Tesla to refund many Cybertruck deposits as demand exceeds production, Musk says

Tesla plans to return deposits to many Cybertruck customers because outstanding orders exceed the number of pickups it can build, CEO Elon Musk said on Monday, according to Business Recorder. The company intends to keep the Texas production line operating for about eight more months, but expects to end Cybertruck manufacturing around mid-2027.

Musk said Tesla would add a shift to complete more existing orders before redirecting resources to its Cybercab robotaxi. The change follows weak demand: US Cybertruck sales declined 48% to 20,237 vehicles last year, Kelley Blue Book data showed, far below Musk’s previous estimate of 250,000 annual sales. The Cybertruck entered customer deliveries in late 2023, and the planned factory changes are intended to expand Cybercab production.