Tesla has announced price reductions on 12 different models of its highly anticipated Cybertruck, with discounts ranging from $1,600 to $3,270. The least-expensive version of the electric vehicle (EV) is now priced as low as $78,390, down from approximately $80,000. This move comes as part of Tesla’s ongoing strategy to stay competitive in the EV market, especially in light of disappointing fourth-quarter delivery results.
According to Tesla’s website, these new prices went into effect earlier this week. However, the company has not yet responded to media inquiries seeking further details on the reasoning behind the discounting strategy.
Q4 Deliveries Fall Short of Expectations
Earlier this month, Tesla reported delivering 495,570 vehicles in the fourth quarter, a year-over-year increase but still falling short of analysts’ projections. The company did not specify how many Cybertrucks were included in that total. It did, however, announce that 23,640 vehicles were categorized as “other models,” which includes cars outside the Model 3 and Model Y lines.
This shortfall in expected deliveries had an immediate impact on Tesla’s stock price, with shares falling 3.5% on Thursday, following a sharp 8% increase the previous day.
A Strategic Move Amid Market Pressures
While the Cybertruck has generated significant attention and pre-order numbers, the recent price cuts appear to be a response to ongoing market pressures and the need to maintain strong sales. Tesla’s pricing adjustments are seen as an effort to keep its vehicles accessible and appealing, especially as competitors increasingly enter the EV space.
As of now, it remains to be seen how these discounts will affect overall demand and how they might impact the timeline for the Cybertruck’s official launch and mass production.
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