Tesla is now trying to get rid of a massive stock of Cybertruck models, a car that 2 million people were waiting in line for just a few years ago.
Tesla is struggling to sell its Cybertruck models that are piling up in its warehouse. The once-hyped electric vehicle has lost its luster, and Tesla is now forced to resort to drastic methods to sell the excess cars.
In an attempt to entice customers, Tesla is now offering significant discounts on new Cybertrucks. Depending on the vehicle's configuration, the price can be up to 11,000 kroner lower than before. In addition, demo models of the Cybertruck are being sold at a discount of 19,000 kroner.
This situation stands in stark contrast to the massive interest that surrounded the Cybertruck at its launch, with over two million buyers on a waiting list to get their hands on the futuristic electric vehicle.
Production of the Cybertruck at Tesla's Texas factory has also been reduced in recent months. According to CNBC, demand for the Cybertruck is no longer what it used to be.
Despite the Cybertruck reaching fifth place on the list of best-selling electric vehicles in the US in 2024, its high price and a series of recalls have dampened buyer enthusiasm. In total, Tesla sold about 38,965 Cybertrucks in the US last year.
The Cybertruck was first unveiled in 2019, with Elon Musk announcing an expected price of around $30,000. But when the model finally hit the US market, the price was significantly higher than promised.
In addition, Tesla has had to recall the Cybertruck six times during 2024. Among other things, there have been problems with the windshield wipers and part of the bed, which had to be replaced.
Although overall U.S. electric vehicle sales increased 7.3 percent in 2024 compared to the previous year, Tesla has seen a decline in sales. Tesla's total electric vehicle shipments fell by 37,000 units, although Tesla's Model Y and Model 3 remained the best-selling electric vehicles in the U.S. by a significant margin.
The Cybertruck's lack of success can be attributed to several factors. The high price, combined with technical issues and recalls, has made many potential buyers hesitant.
Additionally, competition in the electric vehicle market has intensified significantly in recent years, with several traditional automakers launching their own electric vehicles, some of which offer similar features and performance at a lower price than the Cybertruck.
It's unclear how Tesla plans to deal with its overstocked Cybertruck inventory, but the current discounts could be a sign that Tesla is willing to go to great lengths to sell the unsold vehicles.
Whether that will be enough to revive interest in the Cybertruck is uncertain, however.
