After an explosive debut that saw Tesla’s Cybertruck become a hit with fans of electric vehicles, new reports suggest that the truck’s red-hot demand could be cooling off. For a vehicle that turned heads with its bold design and jaw-dropping price tag, the Cybertruck seemed to have the world at its feet. However, it now appears that Tesla might be running out of buyers for the futuristic pickup after quickly working through its massive reservation list.
The Cybertruck, which launched to much fanfare after years of delays, has been a notable success for Tesla. In less than a year, it has become one of the top-selling six-figure vehicles in the U.S. and is the third-best-selling electric car in the country. The truck’s sharp, angular design, polarizing though it may be, captivated buyers, and Tesla had a reported one to two million reservations before deliveries even began.
But things seem to have shifted, with Tesla now potentially nearing the end of its backlog. The company’s third-quarter 2024 sales figures revealed that over 16,000 Cybertrucks were sold in the U.S., adding to the 11,000 sold in the first half of the year. For a vehicle with a starting price around $100,000, that’s impressive. Still, it’s far from the initial sky-high ambitions Tesla had for the Cybertruck.
The heart of the issue lies in the dwindling number of reservation holders. A recent report from Inside EVs suggests that Tesla may have worked through the bulk of its reservation list, with new buyers able to get their trucks far sooner than expected. This swift fulfillment of orders comes despite Tesla’s earlier claims that it had millions of reservations. A user on the Cybertruck Owners Forum confirmed this, saying, “I say confirmed because [Tesla is] now inviting someone like me, who reserved eight months after launch/first customer deliveries, to order and take delivery of a regular (non-Foundation) Cybertruck within 60 days.”
This rapid progression through the waiting list has surprised some early reservation holders, many of whom had anticipated waiting years for their trucks. As one forum member noted, “The multi-year pre-launch backlog has dissipated before the first year was out.” This could be a sign that Tesla’s initial pool of buyers has been largely satisfied or that some reservation holders may be delaying their purchases in hopes of a more affordable version of the truck down the line.
However, it’s not all smooth sailing for potential Cybertruck buyers. Tesla initially promised a base model priced at $39,900, but that version of the truck has yet to materialize. Instead, the current lineup starts closer to $100,000, leaving those hoping for a cheaper option out in the cold. The cancellation of the lower-cost RWD version, originally expected to sell for $60,990, further complicates matters for budget-conscious buyers.
Additionally, while Tesla’s Cybertruck has been a hit in the U.S., international buyers are still left waiting. The truck is currently only available in America, with plans to expand into Canada in the near future. European customers, on the other hand, may face an even longer wait due to the truck’s pedestrian safety concerns, which could keep it off the roads in countries with stricter regulations.
As more buyers get their hands on their long-awaited trucks, discussions have heated up on forums, with some owners speculating that Tesla could soon find itself without a significant backlog. But some reservation holders aren’t in a rush, as forum member Igs explained: “There are still hundreds of thousands of reservations that haven’t been filled yet as the holders wait for the right time, or the right price. A reservation holder will always have priority over a non-reservation holder.”
While the Cybertruck has undoubtedly had a strong debut, it’s clear that Tesla’s ability to keep up the momentum will depend on how well it navigates pricing, production, and the rollout of new versions of the truck. For now, it seems the company may be on the verge of exhausting its initial wave of buyers, leaving the question: Will the Cybertruck continue to draw new customers once the early adopters have all been satisfied?
As the dust settles, Tesla faces the challenge of ensuring its cutting-edge pickup doesn’t lose its luster in the marketplace. Only time will tell if the Cybertruck can maintain its popularity or if it will become another niche vehicle in Tesla’s fleet.
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