ClaimsElon Musk

“for 2023, Cybertruck will not be a significant contributor to the bottom line, but it will be next year.”

Elon Musk, Tesla CEO 26 January 2023 Tesla Q4 2022 Earnings Call Transcript (Motley Fool) archived copy

Prediction Their own work or organisation

Cybertruck will not be a significant contributor to Tesla's bottom line in 2023 but will be in 2024.

Mostly false False in substance, right in a detail.

Prediction: Statements about events outside the person's control, checked once they fell due: did they come true?

The second judge would not resolve this claim; the verdict shown is the first judge's.

Said for an organisation they lead or work for; it counts on both records.

What would count as true or false

There are two parts. (a) The Cybertruck was not a significant contributor to Tesla's profit in 2023. (b) It was a significant one in 2024, meaning it made a material positive contribution to Tesla's profit, not just revenue or deliveries. Part (b) is the substantive prediction. TRUE: (a) holds, and Tesla filings, shareholder updates or earnings calls show the Cybertruck had positive gross margin and made a meaningful positive profit contribution in 2024, for example by being cited as a profit or margin driver. MOSTLY TRUE: both parts hold, but the 2024 contribution was modest or reached only late in the year. MOSTLY FALSE: (a) holds but (b) fails only in part, for example the Cybertruck reached break-even or slightly positive gross margin but was not a significant contributor. FALSE: (a) holds but in 2024 the Cybertruck lost money or was described as a drag on margins.

Set before the research began.

Evidence (3)

  1. E1 Tesla shares take off on strong earnings as Cybertruck makes a profit Euronews · 24 October 2024

    “In its earnings report, Tesla noted: "Cybertruck production increased sequentially and achieved a positive gross margin for the first time."”
  2. E2 Elon Musk warns Cybertruck won't be profitable until 2025 | TechCrunch TechCrunch · 18 October 2023

    “Musk estimated that it will take about 18 months until the Cybertruck is cash flow positive.”
  3. E3 Tesla Prepares Investors For Its Gap Year Heatmap · 24 January 2024

    “The company also flagged that the continuing rollout of the Cybertruck, which launched late last year, weighed on its profits.”

Reasoning

Part (a) holds: Heatmap reported that Tesla said the Cybertruck rollout, which launched in late 2023, weighed on its profits (E3). For part (b), Tesla's Q3 2024 earnings report said the Cybertruck "achieved a positive gross margin for the first time" (E1). That means its gross margin was not positive before that quarter. None of the evidence shows the Cybertruck making a meaningful profit contribution in 2024 or being named as a profit or margin driver. This matches the criteria's mostly-false case: a positive gross margin was reached late in the year, but the truck was not shown to be a significant contributor.

Cite this claim

Elon Musk, “Cybertruck will not be a significant contributor to Tesla's bottom line in 2023 but will be in 2024.” (said 26 January 2023). Verdict: mostly false. Reliability API, claim c_6eaca1c1e0f2, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_6eaca1c1e0f2

This claim is in dataset release v1.1.2, with the same verdict.

Reply to this claim

For Elon Musk, or someone speaking for them: a correction or counter-evidence. Replies are read before anything is shown; an approved reply shows your name, role, date, statement and link. Your email address is never shown and is deleted 30 days after the decision (privacy).

More prediction claims by Elon Musk

  1. Mostly false Prediction 30 December 2024
    “AfD is going to win an epic victory!”

    The AfD party will win a big victory in Germany's upcoming election.

  2. Mostly false Prediction 26 January 2023
    “Hardware 3 will not be as good as Hardware 4, but I'm confident that Hardware 3 will so far exceed the average -- the safety of the average human.”

    Hardware 3 will far exceed the safety of the average human driver, though not be as good as Hardware 4.

  3. Mostly true Prediction 26 January 2023
    “if it's a smooth year, actually, without some big supply chain interruption or massive problem, we actually have the potential to do 2 million cars this year.”

    If 2023 has no major supply chain interruption, Tesla has the potential to produce 2 million cars in 2023.

  4. Mostly true Prediction 26 January 2023
    “So we think demand will be good despite probably a contraction in the automotive market as a whole.”

    Tesla thinks demand for its vehicles will be good despite a probable contraction in the overall automotive market.

  5. Mixed Prediction 27 January 2022
    “Batteries will probably not be the limiting factor in Cybertruck production.”

    Batteries will probably not be the limiting factor in Cybertruck production.

All of them

Verdicts are made automatically; how verdicts are made.