Is Tesla's Cybertruck losing its mojo? Brand new inventories are being sold for huge discounts in the U.S.
Tesla is actually experiencing some early signs of demand challenges with Tesla CEO Elon Musk already implementing price cuts just one quarter after launching its non-Foundation Series models, reported Fortune. The entry level all wheel drive version which is being priced at around $80,000 is already seeing discounts up to $1,700 depending on the location and trim.
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According to Fortune, initially, Tesla appeared to have a strong order book with approximately 39,000 vehicles sold in its first production year while surpassing the Ford F-150 Lightning. However, during recent times the truck has fallen totally short of its original ambitious specifications.
The Cyberbeast model now costs $100,000 instead of the projected $70,000 with the range being also reduced from 500 to 320 miles.
Eminent challenges include initial quality issues, difficulty obtaining insurance and a polarizing design. Tesla CEO Elon Musk himself acknowledged the potential risk while stating the truck ‘looks like it was made by aliens from the future’, asserted Fortune. In spite of having deposits potentially covering eight years of production, the discounts now suggest that Tesla is actually struggling to maintain the projected demand.
Tesla as a company anticipates producing 250,000 units
