Cybertruck sales collapse as inventory swells even with $6,000 discounts on offer

Tesla's futuristic Cybertruck, once touted as a revolutionary electric pickup, is facing an increasingly complicated sales challenge. A substantial and growing inventory of unsold Cybertrucks is gathering dust outside the factory, prompting Tesla to implement increasingly deep discounts. This whole situation begs a question about the long-term viability of the Cybertruck.

Tesla's struggles to move the Cybertruck are well documented. Reports surfaced earlier this year of the company resorting to unconventional tactics, such as removing "Founders Series" badges from certain trucks to market them as less expensive, standard models. The company also explored expanding its market by homologating US-spec Cybertrucks for sale in Canada. Unfortunately for the company, inventory continues to grow in both countries.

The current situation in the United States is particularly complex. While the 2025 Cybertruck model qualifies for the $7,500 federal tax credit for electric vehicles, the remaining 2024 models do not. This puts Tesla in a difficult position, as it needs to clear out its 2024 inventory before the tax credit, already under threat of elimination by Republican senators, disappears.

To incentivize buyers, Tesla has significantly increased its discounts. Currently, the company is offering up to $4,000 off standard 2024 Cybertrucks and up to $6,000 off Founders Series editions. These discounts are double the incentives offered just last month, suggesting there's urgency in Tesla's actions.

The growing inventory and deepening discounts are the clearest signs yet that the demand for the Cybertruck, in its current configuration, is not what Tesla was hoping for. The company's ambitious goal of producing 250,000 Cybertrucks annually is simply unrealistic under current market conditions. Analysts speculate that Tesla may need to accelerate the launch of the single-motor version of the Cybertruck and shift production focus to that model to stimulate demand.

The Cybertruck's predicament highlights the challenges of bringing unconventional vehicles to market. The truck's futuristic design and electric powertrain generated a lot of initial excitement, but its high price, initial limited availability, and its polarizing aesthetics are hindering its widespread adoption. Tesla now faces the critical task of recalibrating its sales strategy and potentially adjusting its production plans - the only other option is to pull the plug on the Cybertruck altogether, which would be unthinkable. Stranger things have happened, though.

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