It has been almost five years since Tesla first showed off the Cybertruck. Since then, the wait time to purchase a Cybertruck has been agonizing. In the four years it took between when Tesla first unveiled the Cybertruck and started deliveries, reservations for the all-electric truck have ballooned to over a million people.
Technically, the Cybertruck is sold out for years to come. The current Cybertruck production rate is hovering around an annualized run rate of 75,000 trucks. Tesla says this number will rise to 130,000 Cybertrucks per year by the end of 2024.
With a million people having reserved a Cybertruck and at a production rate of 130,000 Cybertrucks per year, the all-electric truck appears to be sold out for at least the next seven years.
This mismatch between reservation numbers and production capacity is exactly why, currently, a person can only convert his/her Cybertruck reservation into a binding order if he/she receives an email from Tesla directing them to a private web page where they can do so.
In the first few months of Cybertruck deliveries, getting an email from Tesla inviting you to configure a Cybertruck felt like a gift. However, fast-forward a few months, and it appears Tesla is running out of people to sell a Cybertruck to.
Lupe Marquez shared on Facebook that he reserved a Cybertruck only two months ago, which means this June. However, he says he has already received an email from Tesla inviting him to configure his Foundation Series Cybertruck.
Lupe writes, “Is Tesla desperate for buyers? I barely submitted the reservation order two months ago and have already gotten the invite.” Below, Lupe shares the email he received from Tesla titled “Your Foundation Series Cybertruck is ready for delivery.”
This is surprising since, for the first few months of Cybertruck deliveries, Tesla was exclusively working on delivering Cybertrucks to first-day reservation holders.
Fast-forward a couple of months, Tesla has already run through the first two years of Cybertruck reservation holders, and people who reserved a Cybertruck at the end of 2021 are getting the invite.
Last week, we started to see people who had reserved a Cybertruck by the end of 2023 getting an email from Tesla. Now, Tesla has worked through almost the entire Cybertruck reservation backlog, and people who reserved a Cybertruck this June are starting to get the invite.
At this point, you might be wondering: if there are a million Cybertruck reservation holders, why are people who reserved their Cybertruck only a couple of months ago getting the invite?
The only explanation here is that Tesla is having trouble converting Cybertruck reservation holders into buyers. In our opinion, the biggest reason for the less-than-expected sales is the issue of cost and range.
When Tesla first unveiled the Cybertruck, the EV maker said the vehicle would start at $39,000 and have a 500-mile range variant for $69,000.
However, the cheapest Cybertruck variant now costs $100,000 and only comes with a 340-mile EPA estimated range.
The Cybertruck’s starting price has gone up 150% while the range has dropped by 32%. This means that at the $100,000 starting price, Tesla has priced out a large swath of the population from the Cybertruck market.
Another factor contributing to people holding off on purchasing a Cybertruck might also have to do with the Foundation Series program.
Tesla is expected to halt the Foundation Series Cybertruck production by the year's end. These Cybertruck variants come fully loaded with FSD software, Powreshare equipment, installation voucher, lifetime premium connectivity, and other bells and whistles, including possible larger wheels and tires.
However, for anyone who is not interested in these features, when Tesla starts selling the regular Cybertruck variants in a few months, Cybertruck starting prices will automatically fall by $20,000.
This means the dual-motor Cybertruck all-wheel-drive will start at $79,900, and the tri-motor Cybertruck Cyberbeast will start at $99,900.
After this price drop, especially on the Cybertruck AWD, the vehicle will qualify for the $7,500 federal EV tax break, further lowering the starting price to $72,500.
Many people appear to be waiting for the non-Foundaiton Series Cybertruck variants to be available before purchasing the all-electric truck.
We’ve already discussed Cybertruck's lower-than-expected sales. Although reservations are not translating to sales as much as originally hoped, it’s important to note that many people still remain excited about the all-electric truck.
