Tesla starts offering early Cybertruck delivery for long-term TSLA shareholders
Tesla has put up a webpage allowing TSLA shareholders to register for early Cybertruck delivery, as long as they fit certain criteria. It could give us a hint as to how Cybertruck deliveries are going.
Tesla first started delivering Cybertrucks in November of last year, more than three months ago today. First deliveries were of the limited-edition “Foundation series”, which costs a $20k premium for what seems to be some slight trim differences and the privilege of having early delivery. So far, virtually all confirmed Cybertruck orders have been of the Foundation Series (and most in CA and TX), according to the order tracking list on Cybertruck Owner’s Club.
But now Tesla is adding another method for Cybertruck reservation holders to jump in front of the line – or perhaps an incentive to enhance the seeming exclusivity of the model.
Tesla’s website now has a page where shareholders can register for early delivery, as long as they meet these eligibility requirements:
- The Cybertruck reservation must be in the participant’s name and have been made prior to March 1st, 2024
- The participant has not yet taken delivery of a Cybertruck
- Each participant must provide brokerage statements showing that you owned TSLA shares on Feb. 28, 2021 and owned at least 500 TSLA shares on Feb. 29, 2024
- The brokerage statements for Feb. 29, 2024 must show that you owned at least 50% of the TSLA shares that you owned on Feb. 28, 2021
- Brokerage statements proving shareholdings must clearly show first/last name, statement date, and Tesla shares. All other information may be redacted.
These steps must be taken by Friday, March 22, 2024 11:59 PM CT CDT in order to hop the line, and can only be done once per customer and only in the US or Canada (where it’s coming soon).
As a result, even if a shareholder reserved a Cybertruck after initial deliveries began, they could still hop to the front of the Cybertruck line as long as they’ve held a significant amount of shares for some time.
This isn’t the first time Tesla has given special treatment to shareholders, specifically on something Cybertruck-related. A month before the Cybertruck delivery event, Tesla offered TSLA shareholders entries into a lottery for tickets to attend the event.
The company also recently offered accelerated delivery with referral credits, also for Foundation Series trucks, with a referral reward that sold out within hours.
If you fit the criteria and want to register for early delivery, head over to Tesla’s registration page here.
Electrek’s Take
Could this move also give us a sense of how Cybertruck deliveries are going?
Originally it was rumored that the Foundation Series would encompass only the first 1,000 vehicles. Later, rumors said that this number expanded to 20-25k. The company has not confirmed how many Foundation Series Cybertrucks will be made (which…would certainly be relevant information for collectors to know before spending a $20k premium).
Tesla has claimed that it currently has annual production capacity to produce 125,000 Cybertrucks per year – a number that wasn’t all that believable from the get-go. So, a quarter of a year into production, this would mean that Tesla should have been able to make 30,000+ Cybertrucks by now.
But if the company is just starting to offer early delivery to shareholders, either this means they’re going to produce tens of thousands of Foundation Series trucks, or they’re nowhere near 125,000 production capacity. We’re going to guess it’s the latter.
This move could also signal that the take-rate for Foundation Series invites has been disappointing. Customers may be waiting so they can avoid the $20k premium (they did reserve a $40k truck, after all, so $120k could certainly inspire sticker shock), or may be waiting until early production snags get ironed out. Even reports of a Cybertruck selling for $244k might not entice would-be flippers, given that Tesla has threatened and then followed through on punishing early owners who resell their trucks for profit.
Regardless, we might have expected Foundation Series to be done delivering by now, given that the truck has been out for months already, and given that these invites just went out today which means there are at least several more weeks of Foundation Series deliveries left to go (current order confirmations seem to be getting a March-May delivery timeline).
This is simultaneously a quicker and slower pace than previous Tesla rollouts. For the Model 3, Tesla’s first deliveries started in July of 2017, but those cars only went out to employees and the first big wave of deliveries to the general public only started in late December (that’s when we got ours).
Meanwhile, for the Tesla Semi, those seem to have seen effectively no deliveries since the first trucks were released in December 2022. We still haven’t seen any reports of Semis owned by anyone other than Pepsi or Frito-Lay, though Tesla said in October that about 70 trucks have been built – about double the amount we know are owned by PepsiCo.
But with Cybertruck, members of the general public did start receiving trucks within weeks of the delivery event – which is quicker than both of the above. Though months later, it seems like the delivery numbers may still be coming in a trickle, rather than a flood.
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EV sales kept up their momentum in December 2024, with incentives playing a big role, according to the latest Cox Automotive’s Kelley Blue Book report.
