Tesla now offers discounted financing on Cybertruck as the truck turns out to be a flop

Tesla has started to offer discounted financing on Cybertruck as the electric pickup truck undoubtedly turns out to be a flop.

Tesla claimed over 1 million reservations for the Cybertruck, and CEO Elon Musk said he could see Tesla producing 500,000 units per year.

However, that was before Tesla announced that the production version would be much more expensive and have a shorter range than what was initially announced.

The Cybertruck has now been in production for a year and a half, and it looks like Tesla would be lucky to sell about 10% of Musk’s goal of 500,000 units.

The automaker doesn’t report Cybertruck sales, but it is estimated that Tesla delivered roughly 40,000 Cybertrucks in 2024, and it is expected to have even more issues selling the truck this year.

Tesla has taken several steps to help sales.

We reported that Tesla launched Cybertruck leases to help move vehicles. The company is even still tucked with “Foundations Series” Cybertrucks, and we found out that Tesla buffed “Foundations Series” badges out of some trucks to sell them as cheaper regular Cybertrucks.

For the remaining “Foundations Series,” which there still are despite Tesla switching to regular Cybertruck production in October, Tesla has even offered free Supercharging for life.

Now, Tesla is stepping up its game, and it is offering discounted financing on new Cybertruck orders:

Tesla announced 1.99% APR for a limited time:

1.99% APR available for a limited time for well-qualified buyers

WIthout the “promotion”, the rate for excellent credit is 5.84%.

While Tesla is discounting the rates, it is not discounting them as much as for new Model 3 orders.

We reported earlier this week that Tesla offers 0% and 0.99% with $0 down on new Model 3 orders in the US until the end of the quarter.

Electrek’s Take

It is very possible that Tesla can’t sell more than 10,000 Cybertrucks this quarter, which would extrapolate to 40,000 units per year or less than 10% of what Elon said he would see Tesla delivering.

Now, the cheaper single motor Cybertruck should help, but by how much? It could bring Tesla to 20-30% of the volume Elon saw possible?

I think it’s fairly clear that the Cybertruck is a flop.

Tesla launched a single new vehicle in the last 5 years and it is a flop.