In the annals of Tesla's meteoric rise, 2019 marked a pinnacle. The electric vehicle (EV) giant boasted high-volume sales, premium prices, and a 50% growth in deliveries, achieving annual revenue of $24.5 billion. However, amidst this success, the company announced its groundbreaking venture into the world of light/pickup trucks—the Cybertruck.

Originally slated for delivery in 2021, the Cybertruck encountered numerous setbacks, including weight issues impacting battery range and escalating costs of bulletproof glass, now offered as an add-on. November 30, 2023, finally heralds the commencement of Cybertruck deliveries, making 2024 its inaugural full production year.

Tesla, transitioning from a disruptive force to an incumbent protecting sales and profit margins, underwent rapid expansion with gigafactories in Shanghai, Berlin, and Austin. Expecting to sell 1.8 million vehicles in 2023, doubling 2021 sales, Tesla faces distinct challenges in China, Europe, and the US.

In China, dynamic pricing tactics helped boost unit sales, yet Tesla trails Shenzhen-based BYD in EV market share. Europe witnesses Tesla balancing volume and premium pricing but cutting prices in 2023. The challenge lies in sustaining exclusivity amid higher production.

In the US, the Cybertruck is pivotal. Tesla's strategic price reductions indicate a competitive market. However, despite a 26% YoY increase in unit sales, Tesla's US market share has dipped from 67% to 57%. The US pick-up segment, vital for Tesla's premium brand positioning, faces formidable competition from traditional giants like Ford, GM, and Stellantis.

The Cybertruck's success is critical for Tesla's future. With 2 million reservations, it aims to produce 200,000 units in 2024, potentially reaching 250,000 in 2025. However, concerns arise from reported quality issues in early pre-production models, reminiscent of historic industry missteps.

As the Cybertruck becomes Tesla's flagship, the company's ability to maintain volume with premium pricing will be tested. With the EV market evolving and competitors like Rivian, Ford, GM, and others entering the electric pick-up arena, Tesla must ensure the Cybertruck's success to sustain its leadership and navigate an ever-changing automotive landscape.