Tesla is offering Cybertruck discounts just 14 months after launching the wildly styled pickup that CEO Elon Musk said would compete with its gas-powered counterparts from Ford and Chevrolet, selling in the hundreds of thousands a year.
With demand for the niche pickup weakening, the inventory discounts represent a stark departure from massive third-party markups when the Cybertruck first went on sale in November 2023. They also contrast with predictions that production of the Cybertruck would be exhausted for years, rendering the factory incentives useless.
Discounts on the Cybertruck range from $1,600 for new 2024 models to $2,630 for demo vehicles, Tesla said on its website on January 15. When ordered at full price, the Cybertruck starts at $81,985 with shipping. The pickup is also eligible for a $1,000 price reduction using a Tesla owner referral code.
“I think the Cybertruck can now be officially considered a failure,” said Karl Brauer, executive analyst at iSeeCars. “Remember, this would be the Tesla F-150. The new benchmark, founding vehicle for the Tesla brand to remain super powerful, super profitable and high volume.
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Despite Musk’s claims of more than 1 million Cybertruck reservations ahead of its November 2023 launch, the polarizing pickup truck failed in its first full year of production, according to industry estimates and research data. registration in the United States.
In 2024, Tesla will sell about 39,000 Cybertrucks in the United States, according to a Jan. 13 estimate from Cox Automotive. S&P Global Mobility said there were 35,235 Cybertruck registrations between November 2023 and November 2024, the most recent data available.
Tesla reported a decline in overall global sales last year, to 1.79 million from 1.81 million in 2023. Some analysts blamed the Cybertruck’s low numbers on Tesla’s sales failures. The pickup is sold in the United States and Canada.
Certainly, the Cybertruck is a commercial success compared to other electric pickup trucks. Cox estimated sales of the electric Ford F-150 Lightning, based on the gasoline version, at 33,510 vehicles in 2024. That was good for second place among EV pickup trucks after the Cybertruck. Rivian’s R1T pickup had sales of 11,085 last year, Cox said.
“I think the initial fanfare, enthusiasm and hype around the Cybertruck quickly evaporated,” said Robby DeGraff, product information manager at AutoPacific. “I’ve seen a lot more F-150 Lightning and R1T owners using their trucks for work or play, rather than showing off around town with cheesy aftermarket packages.”
