Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk said the automaker will refund Cybertruck deposits to many customers as it prepares to wind down production of the electric pickup, rejecting reports that the decision stems from unprofitability.
Musk Rejects Reports Of Cybertruck Unprofitability
"The Cybertruck order rate far exceeds our production rate," Musk clarified in an X post early Monday. "We will try to make as many as possible before shutting down the line in about 8 months, but will have to return deposits for a lot of people."
"This is not a case of Cybertruck being unprofitable, as has been misreported by legacy media," Musk said, arguing that manufacturing complexity created an opportunity cost "vastly outweighed by the value of incremental Cybercab production."
His remarks followed Tesla’s November 6 announcement that Cybertruck production would end around mid-2027, freeing manufacturing capacity at Gigafactory Texas for its autonomous robotaxi. Reuters reported the decision that day.
Tesla Plans Additional Shift Before Shutdown
Musk’s comments followed his Saturday announcement that Tesla would add another production shift to fulfill outstanding Cybertruck orders before dismantling the assembly line for Cybercab expansion.
However, the pickup’s commercial performance has fallen short of earlier expectations. According to Kelley Blue Book figures, U.S. Cybertruck sales declined 48% to 20,237 vehicles in 2025, compared with Musk’s earlier annual target of 250,000.
Cybercab Takes Priority Despite Manufacturing Challenges
The Cybertruck’s stainless-steel construction, 48-volt electrical architecture and steer-by-wire technology require specialized manufacturing processes, according to Tesla’s published specifications. The company now intends to prioritize Cybercab, a purpose-built autonomous vehicle without conventional driving controls.
Tesla has already begun expanding Cybercab operations, although regulatory approvals remain a challenge, with federal regulators reviewing Cybercab’s compliance with vehicle safety standards.
Musk has not disclosed how many Cybertruck reservations remain unfulfilled or how much Tesla expects to refund.
Price Action: TSLA shares were trading 0.09% lower at $357.90 in pre-market trading on Monday, according to Benzinga Pro data.
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