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Elon Musk’s SpaceX has stepped in as a significant buyer of Tesla’s Cybertruck, purchasing nearly one in five units sold in the United States during the last quarter of 2025. This unusual crossover between Musk’s ventures comes at a time when Tesla faces substantial challenges in maintaining its market position, as registration data reveals a troubling trend in Cybertruck sales.
SpaceX’s Investment in Cybertrucks
According to recent registration data from S&P Global Mobility, SpaceX has acquired approximately 20% of all Cybertrucks sold in the US during Q4 2025, amounting to over $100 million (£74 million) in purchases. This investment underscores SpaceX’s commitment to utilising electric vehicles, likely for operational purposes given the company’s ambitious goals in the aerospace sector.
Despite SpaceX’s support, the overall sales figures for the Cybertruck have not been encouraging. Without SpaceX’s contributions, Tesla’s registrations for the Cybertruck would have plummeted by a staggering 51% in the same quarter, highlighting the extent of the decline in consumer interest.
Tesla’s Struggles in the EV Market
Tesla recently lost its status as the world’s top electric vehicle manufacturer, overtaken by China’s BYD, which has made significant technological advancements. The past two years have seen Tesla’s sales decline for the first time in over a decade, a stark contrast to the growth trajectory that had previously defined the company.
In 2025, BYD unveiled groundbreaking battery technology that allows for charging times comparable to refuelling a petrol vehicle, a development long considered the “holy grail” of electric vehicles. This innovation positions BYD ahead of Tesla in the race for market dominance, as the latter struggles to keep pace with changing consumer preferences and technological expectations.
The Impact of Controversy on Tesla’s Reputation
Tesla’s challenges have been compounded by boycotts linked to Musk’s vocal support for controversial political figures, including former US President Donald Trump. A recent Axios Harris ranking placed Tesla at the bottom for ‘character’ among America’s 100 most visible companies, with low scores for ‘ethics’ and ‘citizenship’ as well. This negative perception has undoubtedly influenced consumer behaviour, particularly towards the Cybertruck, which has garnered disparaging nicknames like ‘MAGAmobile’ and ‘Deplorean’.
Prior to the Cybertruck’s official launch in 2023, Musk had optimistically predicted annual sales of 250,000 units by 2025. The reality, however, fell short, with just over 20,000 units sold last year—a significant drop from the 38,965 sold in 2024.
The Future of the Cybertruck
The Cybertruck’s polarising design and Musk’s controversial public persona have made it a difficult product to market. As Tesla navigates this turbulent period, it must contend with not only internal challenges but also external pressures from competitors who are becoming increasingly adept at capturing market share.
While SpaceX’s purchases provide a temporary lifeline for Tesla, the long-term viability of the Cybertruck and Tesla’s overall strategy in the electric vehicle market remain uncertain. The interplay between Musk’s ventures may offer short-term benefits, but it does little to address the fundamental issues at play in Tesla’s business model.
Why it Matters
The dynamics of SpaceX’s involvement in Tesla’s Cybertruck sales highlight the complexities of the electric vehicle market and the impact of personal branding on business performance. As Tesla grapples with declining sales and reputational challenges, the company’s ability to innovate and adapt to shifting consumer expectations will be crucial for its survival. The future of the Cybertruck, and indeed Tesla’s position in the EV landscape, depends on how well it can navigate these multifaceted challenges while regaining consumer trust and market confidence.
