That’s pretty wild. A net project loss of around $2 billion. Now, I have to admit that I haven’t fact checked the numbers here, but what we know for certain is that Tesla planned to produce a lot of Cybertrucks per year and ended up producing a small fraction of that target. In fact, the annual sales target for the Cybertruck was higher than 125,000 — it was 250,000, with a goal of getting up to 500,000!

The Cybertruck was hyped up as having more reservations than any vehicle in history and was supposedly going to shatter records and transform the market. I warned people on many occasions that the reservation total was not a real reservation total and was definitely not a reliable indicator of demand because a) a reservation only required a $100 refundable deposit, and b) a ton of people made reservations after Elon Musk said that you could lock in the price of lifetime Full Self Driving when making a reservation (so, you’d only have to pay $6,000 for FSD no matter how much the cost of it went up in the following years). Anyway, the Cybertruck had other issues as well when it finally arrived. It cost about twice as much as it was supposed to cost and it had about half as much range as it was supposed to have. In other words, it was not even close to the vehicle it was supposed to be — its range per dollar cost was about ¼ what it was supposed to be.