Tesla’s futuristic Cybertruck was once pitched as a game-changing product that would reshape the pickup market.

Instead, fresh reports suggest the controversial EV is facing a serious demand problem, with sales falling sharply despite years of hype.

Now, according to new registration data, one of the biggest buyers of Cybertrucks isn’t the public at all. Nope, it’s SpaceX, another company controlled by Elon Musk.

The revelation adds another twist to a vehicle launch that has struggled to meet the lofty expectations Musk once set.

Registration figures from S&P Global Mobility, first reported by Bloomberg, indicate that nearly one in five Cybertrucks sold in the United States during the fourth quarter of 2025 were registered to SpaceX.

That suggests Musk’s rocket company may have spent more than $100 million acquiring Tesla’s stainless-steel pickups.

While fleet purchases are common in business, the optics are notable given that Tesla and SpaceX share the same high-profile leader.

Even with SpaceX helping absorb inventory, Cybertruck sales reportedly still declined during the quarter.

Without those registrations, Cybertruck sales would have dropped by an estimated 51 percent in Q4, according to the report.

That is a long way from Musk’s earlier prediction that Tesla would eventually sell 250,000 Cybertrucks annually.

Instead, reports say actual 2025 sales totaled just over 20,000 units, down significantly from roughly 38,965 units in 2024.

The Cybertruck has attracted enormous attention since launch, but not always for the right reasons.

Its radical styling, delayed rollout, pricing debates, recalls, and culture-war symbolism have made it one of the most divisive vehicles on sale today.

Supporters see it as bold and futuristic. Critics see it as impractical and overhyped.

Either way, controversy does not always translate into sustained sales.

Tesla’s broader challenges extend beyond one truck.

The company has reportedly faced slowing growth, rising competition from BYD, and increasing scrutiny around Musk’s political activity and leadership focus.

As rivals improve EV technology and pricing, Tesla no longer enjoys the clear first-mover advantage it once had.

Fleet purchases from SpaceX may help move units in the short term.

However, the real question is whether everyday buyers still want the Cybertruck in meaningful numbers.

Because if internal demand support is needed this early, Tesla may have a much bigger problem than excess inventory.

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