Tesla is ramping up its discounts on Cybertruck as inventory for the electric pickup truck is piling up amid demand issues.
The automaker had a tough time selling the Cybertruck in 2024, its first full year of production.
We reported that Tesla went as far as buffing out “Foundations Series” badges on some Cybertrucks to sell them as regular cheaper ones and homologated US Cybertrucks for the Canadian market to try to move them.
Now, inventory is piling up in Canada and the US, but Tesla’s home market is in a strange situation.
The new 2025 Cybertruck has become eligible for the $7,500 federal tax credit for electric vehicles, but not the 2024 model year, which Tesla still has in inventory.
So now, Tesla is discounting 2024 Cybertrucks by up to $4,000 for regular ones and $6,000 for Foundations Series:
Tesla is estimated to have thousands of Cybertruck units in inventory. This new discount is twice as big as what it offered last month.
Electrek’s Take
It’s unclear how much the tax credit can help Tesla with the Cybertruck because the vehicle is at the upper limit of the price range, and buyers have income restrictions.
Top comment by Blurft
Price cuts are great if there's a meaningful population that's on the fence about a purchase and see price as a determinative factor...but is that really the case with the Cybertruck? How many people are going to say "Not at $75k, but at $71k I'm sold!"
At this point, the Cybertruck is so associated with Musk and his antics that there's a huge segment of the population that wouldn't drive one if they were paid to do it. Price cuts won't do a thing to change their minds.
The Cybertruck is a flop as a vehicle. By now it's just a tool for the tasteless to show their allegiance to Musk.
Anyway, it sounds like the tax credit will soon disappear, as GOP senators have already proposed a bill to eliminate it.
Tesla needs to get rid of its 2024 inventory before that happens since the 2025 inventory would then pile up faster.
It looks like Tesla needs to launch the single-motor version of the Cybertruck soon and focus more production capacity toward that if it wants to keep the program going.
Either way, it doesn’t look like Tesla will be able to come near its planned production capacity of 250,000 Cybertrucks per year under its current demand situation.
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