Elon Musk says Tesla must refund Cybertruck deposits to ‘a lot of people’; he touted 250K reservations back in 2019

Tesla will likely need to refund a significant number of Cybertruck pre-order deposits, according to CEO Elon Musk. This statement comes years after the electric truck's initial unveiling in 2019, when Musk claimed the company had secured 250,000 reservations. The deposits, which were reportedly $100, represented a commitment from potential buyers at the time of reservation.

The need for widespread refunds suggests a considerable gap between initial interest and current purchase decisions. This could stem from various factors, including the prolonged production delay, changes in the automotive market, or the vehicle's final specifications and pricing, which were not fully detailed until recently. The refunds will impact Tesla's financial reporting and its ability to gauge true demand for the Cybertruck moving forward.