Tesla has about $200 million value of Cybertrucks in stock within the US, because the truck is extraordinarily tough to promote.
A 12 months and a half into manufacturing, Cybertruck manufacturing has ramped up, and stock is build up.
Final 12 months, Tesla might blame low Cybertruck deliveries on the manufacturing ramp, the costlier Basis Sequence, and the dearth of entry to the $7,500 tax credit score.
All of these excuses are usually not out there to Tesla this 12 months. The Cybertruck is solely proving difficult to promote, and the automaker has to throttle down manufacturing to keep away from build up an excessive amount of stock.
This proved problematic in March as Tesla needed to put a containment maintain on the Cybertruck in anticipation of a recall of models produced to this point over a trim falling off the truck.
On the manufacturing stage, the repair was launched on March twenty first and Tesla nonetheless wants to repair Cybertrucks delivered to prospects.
Within the meantime, Tesla finds itself holding extra Cybertruck stock than ever, with virtually 2,400 Cybertrucks in new stock out there (by way of Tesla-Data):
That’s round $200 million value of Cybertrucks.
With Tesla having points promoting new Cybertrucks, the automaker is reportedly not taking any as trade-ins. Many Cybertruck house owners reported making an attempt to trade-in the truck for a brand new automobile they usually had been instructed that the automaker presently doesn’t settle for its personal automobile as a trade-in.
Some house owners who’ve had their vehicles in service for prolonged durations of time are additionally making an attempt to get Tesla to take the truck again, however the firm is forcing them to undergo the Lemon Legislation course of.
It’s not shocking to see Tesla not desirous to take again used Cybertrucks as their costs are falling quick.
Used Cybertruck costs are down 55% 12 months over 12 months, 13% during the last three months, and 6% during the last month.
As Tesla doesn’t take the Cybertruck as a trade-in, different used automobile sellers are additionally reticent about shopping for the automobile. They’ve been identified to present low-ball presents to potential sellers as they wait to see the place the worth will stabilize.
Electrek’s Take
I believe we’re removed from the underside. With this sort of stock readily available, I count on Tesla to introduce reductions. The corporate is probably going ready to fully unload its Basis Sequence stock earlier than giving larger reductions on the common model.
Then, Tesla is predicted to launch the RWD at a less expensive worth, which can also be more likely to have an effect on used costs.
That’s all whereas Tesla is already throttling down Cybertruck manufacturing.
I’m actually curious to see the place this automobile program goes. I do know many have already written it off, however who is aware of? Possibly it will probably enhance it with a mid-cycle replace subsequent 12 months, and it will probably make a comeback?
