Tesla Turbocharges Cybertruck Sales: Lower Lease Prices And Bigger Incentives

Tesla is taking aggressive steps to boost Cybertruck electric vehicle (EV) sales, reducing lease prices and expanding referral discounts as the company navigates momentum with its electric flagship truck.

Tesla Slashes Cybertruck Lease Prices

In detail, Tesla has significantly reduced lease prices for the Cybertruck, with the All-Wheel Drive (AWD) model now available at $899 per month and the high-end Cyberbeast model at $999 per month, both requiring $7,500 down for a 36-month term. This represents a substantial drop from previous pricing, with the AWD model lease decreasing from $999 to $899 and the Cyberbeast from $1,148 to $999.

Despite possessing over 1 million initial reservations, Tesla has reportedly delivered only between 40,000 and 50,000 Cybertrucks, far short of expectations. The actual production model’s higher price and reduced range compared to original promises have caused many potential buyers to withdraw their reservations.

Adding Incentives with Referral Discounts

In a further effort to stimulate sales, Tesla has expanded its referral program, offering a $2,000 discount on the Cybertruck. This brings the base AWD model’s effective price down to $79,985, essentially covering the vehicle’s destination fee of $1,995.

The Foundation Series Cybertruck is also being marketed with additional incentives, including premium accessories such as an Off-Road Light Bar, Powershare Home Backup capability, Full Self-Driving (Supervised), and various interior enhancements.

Targeting Q4 Sales Goals

Moreover, these strategic moves come as Tesla aims to achieve its Q4 sales target of 515,000 units. The company will announce its quarterly results on January 29, 2025, and these aggressive pricing and marketing strategies appear designed to boost delivery numbers.

Interestingly, the Cybertruck can now be ordered without a reservation and delivered within days in the United States (U.S.), a stark contrast to the initial high-demand narrative. The company has also begun offering lease buyouts, a practice it previously claimed it would avoid.

Referral Program Bonuses

The referral program comes with additional perks, including three months of free Full Self-Driving Supervised and unlimited Supercharging for vehicles delivered before December 31st. However, potential buyers may face challenges with Supercharger access as other automakers begin adopting Tesla’s North American Charging Standard (NACS) ports, showing the benefits of EV adoption and the need for increasing charging infrastructure.

Read More: Tesla’s 2024 Holiday Update: A Sleigh Ride Of New Innovative Features

A Crucial Test for Tesla’s EV Strategy

As Tesla continues to navigate the challenging EV market, the Cybertruck remains a test case of the company’s ability to convert initial excitement into sustained sales.

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