Tesla Cybertruck Discounts Highlight Slowing Demand in Competitive EV Market

Tesla has introduced price reductions on its Cybertruck models as sales fall short of expectations, despite being the top-selling electric pickup in 2024.

Tesla is offering discounts of up to $2,630 on Cybertruck models, including $1,600 off new vehicles and higher reductions for demo units.
The Cybertruck sold approximately 39,000 units in 2024, surpassing the Ford F-150 Lightning but falling short of Tesla's earlier projections of 48,500 units.
Analysts attribute the slowdown to high prices, polarizing design, and increased competition in the electric vehicle market, with rivals like Ford and Rivian offering lower-cost alternatives.
Initial demand from early adopters has waned, and Tesla is now focusing on appealing to a broader consumer base to sustain sales momentum.
The Cybertruck's price reductions coincide with Tesla's first annual sales decline and production adjustments, including shifting workers to the more popular Model Y.