advance in line in the Cybertruck order queue and receive around $15,000 of optional extras.

Now that Tesla has unquestionably exhausted the reservation list, the question is: What percentage of Cybertruck reservation holders, who were reported to be two to three million, finally purchased the vehicle?

Based on quarterly US EV sales data, we know that Tesla has delivered close to 25,000 Cybertrucks so far.

If we assume that of the 2 to 3 million reservation holders, 1 million were in the US, then only 2.5% of the Cybertruck reservation holders purchased the vehicle.

This might be one of history's biggest mismatches between reservation and product sales.

That said, even the 2.5% number might be too generous. We know that some of the 25,000 Cybertruck owners in the US are brand-new buyers who purchased the Foundation Series Cybertruck without any reservations.

This will further reduce the Cybertruck reservation list conversion rate to 2%. What’s surprising is that before Tesla started delivering the Cybertruck, Elon Musk was suggesting that the vehicle was sold out until 2027.

However, less than a year after starting deliveries and even before Tesla fully ramped up Cybertruck production, the reservation list is officially exhausted.

At this point, it’s important to ask who is to blame for this abysmal outcome… and unsurprisingly, the answer is that Tesla is to blame.

Back in 2019, when Tesla racked up the Cybertruck reservations, the EV maker promised the Cybertruck would start at $39,900, have 500 miles of range, and will have an exoskeleton body.

However, after Tesla massively jacked up the Cybertruck price, lowered the range, and reneged on the exoskeleton promises, it’s not at all surprising that many of the individuals who had reservations decided to no longer buy the vehicle.

What can Tesla do to increase Cybertruck demand?

The answer is simple: lower the price and increase the range. Of course, this is easier said than done. Tesla will need to do massive organizational work to achieve these rather straightforward goals.

For example, advancements in Tesla’s in-house 4680 cell will greatly help to achieve these goals.

Although the 4680 cells are in volume production, Tesla has yet to implement some of the most important breakthroughs, including the dry cathode manufacturing process, the silicon anode, the pure nickel cathode, the tabless design, etc.

All these changes will directly increase the Cybertruck’s range and decrease its price. In addition, Tesla needs to follow the usual cost-cutting practices and refinement for the Cybertruck that the company does for any other vehicle.

Overall, it’s surprising that Tesla has run out of the one million-plus Cybertruck reservation list even before the company is done ramping up production.

Personally, I think this is scary for Tesla’s prospects going forward. However, do let me know what you think in the comments. Share your ideas by clicking the red “Add new comment” button below. Also, visit our site, torquenews.com/Tesla, regularly for the latest updates.

Image: Courtesy of Tesla, inc.

For more information, check out: Tesla Hints Something Big Will Be Happening in 2 Days, the Only Clue “7, 17”

Tinsae Aregay has been following Tesla and the evolution of the EV space daily for several years. He covers everything about Tesla, from the cars to Elon Musk, the energy business, and autonomy. Follow Tinsae on Twitter at @TinsaeAregay for daily Tesla news.