Tesla Cybertruck Faces Slowing Demand After Strong 2024 Debut

Despite initial success as the best-selling electric pickup in the U.S., Tesla's Cybertruck sales are declining, prompting production adjustments.

Tesla sold 38,965 Cybertrucks in 2024, making it the best-selling electric pickup truck in the U.S. for the year.
Demand for the Cybertruck has declined, with Q4 2024 sales dropping 22% compared to Q3, signaling waning consumer interest after an initial surge.
Tesla has reassigned some workers from Cybertruck production to the Model Y line at its Austin Gigafactory, reportedly due to higher profit margins on the Model Y.
The Cybertruck's inventory is increasing, with vehicles piling up on lots and sales taking longer to complete, while Tesla has introduced incentives like free lifetime Supercharging and reduced leasing rates to boost demand.
Tesla experienced its first global annual delivery decline in over a decade in 2024, with total deliveries dropping 1.1% year-over-year, despite the Cybertruck’s launch.