Tesla pulls out all the stops as Cybertruck sales grind to a halt

Tesla Cybertruck appears to be facing significant sales challenges. After initial hype faded, and over a million reservations turned out to be as real as unicorns, Tesla is now enabling leasing options and free upgrades to move its inventory of the futuristic pickup truck. The company's recent silence on the Cybertruck, even omitting it from their earnings call, speaks volumes about the situation.

Tesla initially projected sales of 500,000 Cybertrucks annually and established production capacity at the Giga Texas for 250,000 units per year. After working through the initial reservation backlog with fewer than 40,000 deliveries, the automaker is now struggling to sell the remaining vehicles. This is a painful contrast between projection and reality, and it raises questions about the Cybertruck's real market appeal.

To stimulate demand, Tesla introduced a series of incentives. These include discounts, referral bonuses, and even free Supercharging for the vehicle's lifetime. To add to these efforts, Tesla has now introduced leasing options for the Cybertruck in the US, starting at $750 per month. Leasing is far less profitable than outright sales, and it's a sign that Tesla is prioritizing volume over profit margins to move these vehicles. This is a huge shift in strategy - it's an admission that Cybertruck is not really selling.

There are several factors that could potentially influence Cybertruck sales in 2025. The electric pickup truck has become eligible for federal tax credits, which might make it more attractive to buyers. Providing, of course, the tax credit isn't revoked by Musk's favorite President. Tesla also plans to release a less expensive rear-wheel-drive (RWD) version of the Cybertruck later in the year. This could broaden the vehicle's appeal, though the extent of the impact is a bit of a mystery. It is possible it'll be the question of "too little, too late." Additionally, Tesla is offering a $1,000 discount on the Cybertruck through its referral program.

Tesla continues to grapple with unsold inventory, particularly the high-end Foundation Series Cybertrucks. The company is now offering free wraps, valued at over $6,000. Previous reports indicated that Tesla even removed the Foundation Series badges from some Cybertrucks to market them as regular models, yet more proof that those who wanted a Cybertruck already got one, and no new customers are lining up.

The Cybertruck's current sales performance is a far cry from initial expectations. Industry estimates for 2025 range from a low of 30,000 units to a more optimistic 100,000. Given the current trend, even the lower estimate seems ambitious. The Cybertruck program, compared to Tesla's initial production capacity plans, could be considered a failure. Had Tesla focused on a more conventional electric pickup truck alongside more affordable EV models, the company might be in a more advantageous position today. The Cybertruck is heading for the rocks, and it is just a matter of time before Tesla pulls the plug on it.

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