Tesla Achieves Positive Gross Margin for Cybertruck for the First Time

Tesla’s Cybertruck achieved a positive gross margin for the first time and is now the third best-selling EV in the U.S., behind the Model Y and Model 3. The company has an annual production capacity of 125,000 units for the model and has recently started selling non-Foundation series vehicles. Despite not disclosing sales figures, Tesla stated that Cybertruck production has increased sequentially. The vehicle now includes features such as “Actually Smart Summon” and Full Self-Driving (FSD) functionality. Tesla began deliveries of the Cybertruck in November 2023, with deliveries in Canada expected soon after. The company also reported stronger than expected third quarter earnings results and anticipates a slight growth in vehicle deliveries this year.