The Tesla Cybertruck was born as a project intended to redefine the pickup truck segment, but its commercial evolution ended up falling far short of initial forecasts. What was once presented as a disruptive product, with seemingly overwhelming demand, now faces a much more complex scenario.

In fact, the solution found by Tesla to move part of its stock doesn't come from the open market, but from its own corporate ecosystem.

According to information published by the specialized media outlet Electrek, companies controlled by Elon Musk have begun buying units of the electric pickup truck. Specifically, SpaceX and xAI have already acquired around 1,000 units, a figure that could climb to 2,000 in the coming months.

Internal purchases to sustain the numbers

The information isn't entirely surprising. In October, Electrek itself had already reported that Tesla was placing vehicles with companies within the same corporate group. At the time, the maneuver was interpreted as a way to take advantage of tax incentives and, at the same time, soften the impact of a demand that was beginning to cool. From an accounting point of view, the strategy has an immediate effect: it allows for the recording of sales that would not otherwise exist. However, it also reveals that the Cybertruck failed to establish itself as a high-volume product, despite the expectations generated since its launch. A considerable economic impact. The move is also significant in financial terms. Considering the current prices of the Cybertruck, SpaceX and xAI would have spent more than $80,000,000 on the purchase of these units, and that's in the most conservative scenario. Tesla markets its electric pickup in versions ranging from $80,000 to $115,000, figures far removed from the $39,$900 promised when the model was first presented.

During the first few months on the market, Tesla managed to sell the more expensive versions with relative ease. The initial shortage and long waiting lists inflated prices on the used market, where some buyers even resold units at significant markups. That bubble, however, quickly burst.

Production without clear demand

The main problem for Tesla today is not technical, but commercial. The company is having difficulty selling Cybertruck production, and it's not even easy to determine how many units it actually sells. In its financial reports, Tesla groups its models into two main categories: on the one hand, the higher-volume vehicles, such as the Model 3 and Model Y, and on the other, the high-end models, which include the Model S, Model X, and Cybertruck. Even so, estimates cited by Electrek suggest that Tesla is not selling more than 20,000 Cybertrucks per year. The figure contrasts sharply with the installed capacity, which is around 250,000 units per year, and with Musk's previous statements, who spoke of a potential of up to 500,000 units per year. As the months passed, images began to multiply of large lots of unsold Cybertrucks parked in shopping centers or logistics yards, some of them gathering dust for weeks or even months before being delivered. A product without a defined market. Beyond the numbers, the Cybertruck faces a fundamental problem: it hasn't found a clear market. In off-road use, it hasn't stood out against traditional pickups, and its size, weight, and fuel consumption make it impractical as a work vehicle in many areas of the United States. In rural regions, where pickups often perform demanding work tasks, the charging infrastructure remains limited. A high-consumption electric vehicle, especially when towing heavy loads, loses appeal compared to options with combustion engines or hybrid solutions. In urban areas, however, the Cybertruck ended up becoming more of an exotic object than a functional option. This is compounded by various questions related to design, ergonomics, and reliability, aspects that have weighed heavily on the decision of many potential buyers. A problem that is not exclusive to Tesla. The context doesn't help either. Other brands face similar difficulties in the electric pickup segment. Ford, for example, had to adjust production of the Ford F-150 Lightning due to lower-than-expected demand, once the most enthusiastic customers had already made their purchases.The industry seems to be heading towards intermediate solutions, such as extended-range systems, that allow driving in electric mode most of the time without sacrificing long ranges for intensive use. In this scenario, the Cybertruck is caught between technological promise and a much harsher market reality.