EV maker Tesla (TSLA) has slashed the price of new Cybertruck vehicles in its inventory, according to listings on its site. Buyers can save up to $1,600 on new non-Foundation Series Cybertrucks and up to $2,630 on demo vehicles. These discounts apply to brand-new trucks without previous owners and are available through Tesla’s inventory page.
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Reports suggest that Cybertruck production has slowed recently at Tesla’s Austin facility, though such slowdowns are common in the auto industry during the holiday season. CEO Elon Musk apologized to California customers for delivery delays and explained that some Cybertrucks were being deployed as mobile base stations to assist with ongoing wildfires in the Los Angeles area.
Previously, Musk estimated that annual Cybertruck sales could reach 500,000 units, but Tesla delivered only about 40,000 Cybertrucks last year. Additionally, 2024 marked Tesla’s first year of declining total vehicle deliveries since 2011, with 1,789,226 vehicles delivered. This was a 1.1% drop from 2023’s 1,808,581 deliveries.
Is Tesla Stock a Buy, Hold, or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 12 Holds, and nine Sells assigned in the past three months, as indicated by the graphic below. After a 93% rally in its share price over the past year, the average Tesla price target of $329.63 per share implies 20.7% downside risk.
