In late 2023, Elon Musk announced over a million reservations for the Cybertruck, boasting that demand was exceptional. However, actual sales fell significantly short, with only 46,096 units sold since launch, a stark contrast to Musk's prediction of 250,000 annual sales. Analysts indicate that Tesla's conversion rate from reservations to actual sales is about 5%, considerably lower than industry averages. This raises concerns about the company's manufacturing capacity against its sales expectations, as the Texas Gigafactory can produce much more than current sales indicate.
On an earnings call a month before the November 2023 launch of the production vehicle, Musk boasted that Tesla had bagged "over 1 million" Cybertruck reservations and that "demand is off the charts."
By that reckoning, Tesla's conversion rate is just under 5 percent. That's at the lower end of the conversion scale, but many experts, used to Tesla's stratospheric sales, might consider that a flop.
Collection
[
|
...
]