It has been two years since the delivery of Tesla's Cybertruck, a pioneering model that once garnered millions of pre-orders but has failed to replicate the brand's success in the sedan and SUV segments. Significant price increases, recurring quality issues, and its avant-garde design positioning have collectively contributed to its lukewarm market reception.
The past weekend coincided with the $Tesla (TSLA.US)$ second anniversary of the Cybertruck's delivery commencement. During this period, this boldly designed pickup truck has become a commercial failure, falling far short of CEO Elon Musk’s expectations.
In July 2023, Musk boasted: 'Demand is far exceeding expectations—you can't even see the shadow of expectations.' A few months later, during an earnings call, he stated that more than one million people had pre-ordered the truck.
As early as 2019, Musk hinted that the Cybertruck would become Tesla's 'best' product ever, featuring a unique angular design made from stainless steel alloy. The vehicle was intended to open up new market segments for the electric vehicle manufacturer, which primarily sells sedans and SUVs. At the time, Musk also promised it would be relatively affordable, with the base version starting at $39,900.
Delays then began to accumulate, pushing Tesla's production timeline from 2021 to 2023. Despite receiving a large number of pre-orders (the truck's design evoked comparisons to the iconic DeLorean car from Back to the Future), actual demand did not materialize.
According to Cox Automotive data, in 2024, the electric vehicle company sold fewer than 39,000 Cybertrucks—far below the company's ultimate goal of 250,000 units per year. As of October 2025, Tesla had delivered only 17,317 units that year, marking a 42% decline compared to the same period in 2024.
Stephanie Valdez Streaty, Director of Industry Insights at Cox Automotive, stated:
“The Cybertruck generated significant headlines and numerous pre-orders when it launched.” She noted that demand peaked in the fall of 2024 and has been “on a downward trend ever since.”
Several Key Reasons for the Cooling Demand for the Cybertruck
There are several reasons for the cooling demand, the most significant being that the final price of the Cybertruck ended up much higher than originally planned.
When many customers paid refundable deposits to reserve, as Elon Musk stated in 2019, the price range of the Cybertruck was set between $39,900 and $69,900. By 2023, Tesla indicated that its base rear-wheel-drive version would be priced at $60,990, with the all-wheel-drive version priced at $79,900. The most expensive Cyberbeast version is priced as high as $99,990.
After its launch in April this year, Tesla only sold the rear-wheel-drive version of the Cybertruck for a few months at $70,000. Currently, the Cyberbeast version’s starting price on Tesla's website is approximately $115,000, about $15,000 higher than the price Tesla announced in 2023. The price of the all-wheel-drive version has remained unchanged.
The Cybertruck also faces reputation issues, partly due to quality problems that began accumulating within weeks of its release. Since January 2024, the Cybertruck has been subject to at least 10 recalls due to various manufacturing issues.
Moreover, the futuristic design of this truck does not appeal much to the blue-collar workers who typically buy pickup trucks—vehicles often marketed as rugged work vehicles. Jessica Caldwell, director of insights at automotive research firm Edmunds, described the Cybertruck and its futuristic design as a status symbol aimed at urban buyers.
Ford Motor (F.N) CEO Jim Farley said in 2023 regarding the Cybertruck:
"It’s like a cool, high-end product parked in front of a hotel. But I don’t make that kind of truck. I make trucks for real people doing real work, and that’s a different kind of truck."
Another issue is Elon Musk himself, who has become an increasingly polarizing figure in recent years due to his involvement in politics. Unlike other Tesla models that are closer to ordinary cars on the road, the Cybertruck is a statement piece that is difficult to separate from the Tesla CEO.
While it is difficult to quantify how much Musk’s political stance has impacted Tesla, a recent working paper published by researchers at Yale University found that his "polarizing and partisan behavior" may have reduced the electric vehicle manufacturer’s sales by more than one million units over the past few years.
Is the pickup truck market just difficult?
But Tesla is not the only company struggling with electric pickup truck sales. They simply are less popular, even though their gas-guzzling counterparts tend to dominate in the U.S. According to Edmunds, four of the top ten best-selling models in the U.S. last year were pickups, including the most popular Ford F-Series and Chevrolet Silverado.
Experts indicate that consumers are not enthusiastic about electric pickup trucks, partly due to high prices and concerns about reliability. The driving range of electric trucks may significantly decrease when towing heavy loads or operating under less-than-ideal conditions, such as cold weather.
Karl Brauer, executive analyst at the automotive research website ISeeCars, stated, "Electric trucks represent a very specific market. You need to find people who both want an electric truck and are not concerned about its inherent drawbacks."
The leader in the electric truck market, Ford's F-150 Lightning, starts at $54,780 — a premium compared to the three cheapest configurations of the gasoline-powered F-Series, with the F-150 XL starting at $38,810. The Chevrolet Silverado EV starts at $55,895, nearly $19,000 more than the cheapest gasoline-powered Silverado.
According to a report by The Wall Street Journal earlier this month, as of October, Ford had sold only 24,577 Lightnings in 2025 and is considering discontinuing this pickup truck, which was launched just three years ago. Executives at General Motors have also reportedly discussed phasing out some of the company’s electric pickup trucks, according to The Wall Street Journal.
General Motors stated in a declaration that there are currently no 'plans' to alter its product lineup, and progress is being made in reducing production costs. Ford previously told MarketWatch that it would not comment on 'speculation regarding future product plans.'
Baltis Streety of Cox Automotive believes that what will truly 'move the needle' is whether automakers can reduce production costs for electric pickup trucks and significantly cut their prices. Some companies are already working towards this goal.
Ford announced in August that it will launch a four-door midsize electric pickup truck priced at approximately $30,000 in 2027. The vehicle will be built on a new universal electric vehicle platform, which Ford claims is expected to shorten assembly time and reduce the number of components. Additionally, Slate Auto, a startup backed by Jeff Bezos, is developing a compact electric pickup truck priced below $30,000.
Editor/Liam
