The Tesla Inc (NASDAQ:TSLA) Cybertruck has significantly underperformed compared to initial projections set by CEO Elon Musk. Recent quarterly results show dismal numbers, and things could get worse for the company's unique-looking electric pickup truck.
Tesla Cancels Cybertruck Orders
The Cybertruck was only available for residents of the U.S. for many years. Consumers in other markets who wanted the EV truck have had to reserve their place in line for the eventual launch in more international territories.
Excited reservation holders in Australia and New Zealand recently had their hopes crushed.
The EV company has canceled selling the vehicle in those two countries, sending out emails to let reservation holders know that they will be refunded, as reported by Electrek.
Dating back to 2019, residents in the country could reserve a Cybertruck with 150 Australian Dollars.
"After careful consideration, plans to produce Cybertruck for Australia and New Zealand have been discontinued. As a result, we're unable to fulfill your reservation and it will be cancelled," an email reads, according to the report.
Along with a refund of any payments made, reservation holders in the countries are being offered a free one-year subscription for FSD if they buy a new Model Y or Model 3.
What's Next for Cybertruck?
Tesla emailed residents in Australia and New Zealand a day after the company reported third-quarter financial results. While that timing could have been coincidental, it also begs the question of if it was done to try and bury the news.
Australia has been a strong market for Tesla vehicles in 2026, but those vehicles are made in China and ship faster than a Cybertruck from Texas.
Tesla's Gigafactory Texas is the only place currently making Cybertrucks and the numbers are dwindling.
Benzinga recently shared that third-quarter delivery data showed that the most Cybertrucks sold in the third quarter could have been 8,295, with the number more likely to be under 8,000.
With annual deliveries of 28,000 to 32,000 Cybertrucks, the vehicle is not living up to Musk's original goals. The vehicle is also taking up space at the Texas factory.
Tesla already ended production of the Model S and Model X to free up production capacity for the Optimus Bot and Cybertrucks.
Texas is currently listed as having capacity to make 125,000 Cybertrucks a year, along with making Model Y and Cybercab vehicles. The factory is also listed as being under construction for Optimus production.
For Tesla, ending Cybertruck production could make sense given muted demand and the inability to make it cost-effective enough to expand into international markets.