If Tesla can successfully bring down Cybertruck’s production costs, the persisting excitement surrounding the vehicle suggests that the Cybertruck has the chance to be one of the best-selling trucks in the US.
Currently, this is all the information we have regarding the Cybertruck; however, we’ll be sure to keep you posted when we learn more about Tesla’s plans.
Until then, visit our site, torquenews.com/Tesla, regularly for the latest updates.
So, what do you think? Are you surprised to see Tesla has run through almost the entire Cybertruck reservation backlog so soon into the production process? Also, what do you think is the reason reservations are not translating into sales? Let us know your thoughts in the comments by clicking the red “Add new comment” button below.
Image: Screenshot from MKBHD’s Cybertruck video
For more information, check out: My Tesla Cybertruck Rear-Ended a Chevy Silverado, The Silverado is Worse Off, but My Cybertruck Will Cost More to Repair
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.
Comments
Ah duh they are going…
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Ah duh they are going through all resv to get all the $20k premiums for foundation series , they will have no issues once they sell trucks that are non foundation series . No too bright are you ? Or just click bait?
I’ve placed a reservation…
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I’ve placed a reservation mid-2020 (about 7 months after announcement).
And this June (also about 7 months after production start) I received a notification that it’s ready for order. Looks like the line of severals hundreds of thousand of preorders is already fulfilled or cancelled…
Passed on my reservation for…
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Passed on my reservation for the following reasons:
Already love my Model S and don’t really need a truck. Model S is already super cool and super reliable.
To many reliability problems reported online by new Cybertruck owners.
The smallest accidents appear to total the vehicle.
No park assist. Auto pilot and FSD delay. Light bar and range extender delay.
Won’t fit in my garage or driveway.
Resale prohibition.
Need I continue???!!!
I'm waiting for the non FS…
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I'm waiting for the non FS series trucks to start being available. That extra 20k isn't for me. I will activate my reservation when that happens!
No Surprise at all. I hold…
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No Surprise at all. I hold a reservation that was in the first 1000 deliveries. But unfortunately I didn't purchase.
I Love the cyber truck, but when I made the reservation the cyber Beast price was offered for 79k, with the new dry cathode battery that would have had 650 miles of range ...
Now, the price is almost doubled, the mileage is half, the glass not bullet proof and the truck seems to have a tons of problems.
On top of that I bought a model s plaid in November 2022, which went into a massive price reduction a month after purchased it. Like 30k
So, I am still holding the reservation, but will wait for pricing to come down and quality to go up..
Let's see..
You also have to get the…
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You also have to get the higher priced Founders series. They are $20K more and they have to sell 25,000 before the lower priced vesion. It should available in august ot september 2024
I ordered the initial 5…
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I ordered the initial 5 years ago. When I got the invite and priced the truck, I said f...it. it's too pricey. I have asked for the $100 back yet.
I had done the same stupidity for the 3 series car with a $1000 deposit. Repeat the same and said I want the money back.
So far, all I have done is loan Elon money interst free and that's my stupidity.
Tesla just has a very bad…
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Tesla just has a very bad reputation of overpromising and underdelivering. Also, they should never have unveiled their cyber truck so early. I mean who offers a product that they know will be popular without the capacity to produce it? Elon Musk fumbles the ball a lot on his way to the endzones, and it may one day cost him the game.
I was an early reservation…
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I was an early reservation holder. I received my invitation to order. I visited the Tesla store in Roger’s, Mn and I was surprised by what I saw. Price jump from original offering, reduced range and what I thought to be very poor quality and poor workmanship. This thing needs to go back to the drawing board.
As with every Tesla vehicle…
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As with every Tesla vehicle launch, they start with the most expensive models and gradually roll out the less expensive ones as production scales up. The vast majority of cyber truck reservation holders are awaiting the lower cost variants.
