Tesla is facing challenges with its Cybertruck inventory as demand issues persist. The electric vehicle manufacturer is now offering significant discounts on its 2024 models in an effort to clear out stock.
Despite a tough year in 2024, Tesla is now grappling with excess inventory of the Cybertruck in both the US and Canada. The company has resorted to discounting the 2024 models by up to $4,000 for regular versions and $6,000 for Foundation Series models. This move comes as the new 2025 Cybertruck becomes eligible for the $7,500 federal tax credit for electric vehicles, while the 2024 models do not qualify.
With thousands of Cybertruck units sitting in inventory, Tesla’s latest discount is double the amount offered just a month ago. The company is under pressure to clear out the older models before the tax credit disappears, as GOP senators have already proposed a bill to eliminate it. This looming threat underscores the urgency for Tesla to sell off its 2024 inventory before the situation worsens.
In order to sustain the Cybertruck program, Tesla may need to introduce the single-motor version of the vehicle and allocate more production capacity towards that variant. However, with current demand constraints, it seems unlikely that Tesla will be able to achieve its planned production capacity of 250,000 Cybertrucks per year.
The future of the Cybertruck remains uncertain as Tesla navigates the challenges of excess inventory and shifting market dynamics. As the company grapples with these issues, it will be interesting to see how Tesla adapts its strategy to address the evolving landscape of electric vehicle sales.
