Thomas Unise
Tesla’s financial performance continues to face challenges as EV tax incentives have disappeared and sales forecasts remain pessimistic for Q4. Despite these concerns, Tesla’s stock has surged nearly 50% over the past six months, highlighting the disconnect between the company’s $1.5 trillion market valuation and its core business performance.
SpaceX’s Suspicious Cybertruck Purchase
According to an insider source reported by Electrek, Elon Musk’s space company SpaceX has purchased over 1,000 Cybertrucks from Tesla, with potential plans to increase that number to 2,000. This transaction, worth more than $100 million, raises questions about legitimate business needs and appears designed to artificially boost Tesla’s sales figures.
A viral video on X (formerly Twitter) shows numerous Cybertrucks parked at SpaceX’s South Texas facilities, fueling speculation about the purpose of this large purchase.
Cybertruck’s Commercial Struggles
The Cybertruck has significantly underperformed compared to Musk’s ambitious projections of 250,000-500,000 annual sales. Q3 data revealed just 5,385 Cybertrucks sold in the US, representing a dramatic 62% drop year-over-year. The vehicle has also faced eight recalls for design issues and criticism for its lower-than-promised range and higher-than-advertised price.
Despite these setbacks, Musk continues to praise the Cybertruck as an “incredible vehicle” and “our best ever from Tesla.”
Tesla’s Broader Business Challenges
Tesla’s core automotive business faces multiple headwinds. US sales dropped to a nearly four-year low in November 2023, with even a cheaper Model Y version failing to reverse declining sales trends. Musk’s embrace of far-right ideologies has reportedly alienated potential customers.
The company also faces regulatory challenges, including a potential 30-day car sales ban in California for misleading marketing of its driver assistance technology as “Autopilot,” despite requiring constant driver supervision.
Meanwhile, Musk appears to be shifting Tesla’s focus away from traditional vehicles toward robotaxis and humanoid robots.
Conclusion
Tesla’s current business trajectory shows concerning signs despite its soaring stock price. The apparent purchase of Cybertrucks by SpaceX suggests potential manipulation of sales figures to mask broader challenges. As Tesla pivots toward new technologies, questions remain about the company’s core automotive business sustainability and the disconnect between its market valuation and actual performance.
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