Elon Musk’s Cybertruck is selling at no more than 13% of his annual goal

Tesla’s Cybertruck is selling at no more than about 13% of the annual volume billionaire Elon Musk once targeted, according to estimates built from the carmaker’s third-quarter delivery report, and a share of its earlier sales went to companies Musk controls.

Tesla does not report Cybertruck sales. Its report listed 478,237 deliveries of the Model 3 and Model Y and 8,295 “Other Models,” a category that fell 48% from 15,933 a year earlier and was the lowest since 2021. Model S and Model X production has ended, so the group now holds mainly the Cybertruck, the Semi and the Cybercab, plus leftover S and X units.

Electrek estimates that 7,000 to 8,000 of the third-quarter vehicles were Cybertrucks, with a few hundred each of Semis and older cars. That is an annual rate of 28,000 to 32,000, or 13% of the 250,000 target at the top of the range. Musk has said he expects the truck to sell as many as 500,000 a year, and Tesla’s second-quarter investor presentation put the Texas factory’s maximum Cybertruck output at 125,000.

The estimates come with a caveat. Tesla has not said whether it counts Cybercabs, which it keeps on its own books, in deliveries, so the 8,295 cannot be read as a pure Cybertruck figure. Tesla has never confirmed a number for the truck.

Tesla unveiled the pickup in 2019 and began volume production in late 2023 after repeated delays. It launched at a starting price near $80,000 and has since added a cheaper version at about $60,000, which Electrek has called the real test of demand. Tesla’s overall deliveries fell for three straight years through 2025, to 1.63 million from a 2023 peak of 1.81 million.

Demand for the truck has been soft for some time. Cox Automotive estimated nearly 39,000 U.S. Cybertruck sales in 2024, the first full year on the market. In the fourth quarter of 2025, S&P Global Mobility data showed SpaceX bought 1,279 Cybertrucks, 18% of U.S. registrations, according to Bloomberg and Electrek. Without those purchases, registrations would have fallen 51% from a year earlier. Electrek estimated the purchases at well over $100 million.

The sales were between separate companies, and the distinction matters. Tesla is publicly listed, and Musk owns nearly 11% of it. SpaceX was private at the time of those purchases, and Musk controls it. The terms of the intercompany sales have not been disclosed, and the trucks were sold by Tesla, not by Musk personally.

The weak Cybertruck figure sits inside an otherwise solid quarter. Tesla delivered 486,532 vehicles in total, about 2% below last year’s record but roughly 25,000 above Wall Street’s consensus, and it worked down 22,141 vehicles of inventory. The Model 3 and Model Y made up about 98% of deliveries.

The pickup matters little to Musk’s fortune, which Forbes put at about $1 trillion last week and which rests chiefly on SpaceX. Tesla says its strategy increasingly centers on driverless cars and humanoid robots rather than trucks. Investors will hear more when Tesla reports third-quarter earnings on Oct. 21.