I am one of those customers…
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I am one of those customers who got on the reservation line over a year ago. I have also been contacted by Tesla regarding the Cyber truck availability, however I have decided to wait for the Foundation Series offer to blow over. I also make it a habit not to purchase initial vehicle models to avoid recalls. I am still much interested in purchasing the Cybertruck and will probably do so next year.
I'd like to add a few points…
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I'd like to add a few points to your analysis. I also placed a reservation when the Cybertruck was announced moons ago and I did receive an invite back in February for the Founder's series. First of all my reservation was for a tri-motor so I didn't take the bait. Then having owned 2 Tesla's, the last thing you want to do is order their first production batches because you end up with a prototype. Elon always stresses the fact that Tesla is a technology company, and with all technology companies, they ship products with bugs that they hope to fix later. Sorry but I want a car, not a software. Let others be the Beta testers. Then you have an erratic narcissistic Elon, who wants to play politics and that doesn't sit well with their customer base who leans to the center/left. Lastly, the Cybertruck has lost its initial appeal and with all the bad reviews out there, I am pretty sure that many reservations holders will never follow thru. I know I won't...
I have 2 reservations for…
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I have 2 reservations for the cybertrucks since 2020/2019? I’ve never been told they are ready?? Odd someone puts a reservation in and 2 months later they are told their cars in, Tesla has some explaining to do?
You are to loopy to…
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You are to loopy to understand !
Why should I pay $20000 more for a badge ? Yes they send it to you because it’s almost the end of foundation series most people chose to wait for regular prices ! So there no demand issue is a overprice issue !
Knowing Tesla history prices would go lower eventually !
Your title should have been:…
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Your title should have been: Tesla has run out of buyers for the foundation cyber trucks, which you admitted in the article later. Guess you didn't think it would have got as many clicks?
I agree, the original ask…
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I agree, the original ask was much less and the distance of 500 was cut short. These issues are far from promised so that is why I didn't move forward. I would rather wait for the price reduction and the 500 miles. Not to mention that the X Model are under $30,000 resale used. Makes it more attractive to wait.
I cancelled mine because of…
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I cancelled mine because of the CEO attitudes and became one of Donald Trump supporters
It's because they raised the…
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It's because they raised the price almost 40,000 dollars that made me say I'm out looks like I'm going to buy the dodge ram charger now.
Inaccurate article,…
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Inaccurate article, reservations are for normal cybertruck whenever they decide to sell it. All this time only foundation series was available at 100-120k, they’d start going aroung the list again with lower cost cybertrucks.
The price hike almost feels…
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The price hike almost feels fraudulent. You tell millions of people that you’re going to take deposits and purchase reservations for a vehicle you can afford, then never offer that vehicle for sale at that price point (or even anywhere fairly around it). A million people put in for reservations. That’s hundreds of millions of dollars. Sitting in some high interest savings account, making some rich person, even more wealthy…with your hard earned dough. Doesn’t seem right.
Thanks for the article!
All big ticket items are…
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All big ticket items are having a harder time selling. Goto any dealership for anything with a motor. With the increased rates and increase of prices it's been a double whammy to consumers
The resolution is actually…
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The resolution is actually pretty simple. Get rid of the Founders edition markup. Bring the regular trim levels that we were promised without the first edition markup blah blah and they will sell. I've had my email to build my truck since January. Once they the founders edition I'll order.
I believe you already…
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I believe you already answered your own question. People have reservations for the other non-Foundation series variants. Tesla has always launched product line starting with the highest variant first, then phase in each variant. It only makes sense that the most expensive version would have the lowest number of reservations and is nearly completed there orders for the Foundation Series. Therefore, your new reservation for a Foundation Series jumped the line ahead of the other non-foundation series variant reservations.
Reading other comments it…
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In reply to I believe you already… by Jason T (not verified)
Reading other comments it appears the problem is not just those who ordered FS, many of those “premium” buyers have chosen not to take their reservation for a variety of reasons. Regardless, “the promise” of delivering something you want, yet again, has not been met at all price and performance levels.