Tesla to refund many Cybertruck deposits as demand exceeds production, Musk says
He has said the firm will add an extra production shift to fulfill outstanding orders before manufacturing winds down
Tesla is set to refund deposits from many Cybertruck customers as production falls short of demand, CEO Elon Musk revealed. The electric vehicle manufacturer is winding down the pickup truck's production at its Texas factory, with the process expected to conclude in about eight months. Musk announced on Monday (Nov 9) that the company will attempt to fulfill as many orders as possible before shutting down the line, but deposit refunds will be necessary for a significant number of customers.
The production halt is slated for mid-2027, with resources then being redirected to develop the Cybercab, a vehicle crucial to Tesla's autonomous driving ambitions. Despite Cybertruck entering production in late 2023, sales have fallen far short of Musk's expectations. In 2025, US sales plummeted 48% to 20,237 units, according to Kelley Blue Book, significantly below Musk's earlier projection of 250,000 annual sales.
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Also reported by 4 other outlets
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- Tesla to refund many Cybertruck deposits as demand exceeds production, Musk says channelnewsasia.com
