Tesla has expanded its discount offerings on the 2024 Cybertruck models in the United States, providing reductions of up to $4,000 for standard versions and $6,000 for the “Foundations Series.” This move comes as the company addresses an accumulation of unsold inventory.
The automaker faced challenges in selling the Cybertruck throughout 2024, its inaugural full production year. In efforts to boost sales, Tesla has previously modified vehicle badges and adjusted market strategies. Despite these efforts, inventory levels have remained high in both the U.S. and Canada.
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Complicating the sales landscape, the 2025 Cybertruck models qualify for a $7,500 federal tax credit for electric vehicles, a benefit not extended to the remaining 2024 inventory. This discrepancy has prompted Tesla to implement the current discounts to make the older models more appealing to potential buyers.
Industry analysts note that these discounts are a significant increase from previous incentives, which were approximately $2,000. The enhanced reductions aim to align the 2024 models’ pricing more closely with the net cost of the 2025 versions post-tax credit, thereby stimulating sales and reducing surplus inventory.
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As of now, Tesla has not disclosed the exact number of 2024 Cybertruck units remaining in inventory. However, reports suggest that the figure reaches into the thousands. The company continues to explore various strategies to balance production with consumer demand effectively.
In addition to pricing adjustments, Tesla has been enhancing the Cybertruck’s features. Notably, the vehicle now supports charging speeds of up to 325 kW at select V4 Supercharger stations, reducing charging times for owners.