Tesla offers deep discounts and perks to move Cybertruck inventory

Tesla is rolling out significant discounts and added benefits on its Cybertruck in both the United States and Canada. This comes as the company faces the huge challenge of clearing existing inventory. American customers can now find discounts of up to $11,990 on select 2024 Cybertruck models. Yes - Tesla still has unsold Cybertruck units from last year.

Some of these discounted Cybertrucks also include lifetime access to Tesla's extensive Supercharger network and the FSD software. For example, the 2024 Cyberbeast Foundation Series is being offered with a $11,990 price reduction, along with the lifetime free Supercharging perk. The standard 2024 All-Wheel Drive Cybertruck also sees a similar discount, bringing its price down to $89,990, and it too benefits from the lifetime Supercharging and, in some instances, the inclusion of FSD.

Canadian buyers are also seeing substantial savings. Discounts reach up to CAD $16,590 on the Cyberbeast and CAD $13,790 on the AWD Cybertruck.

The push to reduce inventory comes after reports indicated that Tesla had a significant number of Cybertrucks, both new and demo units, sitting in its stock. As of recently, there were nearly 4,500 Cybertrucks listed as available in the United States and a much smaller number, 72 units, in Canada.

All the signs in the world point to the fact that Tesla's current sales rate for the Cybertruck is nowhere near the company's initial projections. While CEO Elon Musk had anticipated an annual production of around 250,000 Cybertrucks by 2025, current estimates suggest a sales rate closer to 25,000 units per year.

Reports from earlier this year revealed that Tesla held approximately 2,400 Cybertrucks in inventory, valued at over $200 million. A portion of this inventory consists of older 2024 models, including some "Foundation Series" vehicles that were last produced in October 2024. These older models do not qualify for federal tax credits, making them less appealing to some buyers. Despite earlier discount efforts, Tesla's inventory seems to have grown to an estimated 4,500 units.

In response to the slow sales and high inventory, Tesla is apparently adjusting its production at Gigafactory Texas. Sources indicate that the company has reduced its Cybertruck production teams and shifted some workers to the production of the Model Y. Tesla is currently operating all of its factories at a reduced capacity to avoid further inventory buildup amid softening demand for its vehicles.

Via