Tesla says the Cybertruck is already profitable [Video]

Less than a year after the first deliveries, Tesla’s Cybertruck is turning a profit, the company said in its earnings report Wednesday.

The production ramp also appears to be on track, with the company reporting a sequential increase in Cybertruck output at the Texas Gigafactory.

Reaching profitability in under a year is a big deal for Elon Musk as he enters the blood sport of American pickup truck sales.

The first Cybertrucks were delivered in November of 2023 at a launch event for the long-awaited electric truck. Initial reactions from Cybertruck order holders were tepid, as many were disappointed in the higher price than originally promised.

Tesla recently started taking orders for a $74,490 all-wheel drive version, but sales included in the third-quarter results would have been the more expensive Foundation Series, which was initially the only model available. This trim level ranges in price from $99,990 to $119,990.

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