Tesla is reportedly sitting on $200 million worth of Cybertruck inventory as sales tank and protests rage against dealerships, factories, warehouses and charging stations across the country
Tesla reportedly has about $200 million worth of Cybertrucks in inventory in the U.S., with the truck described as extremely difficult to sell.
It’s been over a year and a half since Cybertruck ramped up its production and promotion, but it’s been having difficulties getting the trucks onto the street — Tesla’s inventory is building up.
Last year, Tesla blamed low Cybertruck deliveries on the production ramp, its more expensive Foundation Series and the lack of access to the $7,500 tax credit those who purchase electric vehicles get from the federal government.
But this year, those excuses can’t be made — the Cybertruck is simply proving challenging to sell, and Tesla has had to drastically lower production to avoid building up too much inventory.
This was reportedly problematic in March, since Tesla had to put a containment hold on the Cybertruck in anticipation of a recall of units produced to date because of a trim falling off the truck, tech magazine and renewable energy publication Electrek reported.
The fix to that issue was introduced on March 21, but Tesla still needs to fix the Cybertrucks delivered to customers. Tesla finds itself in possession of nearly 2,400 Cybertrucks in new inventory available, which amounts to about $200 million.
Tesla is also reportedly not taking any Cybertrucks as trade-ins, with many Cybertruck owners reportedly trying to trade in their trucks for a newer vehicle and being told that the automaker doesn’t accept its own vehicle as a trade-in.
Some owners who have had their trucks in service for extended periods of time are also reportedly attempting to get Tesla to take them back, but the dealer is forcing them to go through the Lemon Law process.
The prices of used Cybertrucks are falling fast and are down 55% compared to last year, with a 13% decline reported over the last three months alone. It was a 6% decline just last month.
The lack of trade-in options for the vehicle is making Tesla owners reticent about buying one, it was reported. Some have been known to give low-ball offers to potential sellers as they wait to see when the price will stabilize, the tech publication reported.
Tesla’s woes come amid a slew of protests targeting the company’s dealerships, factories, warehouses and charging stations around the world, many of which have become violent.
Angry citizens are lighting cars on fire, defacing them with swastika drawings and even shooting up galleries as they protest Musk and his affiliation with far-right parties worldwide — including his position as an important adviser to President Donald Trump.
Musk heads the Department of Government Efficiency (DOGE), and in that capacity, he has recommended or orchestrated the gutting of several federal agencies he claims are contributing to government waste, including programs that fund cancer research, prevent measles outbreaks like the one occurring in the Southwest and provide aid to countries around the world.
Fed up with the cuts, the protesters are venting their frustrations and also calling on a widespread boycott of Tesla and its products in the hope that the economic blow to Musk will help curb his hungry political appetite.
Musk was seen making a “Nazi salute” on stage at Trump’s victory rally at the Capital One Arena in Washington, D.C., after the inauguration, and many are protesting that and his outspoken transphobia, too.
Musk, Trump and U.S. Attorney General Pam Bondi have vowed to prosecute those found guilty of vandalizing Tesla vehicles or properties as domestic terrorists.
