Tesla now has ready-to-deliver Cybertruck inventory, demand issues?
Tesla is now offering ready-to-deliver Cybertrucks in its new vehicle inventory as it clearly isn’t working with a reservation backlog anymore.
Despite its polarizing nature, we have often noted that we can’t deny the Cybertruck is popular considering the fact that Tesla had over 1 million reservations for the vehicle.
However, we had some doubts about how serious were those potential buyers as Tesla lowered the deposit to just $100 for the first time with the Cybertruck program.
On top of the shakiness of the buying commitment, the fact that the production version of the Cybertruck was much more expensive and has less range than what Tesla originally announced has certainly affected the size of the backlog.
We recently reported that Tesla appears to have exhausted its US Cybertruck backlog as someone without a reservation can place a new order and take deliver within roughly a week.
Tesla also started deliveries in Mexico and Canada to help work through its increasing production capacity.
Now, we get our best example yet to show that the backlog is exhausted: Cybertrucks are now available in Tesla’s new vehicle inventory:
Right now, there are only Foundation Series Cybertruck, but some have spotted regular Cybertrucks as well. Both Dual Motor and Cyberbeast configurations are available for immediate delivery.
When a new Tesla vehicle program is offered in new inventory, it’s generally means that Tesla doesn’t have any backlog of orders for it anymore.
It looks like Tesla got there with about only ~50,000 or so deliveries in the US.
Electrek’s Take
I think Tesla is going to have a hard time selling 250,000 Cybertrucks per year, which has been the planned production capacity.
There’s still the $60,000 model coming next year, but all the reservation tally showed the base one as being the least popular one. However, that has likely changed with the price increase.
If Tesla is already having inventory build-ups for the vehicle after only delivering about 50,000 units and having built up reservations and orders for years, it could quickly prove difficult.
I wouldn’t be surprised if Tesla starts to offer discounts on the Cybertruck in the coming months.
Tesla said that it achieved positive gross margins on the Cybertruck in Q3. Therefore, one could argue that Tesla can afford to reduce prices, but I think the positive gross margin was mostly due to Foundation Series deliveries and Tesla appear to have focused on the more expensive tri-motor version in Q3.
It’s not impossible to see the program going back into negative gross margins in Q4 with the $20,000 cheaper non-Foundation Series version.
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Environment
U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)
What’s going on in Illinois?
While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.
SOURCES: Chicago Business, Ray Cunningham; featured image by the author.
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The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
SOURCE | IMAGES: XCMG.
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