Tesla has decreased its lease prices on Cybertruck, which has proven much more difficult to sell than its giant backlog led to believe.
While being polarizing and having many critics, Tesla boasted having over 1 million reservations for the Cybertruck, which led the company to believe that demand wouldn’t be a problem.
However, things didn’t play out that way.
A combination of the production version being much more expensive than Tesla’s original goal and the range of the vehicle being much shorter than originally announced led to much of Tesla’s Cybertruck backlog disappearing.
In fact, Tesla is estimated to have delivered between 40,000 and 50,000 Cybertrucks before exhausting its reservation backlog of over 1 million vehicles.
Anyone can order one right now without reservation and have it delivered within days in the US.
The Cybertruck also became Tesla’s vehicle most quickly added to Tesla’s referral program, which is basically a $2,000 direct discount on the vehicle, and it was quickly added to its lease program.
Today, Tesla has now reduced its base lease prices for the Cybertruck by 10% and more:
These are the new lease prices for the Cybertruck:
- AWD: $899 for 36 months with $7,500 down
- Tri-motor Cyberbeast: $999 for 36 months with $7,500 down
Tesla has also recently started to offer lease buyouts for the first time after claiming it wouldn’t because it wanted to keep to used vehicles for a fleet of self-driving cars that has yet to materialize.
This reduction in Cybertruck lease prices is the latest of many of Tesla’s efforts to boost sales this quarter. The automaker is trying to achieve record sales of over 515,000 vehicles in order not to be down in deliveries for the whole year.