Tesla’s Cybertruck, the highly anticipated and unconventional electric pickup, has faced another recall, its fourth since launching late last year. While recalls are often unwelcome news for automakers, this particular announcement inadvertently revealed a key piece of information that Tesla has kept under wraps: the number of Cybertrucks sold to date.
In a letter from the National Highway Traffic Safety Administration (NHTSA) dated June 24th, Tesla detailed a recall for a front windshield wiper issue. The recall notice explained that the Cybertruck’s unique, extra-large single front wiper could fail due to excessive electrical current. Alongside this, a separate recall was issued for a trim panel in the truck bed. Crucially, within the recall documentation, Tesla disclosed the quantity of vehicles affected – a figure that provides a revealing insight into Cybertruck sales.
Tesla stated that 11,688 Cybertrucks were subject to this recall. This number is significant because it encompasses vehicles currently in use by customers as well as those in transit. As Tesla doesn’t publicly break down Cybertruck sales in their quarterly reports, this recall notice provides the first concrete indication of how many Cybertrucks have actually been sold and delivered.
By examining these figures in conjunction with previous announcements, we can estimate Tesla’s Cybertruck production and delivery rate. Production of the Cybertruck began in limited volumes at Tesla’s Giga Austin facility in late November of the previous year. A prior recall notice from Tesla indicated that 1,163 Cybertrucks were delivered in December. Deducting this December figure from the total 11,688 recalled vehicles suggests that Tesla produced approximately 10,525 Cybertrucks in 2024 up to the recall date. This translates to an average monthly delivery rate of around 1,754 Cybertrucks in 2024, considering the data runs until late June.
Looking ahead, Tesla’s production goals suggest a significant ramp-up. At Tesla’s annual shareholder meeting just weeks prior, CEO Elon Musk announced that the company had achieved a production milestone of 1,300 Cybertrucks per week. Furthermore, Musk outlined an ambitious “stretch goal” to reach 2,500 Cybertrucks per week by the end of 2024.
If Tesla were to sustain a production rate of 2,500 Cybertrucks per week, this could theoretically translate to an annual production volume of 125,000 vehicles, accounting for a standard two weeks of factory downtime. This figure represents half of Tesla’s stated full-volume production target of 250,000 Cybertrucks per year.
However, a crucial question remains: is there sufficient demand to absorb such a large number of Cybertrucks? Elon Musk has previously asserted that Cybertruck demand is “off the hook.” During the shareholder meeting, he also mentioned the forthcoming launch of more affordable, non-Foundation Series Cybertruck models. While the initial Foundation Series starts at a premium price of $102,235, more accessible trims like the Cyberbeast ($96,390) and All-Wheel Drive ($76,390) versions are anticipated to enter the market, potentially broadening the customer base.
The broader electric vehicle market, even for Tesla’s popular models like the Model Y SUV, is currently navigating a complex demand landscape. Musk acknowledged at the shareholder meeting that near-term demand and sales are facing headwinds as the industry undergoes a period of transition. He noted the challenging market conditions, mentioning that competitors are also scaling back their investments and production in the EV sector.
Industry observers are keenly awaiting Tesla’s overall second-quarter delivery numbers, expected to be released early next week. Current Bloomberg consensus estimates project around 441,000 deliveries for the quarter. If this projection holds true, it would represent an increase from the 386,800 deliveries in the first quarter of 2024, but a decrease compared to the 466,100 deliveries reported in the same quarter last year.
In conclusion, while a recall is typically unwelcome news, in this instance, it has provided a valuable, albeit unintentional, glimpse into the early sales performance of the Tesla Cybertruck. The figure of 11,688 Cybertrucks sold offers a concrete data point for analysts and enthusiasts alike, providing a foundation to assess the vehicle’s market reception and track its production ramp-up in the evolving electric vehicle landscape.
References:
- NHTSA Recall Letter: https://static.nhtsa.gov/odi/rcl/2024/RCAK-24V456-3688.pdf
- Electrek – Tesla produces 1,300 Cybertrucks per week: https://electrek.co/2024/06/14/tesla-produces-1300-cybertrucks-per-week-foundations-series/
- Elon Musk’s tweet on 2,500 Cybertrucks per week goal: https://x.com/Tesla/status/1801367670186520759
- Yahoo Finance – Tesla Cybertruck demand ‘off the hook’: https://finance.yahoo.com/news/tesla-cybertruck-demand-so-far-off-the-hook-you-cant-even-see-the-hook-musk-says-163548554.html
- Yahoo Finance – Musk comments on EV market: https://finance.yahoo.com/news/dont-fire-steve-jobs-tesla-analysts-react-to-approval-of-elon-musks-pay-package-161905962.html
