Musk said, on a 2023 earnings call, that he expected “the Tesla Cybertruck to sell between 250,000 and 500,000 units per year” [1]. It sold fewer than 40,000 in 2024 [2]. Tesla’s sales in 2024 weren’t 100+ P/E calibre, but they also didn’t yet reflect the sort of cratering we saw at the end of ‘24 in both Tesla sales and resale values [3].

Cybertruck flopped as a product before Tesla flopped as a brand. It’s why Tesla is throttling down their production [4].

[1] https://insideevs.com/news/667723/musk-estimates-tesla-could...

[2] https://insideevs.com/news/747195/tesla-cybertruck-sales-dem...

[3] https://www.cargurus.com/research/price-trends/Tesla-m112?en...

[4] https://electrek.co/2025/01/16/tesla-throttles-down-cybertru...