As inventories accumulate, Tesla has begun placing up to $10,000 on the hoods of Cybertrucks.

Recall those alleged million pre-orders for Tesla's Cybertruck. as stated by CEO Elon Musk? The company is finding it increasingly difficult to account for where they all went.

Following the deployment of approximately 50,000 Cybertrucks onto the roads, as reported by Elon Musk, the company aims to significantly expand its electric vehicle lineup. recent recall filing The company seems to have exhausted its pre-order list and is actively trying to boost interest. For instance, they are currently providing discounts of up to $10,000 on specific Cybertrucks available in their stock.

This price point is at the higher end. Although some demonstration models come with a discount of up to $10,000, most have reductions of either $8,000 or $8,200. It’s worth noting though that many of those vehicles are older units produced prior to the eligibility for the federal tax credit under the Cybertruck category.

Even with $8,000 off their price tags, these demonstration cars may not be more attractive options compared to a brand-new all-wheel-drive Cybertruck, which has an entry-level cost of $74,735 post-tax credits. Should you consider waiting, affordable new long-range, rear-wheel-drive pickup truck , you can find one for around $64,000. Therefore, these 2024 models aren’t particularly appealing choices, despite their pricing.

What's worse, as Electrek notes , could it be that some of these trucks are Foundation Series Trucks. Tesla ceased production of the launch edition Cybertrucks as far back as October, indicating they have a substantial quantity of premium, first-release electric vehicles that remain unsold.

Considering that the firm had earlier stated they could produce as many as 120,000 Cybertrucks annually, but the plant is currently running well beneath that capacity, this represents a significant discrepancy between production capabilities and market needs. This explains why various inducements have been observed such as lifetime complimentary Supercharging for essentially a brand-new item .

For a business that has traditionally offered cutting-edge products, it's beginning to seem outdated.

The Issue with the Cybertruck's Popularity, Explained

• Least Expensive Tesla Cybertruck Reaches U.S. Market with $10,000 Discount
• Tesla Silently Removes Extended-Range Option from Cybertruck Configurator
• Stock Tesla Cyber trucks Come with Unlimited Complimentary Lifetime Supercharging
• The Tesla Cybertruck Could Be Facing Stock Issues
• Thousands of Tesla vehicles are accumulating in a deserted shopping mall’s parking lot.
• The Tesla Cybertruck Was Too Harsh to Succeed

Certainly, this doesn’t mean the Cybertruck is entirely unsuccessful, nor does it indicate that Tesla faces an immediate threat to its dominance in the U.S. electric vehicle market. The The Cybertruck significantly outperformed all other electric pickups last year, establishing a new benchmark for that category. . The The Model Y is the top-selling vehicle globally across all categories. , and the Model 3 remains the sole electric sedan that continues to deliver tangible figures.

But the Model S and Model X are old— so ancient that they have already passed away in China — and its new top-of-the-line model doesn't generate the same excitement as those earlier vehicles did.

Meanwhile, Musk is exacerbating the situation even more. His detractors, including both present and past proprietors, assert this viewpoint. The Cybertruck boasts an instantly recognizable design; however, it comes across as ostentatious and flashy. This trait, coupled with the negative perception surrounding the Tesla brand due to Musk’s progressively controversial forays into politics, makes it challenging to attract mainstream electric vehicle buyers. Moreover, considering its reliance on electric power, struggling with quality issues And lacking expertise in matters related to trucks, it’s improbable to attract many conventional truck purchasers.

Musk probably wouldn’t be overly worried about the Cybertruck’s demand issues since his focus isn't on Tesla operating merely as an automobile manufacturer. He is progressively emphasizing this point. This is an artificial intelligence corporation. For the time being, however, Tesla’s artificial intelligence initiatives are supported by its robust and lucrative mainstay business of selling vehicles. Given that their key model is struggling with a billion-dollar loss and substantial financial incentives are needed for all their car models, Tesla might not continue to serve as the cash cow essential for Musk’s strategic vision.

Contact the author: Mack.Hogan@insideevs.com .