Tesla's Cybertruck Sales Inflated by 51% Due to Elon Musk's Inter-Company Purchases

Tesla's Cybertruck sales were artificially inflated by 51% due to purchases by Elon Musk's other companies, particularly SpaceX. Data confirms that SpaceX bought 1,279 Cybertrucks in Q4, making up 18% of all US Cybertruck registrations that quarter.

New data from Electrek reveals that SpaceX purchased 1,279 Cybertrucks in Q4, representing 18% of all US Cybertruck registrations during the quarter . The inter-company purchase between TSLA and SpaceX, both controlled by Elon Musk, effectively inflated year-over-year Cybertruck sales figures by 51%, masking what would have been an organic decline in consumer demand.

The practice of related-party vehicle purchases raises questions about the accuracy of Tesla's reported sales metrics as a measure of genuine market demand. While Tesla does not break out sales by customer type, the data suggests that standalone retail demand for the Cybertruck fell meaningfully short of headline figures, a concern for investors evaluating the product's commercial viability .

This disclosure compounds existing skepticism around Cybertruck's market performance, which has faced criticism over build quality issues, significant price changes since initial reservations were placed, and narrower consumer appeal relative to Tesla's mass-market Model 3 and Model Y. With Elon Musk's attention split across multiple ventures, governance concerns around related-party transactions are likely to receive renewed investor attention heading into the next quarterly report.