Tesla’s Cybertruck has been a hot topic of conversation since CEO Elon Musk claimed there were millions of pre-orders for the electric pickup truck. However, as the company struggles to explain where all those orders have gone, it seems that demand may not be as high as initially anticipated.
With only around 50,000 Cybertrucks on the road and a recent recall filing indicating that Tesla is out of pre-orders, the company is now offering discounts of up to $10,000 on certain inventory models. While some demo models are receiving the full $10,000 markdown, many others are discounted at $8,000 or $8,200. It’s worth noting that these discounts apply to older trucks that were built before the Cybertruck qualified for the federal tax credit.
Despite the discounts, these demo vehicles may not necessarily be better deals than a brand-new Cybertruck All-Wheel Drive, which starts at $74,735 after the tax credit. For those willing to wait for the new cheaper Long Range, rear-wheel-drive truck, prices can go down to the $64,000 range. As a result, the 2024 trucks with discounts may not be the most compelling options for buyers.
Furthermore, Tesla seems to be struggling with an inventory of Foundation Series trucks that were discontinued back in October. This mismatch between supply and demand is evident, especially considering Tesla’s capacity to produce up to 120,000 Cybertrucks per year.
While the Cybertruck is not a total failure, it’s clear that Tesla is facing challenges with this particular model. Musk’s controversial behavior, combined with quality issues and the truck’s unconventional design, may be contributing to its lackluster performance in the market.
Despite these issues, Tesla remains a dominant player in the EV market, with the Cybertruck outselling all other electric pickup trucks last year. The Model Y continues to be the best-selling car globally, and the Model 3 remains a popular choice among consumers.
However, with the Model S and Model X showing their age and the Cybertruck failing to meet expectations, Tesla may need to reevaluate its strategy. Musk’s focus on AI technology may be a long-term goal, but for now, the company’s success is still dependent on its car sales.
In conclusion, while the Cybertruck may be facing challenges, Tesla’s overall position in the market remains strong. The company will need to address the issues surrounding the Cybertruck and adapt to changing consumer preferences to maintain its leadership in the EV industry.