Tesla $TSLA ( ▼ 0.2% ) is now producing fewer Cybertrucks than it did when the truck first became available to regular buyers.
In early 2024, Tesla built about 3,000 Cybertrucks in the first quarter. Production climbed through the year, eventually topping 15,000 units in Q3 as the company tried to scale the stainless-steel pickup it once projected would hit 500,000 units a year.
That demand never materialized. Even with aggressive pricing tweaks and attention-grabbing marketing, Tesla has been forced to slow the line rather than expand it.
According to analyst Troy Teslike, Tesla is on track to produce just 2,666 Cybertrucks in Q4 2025, falling below the very first major production quarter.
Teslike says this points to an annualized run rate under 11,000 vehicles and argues it confirms the Cybertruck has been a commercial failure.