Tesla is offering Cybertruck discounts just 14 months after launching the wildly styled pickup that CEO Elon Musk predicted would compete with gasoline counterparts from Ford and Chevrolet, selling in the hundreds of thousands per year.
With demand for the niche pickup weakening, the inventory discounts represent a stark shift from the massive third-party markups when the Cybertruck first went on sale in November 2023. They also contrast with predictions that Cybertruck production would be sold out for years, making factory incentives unnecessary.
Cybertruck discounts run from $1,600 for new 2024 models to $2,630 for demo vehicles, Tesla said on its website Jan. 15. When ordered at full price, the Cybertruck starts at $81,985 with shipping. The pickup is also eligible for a $1,000 price reduction using a referral code from a Tesla owner.
“I think the Cybertruck can be officially considered a flop now,” said Karl Brauer, executive analyst at iSeeCars. “Remember, this was going to be Tesla’s F-150. The new benchmark, foundational vehicle for the Tesla brand to keep it super powerful, super profitable and high volume.”
Sign up for the weekly Automotive News Mobility Report newsletter for the latest developments at the intersection of transportation and technology.
Despite Musk’s claims of over 1 million Cybertruck reservations before its November 2023 launch, the polarizing pickup came up short in its first full year of production, according to industry estimates and U.S. registration data.
In 2024, Tesla sold about 39,000 Cybertrucks in the U.S., according to a Jan. 13 estimate from Cox Automotive. S&P Global Mobility said there were 35,235 Cybertruck registrations from November 2023 to November 2024, the most recent data available.
Tesla reported a drop in overall global sales last year to 1.79 million from 1.81 million in 2023. Some analysts blamed the Cybertruck’s weak numbers for Tesla’s sales miss. The pickup is sold in the U.S. and Canada.
To be sure, the Cybertruck is a sales success when measured against other electric pickups. Cox estimated 2024 sales of the electric Ford F-150 Lightning, which is based on the gasoline version, at 33,510 vehicles. That was good for second place among EV pickups after the Cybertruck. Rivian’s R1T pickup had sales of 11,085 last year, Cox said.
“I think the initial fanfare, excitement and hype for the Cybertruck has quickly evaporated,” said Robby DeGraff, manager of product insights at AutoPacific. “I’ve seen way more F-150 Lightning and R1T owners actually using their trucks for work or play, rather than showboating around town with tacky aftermarket wraps.”
