Tesla is selling unsold Cybertrucks to Elon Musk’s other companies
Sales of Tesla’s Cybertruck, once expected to reach hundreds of thousands per year, are currently in the low tens of thousands range and falling. Last quarter in the US, Tesla sold fewer than 5,400 of the “apocalypse-proof” vehicles, for a total of about 16,000 this year, Business Insider reports, citing Cox Automotive data.
That’s a 63% drop from the same quarter a year ago, even as Tesla as a whole notched its best quarterly sales ever, spurred by the expiration of the $7,500 federal EV tax credit.
With sales lagging, the company has dialed back production of the stainless steel behemoths, but there’s still been an excess.
Fortunately for Tesla, Electrek reports that CEO Elon Musk has other uses for Cybertrucks within his other companies, which often share resources and personnel. Tesla is delivering truckloads of the EV to both xAI (which Tesla shareholders will vote next month on whether to invest in) and SpaceX, where Cybertrucks are replacing internal combustion engine support fleets.
There’s a lot of chatter about “circular deals” in the billion-dollar pacts announced in the AI space on a weekly basis. But it doesn’t get much more circular than this, with production and buying activity kept within the Musk corporate family.
That’s a 63% drop from the same quarter a year ago, even as Tesla as a whole notched its best quarterly sales ever, spurred by the expiration of the $7,500 federal EV tax credit.
With sales lagging, the company has dialed back production of the stainless steel behemoths, but there’s still been an excess.
Fortunately for Tesla, Electrek reports that CEO Elon Musk has other uses for Cybertrucks within his other companies, which often share resources and personnel. Tesla is delivering truckloads of the EV to both xAI (which Tesla shareholders will vote next month on whether to invest in) and SpaceX, where Cybertrucks are replacing internal combustion engine support fleets.
There’s a lot of chatter about “circular deals” in the billion-dollar pacts announced in the AI space on a weekly basis. But it doesn’t get much more circular than this, with production and buying activity kept within the Musk corporate family.