December’s strong EV sales saw an average transaction price (ATP) of $55,544, which helped push the industry-wide ATP higher, according to Kelley Blue Book. The December ATP for an EV was higher year-over-year by 0.8%, slightly below the industry average, and higher month-over-month by 1.1%. Tesla ATPs were higher year-over-year by 10.5%.
Incentives for EVs remained elevated in December, although they were slightly lower month-over-month at 14.3% of ATP, down from 14.7% in November.
EV incentives were higher by an impressive 41% year-over-year and have been above 12% of ATP for six consecutive months. Strong sales incentives, which averaged more than $6,700 per sale in 2024, were one reason EV sales surpassed 1.3 million units last year, according to Cox Automotive, a new record for volume and share.
(My colleague Jameson Dow reported yesterday, “In 2024, the world sold 3.5 million more EVs than it did in the previous year … This increase is larger than the 3.2 million increase in EV sales from the previous year – meaning that EV sales aren’t just up, but that the rate of growth is itself increasing.”)
Kelley Blue Book estimated that in December, approximately 84,000 vehicles – or 5.6% of total sales – transacted at prices higher than $80,000 – the highest volume ever. KBB lumps gas cars and EVs together into this luxury vehicle category, so this is where Tesla Cybertruck is slotted.
However, Tesla bundles sales figures of Cybertruck with Model S, Model X, and Tesla Semi(!) into a category it calls “other models,” so we don’t know for sure exactly how many Cybertrucks Tesla sold in Q4, much less in December. However, Electrek‘s Fred Lambert estimates between 9,000 and 12,000 Cybertrucks were sold in Q4, and that’s not a stellar sales figure.
What will January bring when it comes to EV ATPs? What about tax credits? Check back in a month and I’ll fill you in.
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Tesla is now claiming that Cybertruck was the ‘best-selling electric pickup in US’ last year despite not even reporting the number of deliveries.
There’s a lot of context needed here.
As we often highlighted, Tesla is sadly one of, if not the most, opaque automakers regarding sales reports.
Tesla doesn’t break down sales per model or even region.
For comparison, here’s Ford’s Q4 2024 sales report compared to Tesla’s:
You could argue that Tesla has fewer models than Ford, and that’s true, but Tesla’s report literally has two lines despite having six different models.
There’s no reason not to offer a complete breakdown like all other automakers other than trying to make it hard to verify the health of each vehicle program.
This has been the case with the Cybertruck. Tesla is bundling its Cybertruck deliveries with Model S, Model X, and Tesla Semi deliveries.
Despite this lack of disclosure, Tesla has been able to claim that the Cybertruck has become “the best-selling electric pickup truck” in the US in 2024:
It very well might be true. Ford disclosed 33,510 F-150 Lightning truck deliveries in the US in 2024 while most estimates are putting Cybertruck deliveries at around 40,000 units.
Those are global deliveries, but Tesla only delivered the Cybertruck in the US, Canada, and Mexico in 2024, and most of the deliveries are believed to be in the US.
However, there’s essential context needed here, as we highlighted in our recent ‘Tesla Cybertruck sales are disastrous‘ article.
First off, Tesla had a backlog of over 1 million reservations for the Cybertruck that it has been building since 2019. This led many to believe Tesla already had years of demand baked in for the truck and that production would be the constraint.
However, based on estimates, again, because Tesla refuses to disclose the data, Cybertruck deliveries were either flat or down in Q4 versus Q3 despite Tesla introducing cheaper versions of the vehicle and ramping up production.
Again, that’s after just about 40,000 deliveries.
Furthermore, with almost 11,000 deliveries in Q4 in the US, Ford more likely than not outsold Cybertruck with the F-150 Lightning in Q4.
Electrek’s Take
Tesla is in damage control here. There’s no doubt that it is having issues selling the Cybertruck.
Inventory is full of Cybertrucks and Tesla is now discounting them and offering free lifetime Supercharging.
Tesla is great at ramping up production, and it’s clear the Cybertruck is not production-constrained anymore. It is demand-constrained despite having over 1 million reservations.
Again, those reservations were made before Tesla unveiled the production version, which happened to have less range and cost significantly more.
The upcoming cheaper single motor version should help with demand, but I have serious doubts Tesla can ramp this program up to more than 100,000 units in the US.
As a reminder, Tesla installed a production capacity of 250,000 units annually and Musk said he could see Tesla selling 500,000 Cybertrucks per year.
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