Elon Musk Says Tesla Will Have to Return Cybertruck Deposits to 'A Lot of People,' Rejects Unprofitability Reports Shomik Sen Bhattacharjee Tue, November 10, 2026 at 10:30 AM EST 5 min read TSLA -0.65% Trade Tesla on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
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Tesla Inc. CEO Elon Musk said the automaker will refund Cybertruck deposits to many customers as it prepares to wind down production of the electric pickup, rejecting reports that the decision stems from unprofitability.
"The Cybertruck order rate far exceeds our production rate," Musk clarified in an X post early Monday. "We will try to make as many as possible before shutting down the line in about 8 months, but will have to return deposits for a lot of people."
The Cybertruck order rate far exceeds our production rate. We will try to make as many as possible before shutting down the line in about 8 months, but will have to return deposits for a lot of people.This is not a case of Cybertruck being unprofitable, as has been misreported… https://t.co/rGmNKV3ILs
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"This is not a case of Cybertruck being unprofitable, as has been misreported by legacy media," Musk said, arguing that manufacturing complexity created an opportunity cost "vastly outweighed by the value of incremental Cybercab production."
His remarks followed Tesla's November 6 announcement that Cybertruck production would end around mid-2027, freeing manufacturing capacity at Gigafactory Texas for its autonomous robotaxi. Reuters reported the decision that day.
Musk's comments followed his Saturday announcement that Tesla would add another production shift to fulfill outstanding Cybertruck orders before dismantling the assembly line for Cybercab expansion.
However, the pickup's commercial performance has fallen short of earlier expectations. According to Kelley Blue Book figures, U.S. Cybertruck sales declined 48% to 20,237 vehicles in 2025, compared with Musk's earlier annual target of 250,000.
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The Cybertruck's stainless-steel construction, 48-volt electrical architecture and steer-by-wire technology require specialized manufacturing processes, according to Tesla's published specifications. The company now intends to prioritize Cybercab, a purpose-built autonomous vehicle without conventional driving controls.
Tesla has already begun expanding Cybercab operations, although regulatory approvals remain a challenge, with federal regulators reviewing Cybercab's compliance with vehicle safety standards.
Musk has not disclosed how many Cybertruck reservations remain unfulfilled or how much Tesla expects to refund.
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