Reportedly, Tesla is sitting on $800 million worth of unsold Cybertrucks that “nobody wants.”
The electric vehicle company has faced a rather challenging year. Despite propelling Elon Musk to the rank of world’s richest man, Tesla has experienced a significant downturn this year.
Since the tech mogul assumed a new government role as head of the Department of Government Efficiency (DOGE), he has been occupied with efforts to cut $2 trillion in savings from the federal budget.
Consequently, Tesla’s brand and market value have suffered due to worldwide protests and vandalism targeting the company, with investors suggesting the CEO should step down.
Revenue from electric car sales plummeted by a staggering 20% last quarter, and the company’s overall net profit has decreased by a substantial 71% year-on-year.
Investors and analysts suggest that Musk’s close ties with the White House and a Trump ally are turning Tesla into a political symbol, directly impacting the company’s image.
Now, reports indicate Tesla is holding a massive inventory of over 10,000 unsold Cybertrucks, valued at a jaw-dropping $800 million.
Despite Musk’s ambitious goal of selling 250,000 Cybertrucks annually, Tesla barely managed to sell 6,400 units in the first quarter of 2025.
Adding to the difficulties, major shareholders like Kimbal Musk selling stocks and concerns about potential tariffs from President Donald Trump have further worried potential customers.
Last month, Musk attempted to revive the company by initiating a Tesla fire sale, offering a $10,000 discount on the high-tech Cybertruck’s expensive price tag. Additionally, the SpaceX founder introduced a cheaper $69,990 Rear-Wheel Drive model in April, but sales showed little improvement.
This is hardly surprising, as the vehicle has been criticized for removing key features such as adaptive suspension, the rear lightbar, and bed outlets.
Musk has been less involved in Tesla’s operations this year.
Consequently, even with heavily discounted financing, Tesla appears unable to sell these vehicles.
To worsen matters, Tesla has been affected by recalls concerning issues ranging from sticky accelerators to faulty doors, continuously damaging consumer confidence.
According to Business Insider, Tesla is reportedly “throttling” Cybertruck production and reassigning workers from its assembly lines. Production has been reduced, with staff quietly being redirected to focus on the more reliable and profitable Model Y.
Tesla’s brand has historically been about pushing boundaries, as evident in its over-eccentric YouTube reveals, but it now seems they may have gone too far. Today’s customers prioritize practicality, reliability, and a design suitable for everyday use, which extends beyond a flashy unveiling.
