Big Trouble at Tesla as Cybertruck Sales Appear to Collapse
EV-focused Internet journal Electrek is reporting on a huge Q1 rise in inventories for Tesla’s ultra-weirdly designed Cybertruck model. This comes as no surprise here since I’ve predicted the bizarre, DeLorean-knockoff-looking design would inevitably limit its appeal to those who use pickups for real work rather than as a virtue signaling status symbol.
Tesla managed to move fewer than 2,000 Cybertruck units in April, its poorest sales month in over a year. The weird truck slump came amid rising average sales prices and fewer buyer incentives being offered by EV makers across the segment. Tesla still led the US market in overall sales with about 45,000 for the month, as its average sales price rose above $56,000 per unit. That was below the industrywide average of $59,255.
Counterintuitively, the Cybertruck’s sales slump has corresponded to a declining sales price tag. When it first began rolling off the Tesla assembly line in December of 2023, the average Cybertruck went for well over $100,000.
