Tesla shares gained in premarket trading as the company had a backlog of over 1.2 million Cybertruck reservations worth over $80 billion

Tesla shares gained in premarket trading as the company had a backlog of over 1.2 million Cybertruck reservations worth over $80 billion. 

Based on the latest tally, Tesla has a backlog of over 1.2 million Cybertruck reservations worth over $80 billion.

But there’s still no production in sight.

Tesla unveiled the Cybertruck almost two years ago to the day.

The electric pickup truck was supposed to be in production already, but the automaker delayed the program as it focused on growing Model Y production.

Tesla’s best estimate now puts the start of Cybertruck production in late 2022.

In the meantime, Tesla is still taking reservations for the electric pickup truck.

The Cybertruck reservation program has been quite successful.

CEO Elon Musk announced that Tesla received over 250,000 reservations for the Cybertruck within a week of unveiling the vehicle.

Generally, Tesla receives a lot of reservations early after an unveiling, and then it tapers off — but that wasn’t the case with the Cybertruck.

Even throughout the pandemic, sources told us that some Tesla stores were getting hundreds of Cybertruck reservations per week, and Cybertruck pre-orders even helped boost sales.

The number was last updated in June 2020, and at that point, the number had risen to over 650,000 Cybertruck reservations.

A crowdsourced Cybertruck reservation tally by the Cybertruck forum with over 28,000 entries put reservations at over 1 million back in May 2021.

Now the tally estimates that Tesla has over 1,270,000 reservations for the electric pickup truck.