Tesla slashes Cybertruck prices by over $10,000 amid profit drop, weak demand

Tesla has slashed prices on its Cybertruck by more than $10,000 in an urgent bid to boost sales amid falling profits and waning consumer interest.

According to Teslarati, buyers in the U.S. can now get up to $10,550 off 2024 Cybertruck inventory units. The deal also includes free lifetime Supercharging for all Foundation Series purchases, a perk once reserved for early Tesla adopters.

Despite its futuristic design and launch hype, the Cybertruck has struggled to gain traction. While it led electric pickup sales in late 2024, its high price tag has kept it out of reach for many buyers. One Tesla owner bluntly said online, “Unless they get the cost down, they aren’t moving them.”

The discount comes as Tesla reported a 71% drop in Q1 net income, with total revenue falling 9% year-over-year. CEO Elon Musk attributed the slump to a combination of shifting political climates and uncertain trade policies.

The company is also feeling the pressure from a crowded EV market. Established brands and new players alike are flooding the industry with affordable electric alternatives. In 2024 alone, 1.3 million EVs were sold in the U.S., up 7.3% from the previous year, according to Cox Automotive.

Adding to Tesla’s challenges, the Cybertruck has already seen eight recalls since launch, with over 46,000 units recalled in March 2025. Tesla has since upgraded the truck’s safety systems, introducing new tire sensors that monitor tread depth, temperature, and road conditions in real time.

Still, the move to discount may help Tesla reconnect with price-conscious buyers. As EV adoption grows, many consumers are seeking affordable, reliable electric options and may now give the Cybertruck a second look.

Beyond price, EVs offer long-term savings and health benefits. According to the EPA, drivers save up to $1,500 per year in fuel and maintenance. With zero tailpipe emissions, EVs also contribute to cleaner air and lower asthma rates, especially in urban areas.

As competition intensifies, Tesla’s ability to adapt quickly could determine its place in the future of mobility.

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