Musk Says Cybertruck Is Profitable — Explains Cancellation and Deposit Refunds

Elon Musk has clarified that Tesla is not ending the Cybertruck because it loses money, pushing back against reports that the electric pickup was unprofitable. "This is not a case of Cybertruck being unprofitable, as has been misreported by legacy media," Musk wrote on X on November 9.

Instead, he said the opportunity cost of the Cybertruck's complexity "is vastly outweighed by the value of incremental Cybercab production." The announcement comes days after Tesla confirmed it will wind down Cybertruck production at Giga Texas around mid-2027 to free up factory space for the Cybercab robotaxi.

More orders than Tesla can build

Musk also said that "the Cybertruck order rate far exceeds our production rate." Tesla will build as many trucks as it can before the line shuts down in about eight months, but it "will have to return deposits for a lot of people." The company has already added an extra shift at Giga Texas to try and clear the backlog before the line is dismantled.

That matches what Musk said a few days earlier, when he announced Tesla would add an extra Cybertruck shift to work through the backlog before the line is torn down around June or July 2027. Tesla also recently raised Cybertruck prices by up to 9 percent and paused new orders for the base Dual Motor AWD trim, likely because it cannot fill the orders it already has.

Why not just build another factory?

When asked why Tesla doesn't simply build more factory space, Musk replied that building a high-volume factory is extremely difficult, adding that "prototypes are trivial by comparison." He also noted that Tesla has a limited number of skilled engineers, and keeping the Cybertruck going means tying up people, factory space, and equipment that could be scaling Cybercab production instead.

What it means for Canadian buyers

The Cybertruck remains available to order in Canada, with the Premium AWD starting at C$139,990 and the Cyberbeast at C$167,990. However, with the base Dual Motor AWD trim now paused in the U.S. configurator and production winding down by mid-2027, Canadian buyers who have placed orders should monitor their delivery timelines closely. The next eight months will determine whether they receive a truck or a refund.

Existing Cybertruck owners will still get parts and service after production ends. For anyone still waiting on an order, the next eight months will decide whether they get a truck or a refund.

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