Tesla’s Cybertruck, which ranked as the third best-selling EV in the U.S. during the third quarter, trailing only the Model Y and Model 3, achieved a positive gross margin for the first time.
The company currently has an annual production capacity of 125,000 units for the model and has recently started selling non-Foundation series vehicles.
Despite not revealing the sales figures for the model, Tesla said in its third quarter shareholder deck, that Cybertruck production “increased sequentially and achieved a positive gross margin for the first time.”
Tesla recently rolled out its “Actually Smart Summon” feature to Cybertruck customers, allowing the vehicle to autonomously drive to the owner in parking lots.
The model also now includes Full Self-Driving (FSD) functionality (Supervised), with end-to-end neural networks for highway driving introduced for the first time.
Tesla began deliveries of the Cybertruck in November 2023, four years after the vehicle’s unveiling in Los Angeles. Deliveries in Canada are expected soon, following the opening of orders in early August.
The Monroney sticker in an image shared by Tesla lists a sale price of $168,740 CAD, or approximately $122,100 USD. The trim featured is the Cyberbeast Foundation Series, the first available in any market, including Canada.
Additionally, the company said that the preparation of the Semi factory “continues” and “remains on track with builds scheduled to start by the end of 2025”.
Tesla reported on Wednesday stronger than expected third quarter earnings results.
Despite not unveiling a specific number, the company led by Elon Musk said it expects a “slight growth” in vehicle deliveries this year. In 2023, Tesla delivered 1.81 million vehicles, up 38% from the year before.
Tesla delivered 462,890 vehicles in the third quarter taking its year to date deliveries to about 1.29 million units.
