Tesla slashes cyber truck prices with limited-time offer as EV demand softens

In a bid to jumpstart sluggish sales of its angular pickup truck, Tesla has unveiled a more affordable Cybertruck variant and temporarily reduced the price of its top-tier Cyberbeast model, the company announced late Thursday.

The new dual-motor, all-wheel-drive Cybertruck will carry a starting price of $59,990—making it the most accessible version of the electric pickup to date. However, CEO Elon Musk indicated the pricing is fleeting, responding to a user on his social media platform X that the tag would be effective for only 10 days. Tesla did not immediately clarify what the vehicle would cost after the promotional period ends.

Simultaneously, the company slashed the price of its flagship Cyberbeast model by $15,000, bringing it down to $99,990 from its previous $114,990. The price adjustment appears to coincide with the discontinuation of the “Luxe Package” for the trim, which had included Supervised Full Self-Driving capability and complimentary Supercharger network access. Tesla had introduced that package last August when it last raised the truck’s price.

The moves come as Tesla grapples with cooling demand for the futuristic pickup, which Musk once touted as a rival to mainstream trucks like the Ford F-150. Since its launch, the Cybertruck has been plagued by multiple recalls and quality control concerns, deterring some prospective buyers.

The broader electric vehicle market has softened considerably since September, following the Trump administration’s termination of the $7,500 federal EV tax credit. Tesla’s sales have also felt the impact of Musk’s shifting focus toward robotics and autonomous driving technology, along with his increasingly polarizing political rhetoric, which some analysts suggest has alienated a portion of the company’s customer base.

Price cuts have emerged as a central pillar of Tesla’s 2026 strategy as it attempts to attract more budget-conscious consumers amid intensifying competition. However, industry analysts warn that an increased mix of lower-priced vehicles could further strain the company’s industry-leading automotive gross margins unless Tesla can offset the pressure through manufacturing efficiencies or stronger revenue from software and services.

The pricing adjustments follow the departure of Siddhant Awasthi, the head of Tesla’s Cybertruck program, who left the company in November amid tepid sales performance.