Photo: businessinsider.com
Tesla Cybertruck Sales Plummet 62% Amid Record EV Demand
Tesla Cybertruck sales fell 62% despite record electric vehicle demand, highlighting challenges for Tesla, Inc. as buyers rush for EVs before tax credits expire.
- Last quarter, Tesla, Inc. sold approximately 5,400 units of the Tesla Cybertruck, marking a staggering 62.6% decline compared to the same period last year.
- Despite this drop, the broader electric vehicle market has seen record sales as consumers hurry to purchase EVs before federal tax credits expire.
- Elon Musk previously estimated that Tesla could produce up to 250,000 Cybertrucks annually, yet nearly two years post-launch, sales have dramatically decreased.
Why It Matters
The significant decline in Tesla Cybertruck sales amidst a booming electric vehicle market raises concerns about Tesla, Inc.s production efficiency and market positioning, potentially affecting its competitive edge in the EV sector.