


Tesla Cybertrucks gathering dust at Tesla Motors dealership in California, December 6, 2024. (Photo ... [+]
Tesla is throwing discounts at its Cybertruck—up to $6,000—as inventories for the controversial electric truck pile up in Canada and the U.S. Last year was the vehicle’s first full year of production, after long delays, and the Cybertruck did not sell as expected. And Elon Musk’s recent antics in Washington, D.C. are only helping to further alienate customers.
Even $6000 discounts aren't drawing buyers into showrooms. (Photo by Chesnot/Getty Images)
Once hailed as a groundbreaking pickup, Tesla’s futuristic Cybertruck is now facing an increasingly complicated sales struggle. Outside the factory, a sizable and expanding stock of unsold Cybertrucks is collecting dust, forcing Tesla to slap on further discounts. In fact, the Cybertruck's long-term sustainability is being called into question by these latest developments.
The recently launched 2025 Cybertruck is now eligible for the $7,500 federal tax credit for electric vehicles, but not the 2024 model, which Tesla still has in inventory. Speaking of that tax credit, by the way, recent utterings from GOP senators suggest that the handy $7,500 incentive may be eliminated soon, as was promoted by President Trump on the campaign trail. So what is the EV company doing? Tesla has decided to discount its 2024 Cybertrucks by as much as $4,000 for the standard spec and $6,000 for its Foundations Series.
The challenges Tesla has had trying to sell its Cybertrucks are widely documented. Earlier this year, we heard that the company was using unusual strategies to sell vehicles like lowering prices and even removing the "Foundation Series" badges from higher spec models and selling them as regular models.
The unconventional styling was polarizing. (Photo by Tayfun Coskun/Anadolu via Getty Images)
The ballooning inventory and blossoming discounts are the clearest indications so far that the Cybertruck’s demand, in its current form, is not in step with Tesla’s expectations. Given the state of the industry, the company’s lofty target of producing 250,000 Cybertrucks a year is arguably just not feasible. Some analysts have suggested that the EV company will need to prioritize production of a cheaper single-motor Cybertruck to boost demand.
The situation surrounding the Cybertruck emphasizes how difficult it is to introduce unusual vehicles to the market. Although there was a lot of initial hype around the truck’s futuristic unconventional design and electric drivetrain, its high cost and initial limited supply prevented its wider adoption.
Price cuts and discounts can work if there’s a decent client base sitting on the fence considering a purchase. But with the standard all-wheel-drive model and its $4,000 discount, how many people are going to say, "Not at $66,990. But I’ll take it as $62,990!”? Only relevant in America as no other country will permit sales, the Cybertruck’s shine seems to be fading more and more with each passing day.