Cybertruck ‘Officially’ a Flop as Factory Incentives Kick In
Starting Jan. 15, Tesla has offered discounts of $1,600 (new) or $2,630 (demo) off the $81,985 MSRP for its fully electric Cybertruck pickup, which debuted in November 2023 as a 2024-MY.
As Automotive News’s Laurence Iliff points out in an in-depth report on the Austin, Texas-based manufacturer’s foray into the full-size pickup market, a mere 14 months ago, Tesla predicted annual sales in the hundreds of thousands, well ahead of production, and no foreseeable need for factory incentives.
Instead, only about 39,000 new Cybertrucks rolled over the virtual curb in its first 13-plus months on the market. In a separate report, Iliff cites S&P Global Mobility data showing registrations for all new EVs increased by 21% year-over-year in November, around the time Tesla executives were likely finalizing their first pickup discounts. In January, reports showed sales of all new Teslas declined for the first time in nine years in 2024.
“I think the Cybertruck can be officially considered a flop now,” iSeeCars Executive Analyst Karl Brauer told AN. “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.”
