Prices on 2024 Inventory Were Just Dropped

[YDR37]

Surprised we haven't seen any base price reductions yet.

You can make a case that the base price for a Cybertruck has been falling:

3Q 2024: Least expensive CT is 2024 Foundation AWD at $99,990.
4Q 2024: Least expensive CT is 2024 non-Foundation AWD at $79,990.
1Q 2025: Least expensive CT is 2025 AWD at $72,490 with tax credit.
2Q 2025: Least expensive CT will be 2025 RWD at $62,490 with tax credit.

But clearly this pattern owes something to the federal tax credit, not just Tesla's pricing decisions. If the tax credit goes away -- which would not be surprising -- the pattern could reverse.

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[Mini2nut]

It's crazy how Cybertruck demand has dropped off a cliff in a short 18 months.

Telsa is rumored to be sitting on 10,000 unsold Cybertruck's worth an estimated $800M. Legacy manufacturers shut down assembly lines when supply outpaces demand. Ford did this recently when excess Lightning inventory started stacking up on dealership lots.

With the end of Q2 around the corner it will be interesting to watch what marketing levers Tesla will pull for the CT in the next 7 weeks.

To avoid dropping CT resale values any further Tesla has implemented a no Cybertruck trade in policy.

 

[dalton108]

It's crazy how Cybertruck demand has dropped off a cliff in a short 18 months.

Telsa is rumored to be sitting on 10,000 unsold Cybertruck's worth an estimated $800M. Legacy manufacturers shut down assembly lines when supply outpaces demand. Ford did this recently when Lightning pickup inventory started collecting dust on dealer lots.

With the end of Q2 around the corner it will be interesting to watch what marketing levers Tesla will pull for the CT in the next 7 weeks.

To avoid dropping CT resale values any further Tesla has implemented a no Cybertruck trade in policy.

I’ve explained it fully. The truck is a symbol now it’s toxic. They are never going to sell in the numbers that they should have. One person is to blame.

 

[Mini2nut]

I agree. No amount of CT demand lever pulls will overcome the Cybertruck association with Elon Musk. Tesla could drop CT prices by $10k tomorrow and it would barely move the sales needle. I would be one of the few exceptions however as I love the SS doorstop and Tesla leadership.

 

[XyberTruck1]

Elon has been the reason I am going to buy one. He's doing everything right in my opinion.
Also probably the reason other trucks are giving the cybertruck thumbs up now.

 

[CyberTexas]

Elon has been the reason I am going to buy one. He's doing everything right in my opinion.
Also probably the reason other trucks are giving the cybertruck thumbs up now.

Same here.

 

[CyberTruckz]

It's crazy how Cybertruck demand has dropped off a cliff in a short 18 months.

Telsa is rumored to be sitting on 10,000 unsold Cybertruck's worth an estimated $800M. Legacy manufacturers shut down assembly lines when supply outpaces demand. Ford did this recently when excess Lightning inventory started stacking up on dealership lots.

With the end of Q2 around the corner it will be interesting to watch what marketing levers Tesla will pull for the CT in the next 7 weeks.

To avoid dropping CT resale values any further Tesla has implemented a no Cybertruck trade in policy.

Last quarter they waited until about 3 weeks until end of quarter to pull the APR lever. I think Tesla keeps thinking demand will change for the better but it keeps getting worse, in the process they wait too long to pull levers further decreasing demand.

 

[Macgreiner]

Same here.

That is good to hear, but the net loss from traditional Tesla market of relatively cashed up progressives like me is far greater. It is such a shame as this vehicle will be one that future motorist historians will say was way ahead of it's time.

 

[CyberTexas]

That is good to hear, but the net loss from traditional Tesla market of relatively cashed up progressives like me is far greater. It is such a shame as this vehicle will be one that future motorist historians will say was way ahead of it's time.

That is an interesting point. Who has more cash…right or left Side of the aisle? (I am not being politiocal here.)

As a stock holder and future owner, I wish Musk was more like Tim Cook…we all know where he stands, BUT he takes a more cautious route to not piss off one side or the other in his business dealings.

But then again, if Musk is like other CEOs, then he is not who he is today.

 

[BlueLightning]

It's crazy how Cybertruck demand has dropped off a cliff in a short 18 months.

Telsa is rumored to be sitting on 10,000 unsold Cybertruck's worth an estimated $800M.

Demand has never been huge for multiple reasons, lost faith after four years, initial price gouge, leadership, etc.

