00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Tesla Inc. has canceled plans to sell its Cybertruck in Australia and New Zealand
00:07amid weak demand and declining deliveries of the electric pickup.
00:12According to Electrek, Tesla notified reservation holders
00:15that their orders would be canceled and payments refunded.
00:19Customers who purchase a new Model Y or Model 3
00:22will also receive a free one-year full self-driving subscription.
00:26The cancellations followed Tesla's third-quarter earnings report,
00:30which showed Cybertruck deliveries likely fell below 8,000 units.
00:34Annual deliveries are estimated at 28,000 to 32,000 vehicles,
00:39compared with the company's annual production capacity of 125,000 at its Texas factory.
00:46The Cybertruck's performance has fallen short of CEO Elon Musk's original projections.
00:51For all things money, visit Benzinga.com.
