According to Tesla, interest-free financing for the Cybertruck is now available through the end of the month. The action, which amounts to almost a $10,000 reduction, demonstrates how desperate Tesla has become in its attempt to sell the Cybertruck.
After the Cybertruck was unveiled in 2019, Tesla announced that it had received more than one million bookings for the eagerly awaited electric pickup truck.
The vehicle initiative, however, was a complete failure after the production version was introduced in 2023 at over double the price and with a shorter range than initially stated.
Elon Musk, the CEO of Tesla, stated that he could envision the company doubling to half a million trucks annually, surpassing the company’s initial manufacturing capacity of 250,000 vehicles at Gigafactory Texas.
But Tesla ultimately struggled to sell 40,000 Cybertrucks in its first year, and when stockpiles piled up in 2025, the delivery rate dropped even more.
Earlier this year, Tesla started reducing manufacturing and providing larger discounts on its new cars in order to address the demand problems.
The largest Cybertruck discount to date was revealed by Tesla today: 0% APR financing for customers who purchase the truck along with its $8,000 Full Self-Driving Package.
As we recently revealed, Tesla has essentially abandoned its plans to install Autopilot on Cybertrucks, which has led many customers to choose its more costly FSD option instead.
By using FSD to subsidise funding, Tesla is now strengthening its approach.
Though it will be quite expensive for the more premium Cybertruck, the manufacturer has already been giving 0% financing for the Model 3 and cheaper credit for the Model Y.
To subsidise the loans at the present rate, Tesla should lose roughly $10,000 in revenue, which comes to $88,000 (Cybertruck Dual Motor plus FSD).
According to inventory trackers, Tesla has more than 3,700 Cybertrucks in the US, with a total value of more than $300 million.
Tesla is attempting to cut its inventory by the end of the quarter, as seen by the fact that it is only extending this deal through June 30th.
In its second year of production, Tesla appears to be producing roughly 25,000 Cybertrucks annually, which is less than the 40,000 units it produced in its first year.
This is a commercial failure, to put it politely.
When you take into account that Tesla planned to produce 250,000 units annually, it’s even worse.
Let’s examine the effectiveness of a promotion with 0% APR. Though I doubt it will contribute to raising the annualised rate to above 30,000 units, I’m sure it would have a great effect.
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