Model S and X are shadows of what CT is going through right now. Only the rich, or Early adopters and the down right ”got to have it at any cost” (sorry) only ever purchased them.

Tesla has only been keeping its head above water with the sales of Model 3 and Y as their main money maker past ten years…

“Until Now?!”

Tesla D.O.G.E’d itself with all the Washington nonsense and the S3XY-CT may never recover.

 

[VAF84]

To me it's still pricing. It's not competitive enough against the competition which is lower priced equivalent capable ICE vehicles, cheaper Ford EV truck alternative, or better equipped to handle truck duty competition from GM via better range and charging. Currently they are trying to convert their existing base of MY, MX, speciality vehicle enthusiasts into a CT and ignoring the traditional truck owner market. So either this continues to be a low volume niche market vehicle or marketing and engineering wake up and take on the truck market for real to convert the traditional truck owner.

For now, I check inventory every other day and they are not desperate enough to move these. They are where the Ford Lightning was in 2023 right before the market capitulation where pricing hit rock bottom and I bought my ex-Lightning. The Dual Motor needs to be had for about $65-$67k post tax credit to start moving them. The resale market needs to drop to $5X K for used. Build a robust base of owners lured by low prices that will then pass on favorable experiences to friends and neighbors. This buys them some time to make improvements to range and charge so that between the increased interest and performance they can then firm their pricing on future models.

As an example, on Autotrader there are multiple Ford Lightning Lariat that is fairly equivalent to CT Dual Motor for around $66k. Sure the CT is slightly faster charging, but what is your ICE to EV truck convert seeing? Similar performance, range, but Ford has dealers everywhere and robust aftermarket parts for $6-7k less than the CT.

 

[CyberTruckz]

To me it's still pricing. It's not competitive enough against the competition which is lower priced equivalent capable ICE vehicles, cheaper Ford EV truck alternative, or better equipped to handle truck duty competition from GM via better range and charging. Currently they are trying to convert their existing base of MY, MX, speciality vehicle enthusiasts into a CT and ignoring the traditional truck owner market. So either this continues to be a low volume niche market vehicle or marketing and engineering wake up and take on the truck market for real to convert the traditional truck owner.

For now, I check inventory every other day and they are not desperate enough to move these. They are where the Ford Lightning was in 2023 right before the market capitulation where pricing hit rock bottom and I bought my ex-Lightning. The Dual Motor needs to be had for about $65-$67k post tax credit to start moving them. The resale market needs to drop to $5X K for used. Build a robust base of owners lured by low prices that will then pass on favorable experiences to friends and neighbors. This buys them some time to make improvements to range and charge so that between the increased interest and performance they can then firm their pricing on future models.

Until the CT Tesla was fortunate that everyone wanted everything they made. Then they decided to make a very bold design decision that while I like it, isn’t for everyone. At the announcement they claimed these amazing prices and then failed to deliver. At the announced prices people can look past bold design but high price, bold design and politics have absolutely massacred CT sales. I refuse to buy unless AWD price improves or APR promo comes back.

 

[ehua329]

I agree with you - it's mostly the price. I ordered a FS AWD on Apr 17 and TSLA has pushed out delivery date twice now, the latest aim is now May 24 (It was tomorrow yesterday). There are paperwork issues, car was not in town and needed to be routed here, many small issues that I was notified in the last minute which takes time to obtain or address for me. They could have notified me all that was needed in the first few days after I placed the order. I had to push and reach out proactively to check if I needed to provide anything else to keep the date. The individuals were super nice and polite, but I just feel that the whole process (including, as you say, the whole marketing/pricing strategy) is less organized as I had expected. The other side of me was like - if you keep push out the delivery date, I want to see if a better financing or price further reduction happens, and if it does, I will switch to better before delivery.....

 

[YDR37]

That is an interesting point. Who has more cash…right or left Side of the aisle? (I am not being politiocal here.)

Don't know who has more cash overall. But I would bet that the left side is much more likely to spend their cash on EVs.

Look where Tesla stores are located: on the West Coast, in the Northeast Metro Corridor, and in major urban areas in between. There's got to be a statistically significant correlation between Tesla Store Density and Political Orientation.

 

[hangtime28]

I’m trying to get a non-FS 2024 and combine it with the lease incentive to get it for around 65k. I’m in central Texas but only seeing the truck I want in NY/NJ/CT area. Is there an easy way to get this to me in TX?

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