SpaceX Purchases Prop Up Tesla Cybertruck Sales Amid Faltering Consumer Demand
Recent data reveals that SpaceX and other companies owned by Elon Musk have become significant buyers of Tesla’s Cybertruck, effectively rescuing its sales figures from a steep decline. In the fourth quarter, SpaceX accounted for over 18% of all Cybertruck registrations in the U.S., with additional purchases made by xAI, The Boring Company, and Neuralink. Without these inter-company transactions, Cybertruck registrations would have dropped by 51%, highlighting weak consumer demand for the polarizing electric pickup. The combined value of these internal sales likely exceeds $100 million. This arrangement underscores broader challenges for Tesla, which faces its third consecutive annual sales decline and has been surpassed by BYD as the world’s top EV seller. While Musk initially predicted annual production of 250,000 units by 2025, the vehicle’s high price and divisive design have limited its appeal to everyday buyers. Investors are growing impatient as Tesla’s stock falls, with future growth reliant on unproven ventures like robotaxis. Photos suggest many purchased Cybertrucks remain idle or serve as security vehicles at SpaceX facilities, raising questions about the genuine commercial viability of the model.
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SpaceX Purchases Prop Up Tesla Cybertruck Sales Amid Faltering Consumer Demand
Recent data reveals that SpaceX and other companies owned by Elon Musk have become significant buyers of Tesla’s Cybertruck, effectively rescuing its sales figures from a steep decline. In the fourth quarter, SpaceX accounted for over 18% of all Cybertruck registrations in the U.S., with additional purchases made by xAI, The Boring Company, and Neuralink. Without these inter-company transactions, Cybertruck registrations would have dropped by 51%, highlighting weak consumer demand for the polarizing electric pickup. The combined value of these internal sales likely exceeds $100 million. This arrangement underscores broader challenges for Tesla, which faces its third consecutive annual sales decline and has been surpassed by BYD as the world’s top EV seller. While Musk initially predicted annual production of 250,000 units by 2025, the vehicle’s high price and divisive design have limited its appeal to everyday buyers. Investors are growing impatient as Tesla’s stock falls, with future growth reliant on unproven ventures like robotaxis. Photos suggest many purchased Cybertrucks remain idle or serve as security vehicles at SpaceX facilities, raising questions about the genuine commercial viability of the model.
latimes