Tesla is reportedly scaling back its Cybertruck production targets, moving workers away from the line amidst disappointing sales figures. Only 50,000 Cybertrucks have been sold since its late 2023 launch, far short of the ambitious goal of 250,000 annually by 2025. Significant unsold inventory, estimated at $200 million, and struggles with demanding pricing have compounded the situation. The company faces broader sales declines and increased investor frustration, exacerbated by a series of executive exits. A new entry-level Cybertruck has been released, but market interest remains uncertain.
According to Business Insider, the EV maker has dropped production targets for several Cybertruck lines over the last few months and is moving workers from the line.
Tesla has sold a mere 50,000 Cybertrucks since it went on sale in late 2023, well short of the 250,000 targets promised by Elon Musk.
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