Tesla is currently offering 0% APR financing on the Cybertruck, a move that comes amidst slipping global sales and marks the first significant end-of-quarter incentive for the model. Despite a large number of total reservations, sales of the Tesla Cybertruck have been weaker than expected.
As the quarter comes to a close, Tesla is ramping up efforts to move Cybertrucks off the lot by offering 0% financing, but with a catch. In order to qualify for this offer, buyers must also opt for the Full Self-Driving (FSD) package, priced at $8,000. While this may seem like an added cost, the savings on interest over a 60-month auto loan make it a worthwhile investment. Additionally, FSD is now required for features such as Autosteer, which was previously included in the base Autopilot suite but has since been moved to the FSD package.
The decision to offer 0% financing on the Cybertruck reflects Tesla’s efforts to boost sales of the model, which have not met expectations despite a large number of pre-orders. With an estimated 3,700 unsold units sitting in parking lots, Tesla is looking to clear inventory and generate new interest in the Cybertruck.
However, challenges remain for Tesla, including discrepancies in the range and price of the Cybertruck as originally promised, as well as brand damage caused by CEO Elon Musk’s political controversies. Despite these obstacles, the 0% financing offer may entice some potential buyers to finally make a purchase.
In conclusion, Tesla’s move to offer 0% financing on the Cybertruck is a strategic effort to boost sales and clear inventory. While the offer may help attract new buyers, Tesla still faces challenges that could impact the success of the Cybertruck in the market.