Tesla’s Cybertruck deliveries fell short of expectations, with only 35,000-40,000 units delivered in 2023, despite 2 million initial orders. Bernstein analysts question the vehicle’s viability, citing low profitability and niche demand. The analysts also predict Tesla’s auto gross margins will drop below 15% and forecast a decline in annual earnings from $2.60 in 2023 to $2.10 in 2024. Additionally, they express skepticism about Tesla’s robotaxi progress, citing limited sensor capabilities and regulatory hurdles.
