Morningstar

Tesla Shares Up After Musk Says Cybertruck Production Will Wind Down

Provided by Dow Jones Nov 6, 2026, 4:45:00 PM

By Natalie Weger

Shares of Tesla rose after Chief Executive Elon Musk said the company will wind down production of its Cybertruck.

The stock ticked up 4.4% to $358.80 on Friday. Shares are down 20% year to date.

The company plans to decrease production of the Cybertruck at its gigafactory in Texas next year, Musk said in a post on X. The move will help make room for increased production of the company's self-driving Cybercab, he said.

The wind-down comes as the stainless-steel pickup has faced weak demand, with 1,914 Cybertrucks registered in the U.S. in October, according to data from Motor Intelligence. Musk had revealed a prototype for the vehicle in 2019, telling investors that it would be the company's "best product ever."

Write to Natalie Weger at natalie.weger@wsj.com.

(END) Dow Jones Newswires

November 06, 2026 11:45 ET (16:45 GMT)

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