Tesla promised a game-changer with the Cybertruck—something that would flip the truck market on its head. Instead, the rollout has been anything but smooth. Despite a waiting list that reportedly topped a million names, the company moved only about 39,000 units in all of 2024. That’s under 10% of Elon Musk’s original sales target (Source: CBT News).
The numbers don’t lie, and they’re putting a serious dent in confidence. With disappointing demand and production costs stacking up, the Cybertruck’s future is looking shaky. Internally, the company is scrambling to offload remaining inventory, even scrubbing “Founders Series” labels to repackage early models as standard stock (Source: The Verge).
Discount Financing Hints at Deeper Trouble
Tesla’s latest move to spark interest? Low-interest financing. Select buyers can now access a 1.99% APR, a steep drop from the typical 5.84%. It’s a rare tactic for a company that usually banks on hype over discounts (Source: CBT News).
This kind of pivot doesn’t happen when things are going to plan. It reads more like damage control—an attempt to clear excess inventory without cutting base prices outright. The question is whether this move is enough to change the narrative or if it’s just delaying the inevitable.
The EV Market Isn’t the Problem
It’s not that people are losing interest in electric vehicles. In fact, the opposite is happening. U.S. EV sales hit a record in Q4 of 2024, with 1.3 million units sold. There’s plenty of demand—but it’s being soaked up by other companies offering models that feel fresher, more affordable, or simply less polarizing (Source: Automotive Dive).
That shift shows where Tesla’s real challenge lies: it’s no longer the only player in town. Consumers have more options now, and they’re voting with their wallets. Even loyal fans are reconsidering whether Tesla still represents the cutting edge.
Brand Baggage Is Starting to Weigh Tesla Down
There’s no ignoring the elephant in the room: Elon Musk’s behavior has become part of the brand, and not in a good way. His political statements and controversial opinions have alienated potential buyers and made Tesla’s public image harder to manage (Source: Business Insider).
While some buyers might overlook the drama, many are moving on. When you’re shopping for a $60,000 vehicle, the last thing you want is controversy in the driver’s seat. This isn’t just about trucks—it’s about trust.
Where the Cybertruck Fits in a Shifting Landscape
For all its angles and attitude, the Cybertruck might just be a victim of bad timing. Consumer tastes are shifting, and the EV space is maturing fast. Trucks still have a place—but they need to offer more than just a headline and a steel shell.
If there’s a silver lining here, it’s for buyers. With discounts rolling out and inventory sitting idle, now might be the moment to scoop one up for less. But as for Tesla? Climbing out of this hole won’t be easy. The company will have to rethink not just its products—but its entire playbook.
