Registration data from S&P Global Mobility, reported by Bloomberg, shows that SpaceX purchased 1,279 Cybertrucks in Q4 2025, accounting for more than 18% of the 7,071 units registered in the U.S. that quarter.

Combined with 60 additional units bought by xAI, The Boring Company, and Neuralink, Musk-owned entities absorbed roughly 19% of all Cybertruck registrations between October and December.

The figures expose a sharper problem for Tesla's electric pickup. Without those inter-company purchases, Cybertruck registrations would have fallen 51% year-over-year in Q4 2025.

Industry analyst Sam Fiorani of AutoForecast Solutions told Bloomberg plainly: "Tesla is running out of buyers for the Cybertruck."

The buying pattern continued into 2026, with Musk-controlled companies acquiring 158 additional units in January and 67 in February, per Electrek's analysis.

Tesla sold just over 20,300 Cybertrucks in the full year 2025, a 48% decline from 2024 and only 8% of Musk's initial 250,000-unit annual projection. Q1 2026 deliveries hit 3,519 units, the lowest since launch, despite the February introduction of a cheaper $59,990 trim whose first deliveries are only scheduled for June.

The disclosures arrive as Tesla's board approved a new executive pay package for Musk tied to milestones including 20 million vehicle deliveries and 1 million robotaxi deployments. More context is available via Inside EVs.