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Tesla Cybertruck: Up to 500,000 Sales Per Year, Says Elon Musk

Elon Musk adresssing Tesla's annual shareholders' meeting | Photo: YouTube/Tesla
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Khatir Soltani
The Tesla Cybertruck was introduced in the fall of 2019, but we have yet to see a production version.

•    Tesla could eventually sell between 250,000 and 500,000 Cybertrucks per year, according to Elon Musk.

•    The executive told a shareholders’ meeting that production and deliveries will start this year.

•    The Cybertruck is set to go into production starting this summer at Tesla's factory in Texas.

This week was the annual meeting of Tesla's shareholders. Several topics of interest were discussed by head man Elon Musk, and there was news regarding the current most anticipated model from the brand, the Cybertruck. 

That electric truck was of course first presented with great fanfare in 2019. Production of the model is scheduled to start this summer at Tesla's Texas factory. And according to Elon Musk, the Tesla Cybertruck could sell 250,000 to 500,000 units per year once production reaches full capacity. A realistic prediction or completely crazy? Precisely, here's what the executive said: “I'd say a quarter million a year is a reasonable guess and it might be 500,000, I don't know. We'll make as many as people want and can afford.”

To put things in perspective, Ford sold just over 650,000 units of its F-150 last year, the industry's best-selling pickup.

Tesla Cybertruck
Tesla Cybertruck | Photo: Tesla

Elon Musk did also touch on the issue of production costs that will be difficult to reduce. His reference to producing as many units as buyers “can afford” also suggests that the initial starting price previously suggested - $39,900 USD, or around $50,000 CAD – is probably unrealistic.   

This could be a deterrent for some of the thousands of current reservation holders. If the official price is double previously announced, expect to see some would-be buyers move on to something else.

Elon Musk didn't say exactly when production and delivery of the Cybertruck would get underway, only that it will happen this year.

For the rest, we'll have to see. While we've learned to take certain statements about Tesla with a grain of salt, we've also learned not to underestimate the company's capabilities and the interest of fans who have an undying love for the brand.

Khatir Soltani
Khatir Soltani
Automotive expert
As a car enthusiast, he tests and compares vehicles from different categories through the eyes of the consumer, ensuring relevant and objective reviews.
  • Over 6 years experience as a car reviewer
  • Over 50 test drives in the last year
  • Involved in discussions with virtually every auto manufacturer in Canada