Cybertruck Sales “Propped Up” By SpaceX Buying Spree

Bloomberg is out with a new report saying Tesla’s Cybertruck sales were “propped up” in the fourth quarter by purchases from companies inside Elon Musk’s business empire.

SpaceX accounted for 1,279 Cybertruck registrations, or about 18% of all U.S. Cybertruck registrations during the last quarter of 2025. The report went on to say that xAI, Boring Co., and Neuralink also purchased the stainless-steel EV during the period.

“That means almost one in every five Cybertrucks registered during the period were delivered from one part of Musk’s sprawling business empire to another,” Bloomberg’s Dana Hull noted.

Hull added, “Without those sales to other Musk-run companies — which included xAI, Boring Co. and Neuralink, in addition to SpaceX — Cybertruck registrations in the fourth quarter would have fallen 51%.”

Hull quoted Sam Fiorani, vice president of global vehicle forecasting for advisory firm AutoForecast Solutions, who said, “Tesla is running out of buyers for the Cybertruck.”

Hull said the registration data was sourced from S&P Global Mobility and, in her words, suggests only that “demand for the pickup is fading just two years after launch.”

Cybertruck’s struggles are not unique to Tesla. In fact, electric pickups have been a major bust across the U.S. EV market. Ford recently converted its electric F-150 Lightning production lines to extended-range hybrid vehicles. And we’re sure in President Trump’s war economy, autos will be converting EV lines or other production lines into making weapons (read report). 

Despite the continued downturn in EVs, Cox Automotive data show the Cybertruck was still the top-selling EV truck in the U.S. in the first quarter.

High sticker price and elevated interest rates are likely major factors behind the Cybertruck’s dismal sales. Bankrate data show the national average 60-month loan rate for new vehicles is still above 7%, down from 8% during the Biden years but still sharply higher than the sub-4% levels seen in 2021.

Federal subsidies for EVs have also been cut under the Trump administration’s second term.