After slumping in the second quarter, Tesla's Cybertruck has now reached two years of sales slump, TechCrunch senior transportation reporter Sean O'Kane wrote on Wednesday.
Tesla has struggled with sales across the board, the Washington Post reported Wednesday. However, O'Kane noted that the Cybertruck sales are particularly low.
"Tesla delivered 384,122 vehicles in the second quarter of this year, wrapping up another weak quarter for the company as it struggles to bring the pace of sales back up to 2023 levels," the report said, citing a press release from the company.
It's a 13.5% decrease from overall Tesla sales in the second quarter of 2022. The Cybertruck wasn't released until November 30, 2023, however.
"Tesla runs a real chance of underperforming its total sales figure from 2024. If that happens, it would mean Tesla’s sales will have fallen two years in a row — despite the company once promoting the ability to grow deliveries at 50% annually," O'Kane wrote.
The second quarter was slightly better than the first quarter of the year, but the first quarter was the worst ever in the past two years.
According to Musk, the bad first quarter was attributed to production lines being shut down as they launched the upgraded Model Y. That didn't happen in the second quarter, however, and sales remained in a slump.
In fact, Business Insider reported in May that some of the staffers working on the Cybertruck and Model Y were instructed to stay home, according to O'Kane.
However, Musk told Bloomberg in a May interview that sales were "strong everywhere else" except for Europe. He also confessed that Tesla “lost some sales from the left,” but claimed the company "gained some from the right."
“If Musk continues to lead and remain in the driver’s seat, we believe Tesla is on a path to an accelerated growth path over the coming years with deliveries expected to ramp in the back-half of 2025 following the Model Y refresh cycle,” Wedbush Securities analyst Dan Ives told The Washington Post.
"Hard to see the Cybertruck as anything other than a commercial failure at this point," O'Kane wrote on Bluesky.
