AUTO

Tesla Cybertruck Isn’t Meeting Expectations Despite Early Excitement

January 2, 2025

Cybertruck sales are lower than expected despite over 1 million reservations.
Inventory is piling up even with discounts and incentives.
The $7,500 federal tax credit may only be available for a few months.

Tesla delivered fewer vehicles in 2024 than it did in 2023, experiencing its first year-over-year decline in sales. The Cybertruck, Tesla’s first new model since 2020, had a full year on the market but did not significantly contribute to the company’s overall growth.

Electrify Expo San Francisco test ride demo Tesla Cybertruck — _{Tesla Cybertruck test drive at Electrify Expo.}

When Tesla unveiled the Cybertruck, it came with impressive features and the claim of over a million reservations. However, with a reservation deposit set at just $100, many of those commitments might not have been serious. Now that production has been running for over a year, the sales figures suggest the excitement hasn’t fully translated into actual purchases.

Tesla’s Q4 delivery numbers lump the Cybertruck with its Model S and Model X sales. Out of 23,640 “other models” delivered, we estimate Cybertruck sales ranged between 15,000 and 18,000, assuming the same distribution pattern in Q3 2024. Compare that to the excitement of those early reservations, and it’s clear the actual purchase commitment isn’t matching the hype.

Why are sales stalling? Let’s look at the facts. The Cybertruck costs more than originally advertised: the All-Wheel Drive model starts at $79,990, while the Cyberbeast version will set you back $99,999. Add in financing at $1,295/month for the AWD or $1,627/month for the Cyberbeast, and it’s a steep commitment. Leasing options are slightly more digestible, starting at $899/month for AWD and $999/month for the Cyberbeast.

Even Tesla’s performance promises for the Cybertruck have fallen short of expectations. The longest range available requires an estimated $16,000 range extender, boosting it to over 445 miles. For buyers waiting on the more affordable single-motor version, production is scheduled to begin in mid-2025, a lengthy delay for a vehicle already struggling to maintain interest.

Electrify Expo Rolls into Phoenix May 4-5 2024 - tesla cybertruck

There’s a sliver of good news for buyers. The Cybertruck recently became eligible for a $7,500 federal tax credit. This could boost sales temporarily, but there’s a catch. The incoming Trump administration, supported by Tesla CEO Elon Musk, has indicated plans to eliminate this credit. If you’ve been eyeing a Cybertruck, the clock is ticking.

Should you buy a Cybertruck? It depends on your priorities. If you love the unique design and can handle the higher price, it might be worth considering, especially with the current tax credit available. However, take a close look at other electric trucks like the Rivian R1T and Ford F-150 Lightning. These models offer proven reliability and could be strong alternatives.