Tesla Shares Rise 4.93% as Company Plans to Cut Cybertruck Output by Mid-2027
Key Facts
Tesla shares rose 4.93% to $360.62 in a market snapshot on November 6, 2026, after Elon Musk said the company would cut Cybertruck production at its Texas factory around mid-2027. Musk said the space would be made available to increase production of the autonomous Cybercab. The announcement sets a specific industrial target for shifting from the truck to the self-driving vehicle, but does not resolve whether Tesla will move Cybertruck production to another site or end it entirely. Reuters said the Austin factory is the only facility known to the agency to be equipped to produce the truck’s specialized components. The decision marks a major retreat from one of Musk’s favorite projects, as Reuters described it.
The move comes after Cybertruck sales in the United States fell to 20,237 trucks last year, according to a Kelley Blue Book estimate cited by Reuters. That represents a 48% decline from 38,965 trucks in 2024. Near the start of production in 2023, Musk had forecast annual sales of 250,000 units. The comparison shows the widening gap between the earlier forecast and the sales volume later recorded, as the company moves to dedicate more production space to Cybercab. Kelley Blue Book also estimated that truck sales fell 28% between January and September 2026, according to AP.
Weak demand is not confined to the Cybertruck; auto analyst Felipe Munoz said electric trucks from Ford and other companies had also struggled in the U.S. market. Munoz attributed this to electric trucks’ lack of popularity in the United States. The Cybertruck also faces limits on expansion beyond the U.S. market: Reuters noted that its angular steel design limits its prospects for adoption in Europe because of pedestrian-protection rules. Since sales began in late 2023, Tesla has issued 11 recalls for the truck, according to National Highway Traffic Safety Administration data cited by Reuters. These factors provide context for the model’s production cut, while the announcement concerns a reduction in output and does not determine the ultimate fate of its production.
By contrast, the Cybercab remains in limited operation, despite Tesla listing installed production capacity of more than 125,000 units, according to Reuters. The company began offering paid rides with a limited number of vehicles in Austin in September 2026. The National Highway Traffic Safety Administration has also opened a review into the basis for the vehicle’s certification of compliance with federal safety standards. In Texas, about 570 of the more than 1,200 vehicles in Tesla’s robotaxi fleet were Cybercabs at the time of Reuters’ report. The gap between listed production capacity and the reported scale of operations reflects the distance between nominal capacity and current fleet deployment, without by itself proving that broad commercial sales have been achieved.
Tesla aims to deliver the Cybercab to customers by the end of 2026, according to the company’s vice president of vehicle engineering, who said the rollout would start small and then expand. But the timeline is also tied to regulatory compliance: the National Highway Traffic Safety Administration said existing rules, written decades ago for human-driven vehicles, require manual controls and limit commercial deployment of vehicles designed without them. In Tesla’s second-quarter 2026 update, total paid miles for the robotaxi fleet stood at about 2,440,000 miles in June. These figures provide context for the company’s bet on the vehicle amid the safety review and the service’s continued limited scope. Musk had described the Cybertruck as "the best vehicle Tesla has ever made" and the decision to cut its production as "the end of an era."