Tesla slaps $10K discounts on Cybertruck amid poor sales
Tesla is facing challenges with its Cybertruck as sales decline and inventory accumulates, leading to production cutbacks and increased discounts, as reported by Electrek.
According to Business Insider, Tesla has reduced production targets for multiple Cybertruck assembly lines, with some running at reduced capacity and decreased staffing levels.
Employees have noticed the changes, with one mentioning that it seems like the company is filtering people out as the parking lot empties. Some workers have been redirected to focus on the Model Y line since January.
These adjustments follow previous production changes initiated in December 2024, where Tesla informed employees about upcoming schedule and output reductions.
Despite Elon Musk’s optimistic projections, the Cybertruck has fallen short of selling 250,000 units annually, with current sales pacing at around 25,000 units per year.
Inventory reports indicate that Tesla started the second quarter with over 2,400 Cybertrucks in stock, leading to increased discounts of over $10,000 per vehicle to clear inventory.
Despite the discounts, Tesla has only managed to sell around 100 vehicles from the surplus stock since the beginning of the month.
To address these challenges, Tesla has reduced production output at its Gigafactory in Texas and faced a 40% decline in its share price year-to-date.
While facing setbacks, Musk has reiterated Tesla’s goal to double its US vehicle production within the next two years.
