Tesla Cybertruck sales were inflated by a SpaceX buying spree

Tesla is under increasing pressure to reverse slumping sales across its lineup as it faces the prospect of a third straight annual decline. Once the undisputed electric vehicle leader, the company was surpassed by China's BYD Co. as the world's top seller of EVs last year.

Investors have largely overlooked Tesla's declining auto sales as Musk reorients the company around futuristic pursuits including robotaxis and humanoid robots. But those products are still a ways off from becoming tangible business lines, and shareholders' patience appears to be wearing thin. Since hitting a record high in mid-December, Tesla's stock has lost a fifth of its value.