Sun May 04 15:30:00 UTC 2025: ## Tesla Slashing Cybertruck Prices Amidst Profit Plunge
**AUSTIN, TX –** Tesla is offering significant discounts on its Cybertruck electric pickup truck, with reductions of up to $10,550 available on 2024 models in the US. This follows a previous $6,000 discount and now includes free lifetime Supercharging for all Foundation Series purchases. The move comes as Tesla reported a 71% drop in net income and a 9% decline in revenue during the first quarter, attributed by CEO Elon Musk to shifting political sentiment and trade policy changes.
The Cybertruck, despite being the top-selling electric pickup last fall, faced challenges due to its high price point. This latest price cut aims to boost sales in a competitive EV market that saw 1.3 million vehicles sold in the US in 2024, a 7.3% increase year-over-year. The growing popularity of EVs offers environmental and economic benefits, including reduced pollution and lower running costs for consumers.
Tesla’s decision to discount the Cybertruck may also be a response to increased competition in the EV sector and follows a recent recall of over 46,000 Cybertrucks, the eighth recall in just over a year. The company has since introduced safety upgrades including new tire sensors. Analysts suggest the price reduction is necessary to improve sales, with some suggesting a price point around $40,000 is more competitive. Whether this aggressive discounting strategy will revitalize Cybertruck sales remains to be seen.
First Piper 