As the EV market becomes increasingly competitive, Tesla is providing discounts on Cybertrucks.

• This week, Tesla began providing discounts on new Cybertruck vehicles in its stock, as indicated by listings on the company's website.
• The discounts on new Cybertrucks can reach up to $1,600, while demo versions of the trucks in stock may offer up to $2,600 off.
• In November, Tesla recalled its sixth defective drive inverter in a year.

This week, the company began offering discounts on new Cybertruck vehicles in its inventory, as per its website listings.

The discounts for new Cybertrucks are as high as $1,600, with the price varying based on configuration, and up to around $2,600 for demo versions in inventory, according to listings. However, production of the angular, unpainted steel pickups has slowed at Tesla's factory in Austin, Texas, in recent weeks, reports suggest.

In 2023, customers began receiving deliveries of the unconventional pickup. Elon Musk first unveiled the Cybertruck in 2019 and stated that it would cost around $40,000. However, its base price in the U.S. was closer to $80,000 over the course of 2024.

Tesla's core automotive sales growth was previously viewed as significant by Wall Street due to the Cybertruck.

Despite being the fifth best-selling EV domestically and outselling the Lightning F-150 in the U.S. last year, the Cybertruck's high price, recurring recalls, and production issues in Austin hindered its growth. In November, Tesla announced its sixth recall in a year to replace faulty drive inverters.

In 2024, despite a worldwide record in EV demand, Tesla's deliveries decreased slightly compared to the previous year. This was due to the emergence of numerous new competitive models from various automakers, which reduced Tesla's market share.

Although Cox data predicts that full-year EV sales in the U.S. will increase by 7.3% to an estimated 1.3 million in 2024, Tesla's sales for the year declined by approximately 37,000 vehicles.

The Tesla Model Y SUV and Model 3 sedan were the top two best-selling EVs, with a significant gap, while sales of older, more affordable Tesla models decreased from the previous year. Cox reported that Tesla sold approximately 38,965 Cybertrucks in the U.S. last year.

Musk has apologized to California customers for delays in Cybertruck delivery. He stated that the trucks are currently being utilized to transport supplies and wireless internet to individuals in Los Angeles affected by the devastating wildfires.

""We need to use Cybertruck deliveries in California as mobile base stations to provide power to Starlink Internet terminals in areas of LA without connectivity. A new truck will be delivered end of week," Musk wrote on X."

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