Dec 16, 2024, 1:40 AM
Dec 13, 2024, 12:00 AM
Trump plans to end the $7,500 electric vehicle tax credit
- In November 2024, Tesla reduced the production rate of the Cybertruck amidst demand issues.
- Despite over a million pre-orders, deliveries fell short, leading to an inventory of nearly 9,000 unsold vehicles.
- The company aims to produce up to 250,000 Cybertrucks by 2025, but prevailing market conditions create uncertainty.
In the United States, Tesla's Cybertruck production rate was reduced even before a brief manufacturing halt in December 2024. Researcher Troy Teslike concluded that by the end of the third quarter in 2024, Tesla produced 30,582 Cybertrucks but faced demand issues with only 21,450 delivered, leading to a significant inventory. Demand challenges were highlighted by a production pause announced to workers between December 3 and 5, and a production cut of over 55% on November 10. The company had stopped selling its more expensive Foundation series in favor of more affordable variants and faced disappointing sales post-deliveries, adversely affecting its ambitious production targets for the Cybertruck.
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