Tesla’s Cybertruck inventory in the United States reportedly amounts to about $200 million, with sales proving difficult despite over a year and a half of increased production and promotion. The challenge lies in the truck’s poor market performance, leading to a buildup in Tesla’s stock.
Despite initial claims that low delivery numbers were due to production delays and the higher cost of the Foundation Series, there is no longer an excuse for the slow sales of the Cybertruck. This year, the company has drastically reduced production to manage its growing inventory.
As of March, Tesla faced further setbacks when the company had to halt deliveries of the Cybertruck due to a defect involving trim pieces detaching from the vehicle. This issue was addressed with a fix introduced on March 21, but existing deliveries still require repairs. Tesla currently holds nearly 2,400 unsold units, equating to a significant financial value.
Additionally, Tesla has reportedly ceased accepting Cybertrucks as trade-ins. Many owners who sought to trade in their vehicles for newer models were informed that Tesla would not accept its own vehicles for trade-in. Some customers have experienced extended service waits, prompting them to seek buyback solutions via the Lemon Law.
The resale value of used Cybertrucks has also dropped sharply, falling by 55% compared to last year, with a 13% decrease over the past three months alone. This depreciation, coupled with the lack of trade-in options, has deterred prospective buyers, leading to concerns about price stabilization.
Tesla’s challenges have been compounded by global protests targeting the company’s properties, including dealerships, factories, and charging stations. These protests, some of which have turned violent, reflect widespread dissatisfaction with CEO Elon Musk’s political affiliations and controversial actions. Protesters have raised their voices against Musk’s perceived connections to far-right political movements and his alleged involvement in political decisions, including his advisory role to President Donald Trump. The protests have included acts of vandalism and have intensified due to Musk’s stance on various social issues.
Moreover, Musk has made statements regarding the dismantling of government agencies he claims contribute to wasteful spending, further adding to the contentious atmosphere surrounding the company.
