Tesla Cybertruck Sales Surge Despite Production Constraints

On November 30, 2023, Tesla Inc. began delivering the long-anticipated Cybertruck to customers in the U.S. Over the course of the year, the company reported sales of 16,692 Cybertrucks in the third quarter alone, surpassing competitors such as the Ford F-150 Lightning and Rivian R1T. This performance positioned the Cybertruck as the third-best-selling electric vehicle (EV) in the U.S., following the Model Y and Model 3.

From January to September 2023, Tesla delivered a total of 28,250 Cybertrucks, outperforming its luxury offerings, including the Model S and Model X. Additionally, the Cybertruck began deliveries in Mexico and Canada this year, with production achieving a positive gross margin in the third quarter.

The Cybertruck is available in two variants: an all-wheel-drive model starting at $79,990 and the Cyberbeast variant priced at $99,990. Initially, Tesla had announced three variants, with the entry-level model expected to start at $39,900, but current prices reflect a premium positioning.

Despite the upward trend in sales, CEO Elon Musk indicated that deliveries are below expectations. Musk aims for production of 250,000 Cybertrucks by 2025, but the company currently has an annual vehicle capacity of approximately 125,000 units at its Texas gigafactory. A third, more affordable variant is in consideration, which could enhance delivery figures further.

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