The Tesla Cybertruck is in disaster. The automaker remains to be sitting on a ton of outdated stock, which it’s now closely discounting, and it’s throttling down manufacturing to attempt to keep away from increase the stock once more.
When launching the manufacturing model of the Cybertruck in late 2023, Tesla CEO Elon Musk claimed that the automobile program would attain 250,000 items a 12 months in 2025:
“I feel we’ll find yourself with roughly 1 / 4 million Cybertrucks a 12 months, however I don’t assume we’re going to achieve that output price subsequent 12 months. I feel we’ll in all probability attain it someday in 2025.”
We at the moment are in 2025, and Tesla is predicted to presently be promoting the Cybertruck at a price of about 25,000 items a 12 months – a tenth of what Musk predicted.
Earlier this month, we reported that Tesla started the second quarter with 2,400 Cybertrucks in stock, valued at over $200 million.
It is a actual downside for Tesla as a lot of these Cybertrucks are older 2024 mannequin 12 months items not eligible for the federal tax credit score, and even some ‘Basis Collection’, which Tesla stopped constructing in October 2024 – that means that Tesla is sitting on some 6-month-old vans in some circumstances.
Tesla is now providing deeper reductions on the brand new stock of Cybertrucks. The reductions can go as excessive as $10,000, however the common one is nearer to $8,000, which is greater than the tax credit score:
Regardless of Tesla’s efforts, the automaker has solely decreased its Cybertruck stock by about 100 items for the reason that starting of the month.
Tesla is now additional throttling down manufacturing of the Cybertruck at Gigafactory Texas, in accordance with a brand new report from Enterprise Insider.
In response to two Tesla employees talking with BI, the automaker has decreased its Cybertruck manufacturing groups and now operates at a fraction of its authentic capability. It additionally moved some Cybertruck manufacturing employees to Mannequin Y manufacturing on the plant.
One of many employees stated:
“It feels quite a bit like they’re filtering folks out. The car parking zone retains getting emptier.”
As we beforehand reported, Tesla has been working all its factories at roughly 60% capability to keep away from increase extreme stock amid decrease demand.
Relating to the Cybertruck program, it appears like Tesla is decreasing manufacturing even additional.
Final week, Tesla launched a brand new model of the Cybertruck in an try to spice up demand, however it has been poorly obtained as a result of automaker’s removing of many important options.
Electrek’s Take
There are a variety of different automakers that will have already given up on the Cybertruck ith these outcomes, however not Tesla. Musk shouldn’t be one to confess defeat simply.
Nonetheless, Tesla is operating out of choices.
The brand new Cybertruck RWD was a determined try, and I doubt it should work. Now, it appears like Tesla is additional throttling down manufacturing – just about confirming that the brand new trim didn’t assist.
The following step could be a whole manufacturing pause.
Once more, I don’t assume Musk needs to confess defeat, however sooner or later, it’s inevitable.
