Tesla raises Model S price to match Cybertruck and Model X at $79,990

In the United States, Tesla faced challenges with the Cybertruck production rate, which was reduced in November 2023 prior to a brief manufacturing halt early in December. Researcher Troy Teslike indicated that production numbers experienced significant cuts, reflecting rising demand issues within the brand. By the end of the third quarter of 2024, Tesla had produced approximately 30,582 Cybertrucks but only delivered about 21,450, leaving a substantial inventory. During this period, Tesla's pricing strategy changed notably as they halted sales of the more expensive Foundation series, opting for regular variants priced about $20,000 lower, further impacting demand. The Cybertruck had just begun deliveries in November 2023, with over a million pre-orders reported earlier, illustrating initial strong interest. However, many reservation holders were deterred by the elevated prices compared to earlier price estimates, contrarily affecting purchasing decisions. This not only posed questions about consumer interest but also resulted in discontent among current Tesla owners regarding Elon Musk’s increasing political endorsements, with reactions manifesting in the form of merchandise and sticker sales aimed at expressing dissatisfaction with his actions. As some enthusiasts considered selling their vehicles or shares, the marketplace and customer sentiments surrounding Tesla were shifting, potentially impacting the company's long-term sales goals for the Cybertruck.