Tesla (TSLA) Stock: Cybertruck Program Head Departs as Sales Continue to Struggle

TLDR

• Siddhant Awasthi, Tesla’s Cybertruck and Model 3 program lead, announced his departure after eight years with the company
• Cybertruck sales dropped 63% year-over-year in Q3 2025, with only 5,385 units sold in the US
• Year-to-date Cybertruck sales reached about 16,000 vehicles, down 38% compared to the same period last year
• Tesla stock rose 2.2% in premarket trading on Monday despite the executive departure and recent sales struggles
• Awasthi is the latest in a series of Tesla executive departures in 2025, including leaders from the Optimus, battery technology, and Dojo programs

Tesla shares moved higher in premarket trading Monday despite news that the company lost another key executive. Siddhant Awasthi announced his departure after eight years with the electric vehicle maker.

The stock rose 2.2% to $439.15 before regular trading hours. This came after two straight days of declines that saw shares drop more than 3% each session.

Tesla, Inc., TSLA

Awasthi led both the Cybertruck program and Model 3 program at Tesla. He started at the company as an intern before working his way up to a leadership position.

He thanked CEO Elon Musk and other Tesla leaders in his farewell message. The executive praised his colleagues and customers for keeping him motivated through intense workdays.

Sales Numbers Tell a Tough Story

The Cybertruck has underperformed since its launch. Tesla first unveiled the angular pickup truck in 2019 but didn’t begin deliveries until 2023.

Third quarter sales data shows the vehicle sold 5,385 units in the US. That represents a 63% drop compared to the same period last year.

Year-to-date sales reached about 16,000 vehicles through September. This marks a 38% decline from the previous year’s pace.

Musk had projected the Cybertruck could eventually reach production volumes of 200,000 to 250,000 units per year. Current sales numbers fall far short of those targets.

The vehicle accumulated hundreds of thousands of preorders before launch. Many of those customers have since canceled or not converted to actual purchases.

Wave of Executive Exits

Awasthi joins a growing list of departures from Tesla’s leadership ranks in 2025. Milan Kovac, who ran the Optimus humanoid robot program, left in June.

Omead Afshar, a top lieutenant to Musk, was reportedly fired in the summer. Troy Jones, vice president and head of North America sales, also exited during that period.

Vineet Mehta stepped down from his role as director of battery technology in April. Peter Bannon departed in August after Musk shut down the Dojo supercomputer project he led.

Quality Issues Compound Problems

The Cybertruck has faced 10 recalls in its first two years on the market. The most recent recall affected roughly 6,200 vehicles.

That recall stemmed from concerns about an optional light bar. The bar could potentially fly off because workers used the wrong adhesive to attach it.

Other recalls have addressed various safety and quality concerns. These issues have added to challenges in building customer confidence in the vehicle.

Tesla didn’t respond to requests for comment about Awasthi’s departure. The company has not announced a replacement for the role.

Despite recent stock declines, Tesla shares remain up about 34% over the past 12 months. The stock has gained roughly 6% year-to-date and climbed more than 30% over the past three months.

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