Tesla has rolled out a new financing incentive for the Cybertruck, offering a 1.99% annual percentage rate (APR) for a limited time to well-qualified buyers.
The move comes amid sluggish sales of the electric pickup truck, which has struggled to meet early expectations despite an initially strong reservation count.
See also: Tesla Updates Cybertruck Windshield Wiper to Address Streaking Issue
The automaker previously claimed over 1 million reservations for the Cybertruck, with CEO Elon Musk projecting an annual production target of 500,000 units.
However, Tesla later revised the vehicle’s pricing and range specifications, leading to lower-than-expected demand. Industry estimates suggest Tesla delivered approximately 40,000 Cybertrucks in 2024, far short of its original production goals.
See also: Cybertruck Rated Five Stars in U.S. Crash Tests, Rollover Risk at 12.4%
To stimulate sales, Tesla has implemented several measures, including launching leases for the Cybertruck and offering free lifetime Supercharging for remaining “Foundation Series” models. Additionally, some trucks were repackaged as standard Cybertrucks by removing their exclusive “Foundation Series” badging.
The latest financing offer significantly reduces the standard 5.84% interest rate for top-tier credit applicants, though it remains higher than Tesla’s 0% and 0.99% financing options on new Model 3 orders. The Model 3 promotion, available in the U.S. until the end of the quarter, also requires no down payment.
See also: Tesla Cybertruck Lead Engineer Offers Sneak Peek at Upcoming Off-Road Armor
Tesla has not disclosed official Cybertruck sales figures, but analysts suggest the company may face further difficulties in selling the truck throughout 2025. The latest financing incentives suggest Tesla is actively seeking new ways to improve demand.