Feb 17, 2025, 20:44 IST Share Large Tesla has increased discounts on its Cybertruck, offering up to $6,000 off for 2024 models, due to slow demand and growing inventory. Efforts to boost sales include marketing some models as less expensive and homologating for Canada. The price, recalls, and production issues have hindered growth despite outselling competitors in the US. Elon Musk-owned Tesla has significantly increased discounts on its Cybertruck in recent days as the electric pickup truck struggles with sluggish demand and rising inventory, a report has said. The automaker faced challenges selling the Cybertruck in 2024, its first full year of production. According to a report by The Economic Times, Tesla is offering discounts of up to $6,000 on available Cybertrucks in the US. This discount is, however, on Foundation Series Cybertrucks and $5,100 on non-Foundation Series Cybertrucks in its inventory. The offers apply to new 2024 model-year vehicles. Previous reports indicated Tesla resorted to removing "Foundations Series" badges from some Cybertrucks to market them as less expensive models and even homologated US-spec Cybertrucks for the Canadian market in an attempt to boost sales. Despite these efforts, inventory continues to accumulate in both Canada and the US. Adding to the complexity, the 2025 Cybertruck model now qualifies for the $7,500 federal tax credit for electric vehicles, while the remaining 2024 models do not. About $2000 discount on Cybertrucks in January In January, Tesla offered discounts of up to $1,600 on new Cybertrucks, with the amount varying by configuration. Demo models currently in inventory were discounted even further, by up to approximately $2,600, according to online listings. Production of the distinctive, stainless-steel pickup truck has reportedly slowed recently at Tesla's Austin, Texas factory, a report by CNBC suggested. Deliveries of the Cybertruck began in 2023, years after its initial unveiling by CEO Elon Musk in 2019. Musk had originally estimated a starting price of around $40,000, but the actual base price in the US during 2024 was closer to $80,000. Despite outselling the Ford F-150 Lightning in the US last year and becoming the fifth best-selling EV domestically (per Cox Automotive data), the Cybertruck's high price, multiple recalls (including a sixth recall in November to replace defective drive inverters), and production challenges in Austin have hindered its growth. About the Author