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Tesla Cybertruck Sales Showing Sharp Decline

categories: automotive industry, cars, commerce, technology, tesla

In February, Cybertruck sales saw a decline of 32.5%, and this downward trend has been exacerbated by a recent recall.

Cox Automotive reports that Tesla Cybertruck sales fell by 32.5% in February.
Sales of the Cybertruck have been declining over several months, indicating an issue with customer interest.
The broader negative reaction against Tesla might also be negatively affecting Cybertruck sales.

The Tesla Cybertruck Although it might be America’s top-selling electric truck, recently things haven’t been going well for it. On Thursday, Tesla announced remembering more than 46,000 of these vehicles Essentially every unit produced has been designed to address trim panels that tend to detach during driving. Additionally, it seems that the popularity of this starkly styled pickup is declining.

Sales of Cybertrucks in the United States fell by 32.5%, dropping to approximately 2,619 units from January to February, as reported by Cox Automotive and shared with InsideEVs. This isn’t quite what one would hope for regarding a model that Tesla’s CEO, Elon Musk, frequently refers to as their “greatest product ever.”

The automaker's sales overall dropped by 10% during that same period, and sales of the Model 3 sedan fell 17.5%, the firm said .

Several factors could explain this situation. A potential cause may be Elon Musk. As an un-elected millionaire, he plays a significant role. attempt to reduce government expenditure , potentially illegally, has ignited intense protests at Tesla showrooms and tarnished the brand's formerly excellent standing with progressive consumers. Individuals are parting ways with their Teslas. They vow against purchasing new ones. They're grabbing bold anti-Musk car decals As if they’re becoming obsolete. And the car manufacturer's stock has plummeted this year.

Therefore, it makes sense that the boldest testament to both Tesla and Musk—an aggressive, seemingly indestructible vehicle with a confrontational edge—has not been selling well recently. If Republicans were to widely adopt Tesla going forward, this might change things. This shift could be influenced by President Trump’s potential support. put on a grand display of purchasing a Tesla near the White House lately , and Commerce Secretary Howard Lutnick encouraged viewers to purchase shares of the company on television. However, this assumption holds up only if we consider the significant likelihood that individuals leaning towards the right generally have little interest in electric vehicles.

Moreover, the demand might naturally be reaching its peak for a vehicle that likely wasn’t destined to become hugely popular. tested the Cybertruck , and I find it to be an impressive device. It includes cutting-edge features such as steer-by-wire , four-wheel steer and a 48-volt electrical system . Regardless of whether you appreciate its divisive design or not (personally, I find it appealing—feel free to disagree), it commands notice more than any other car currently available.

Photo by: InsideEVs

The 2024 Tesla Cybertruck.

However, according to numerous auto industry analysts I've spoken with since the Cybertruck became available at the end of 2023, this vehicle is essentially a pricey, unconventional item designed for a specific market segment that won’t be challenging the Ford F-150 anytime soon. During its initial few months on the market, the price was significantly above $100,000; currently, it’s around $70,000—a considerable sum nonetheless. initially listed at $39,900 Musk aims for a lofty production target of 250,000 Cybertrucks each year. However, an analyst from the previous year predicted that it might realistically reach only around 55,000 annual sales.

Certainly, indications of diminishing interest in the Cybertruck have been emerging over several months now. Initially, sales were strong throughout most of last year, reaching almost 17,000 units during the third quarter according to Cox Automotive data. However, these figures dropped to approximately 13,000 units in the fourth quarter.

Photo by: InsideEVs

The 2024 Tesla Cybertruck.

In January, some Tesla factory employees were reassigned from the Cybertruck production line to assist with building the more prolific Model Y. Business Insider reported . Tesla provided a serious incentive— free Supercharging for life —to move limited-edition "Foundation Series" trucks out of inventory. It has lowered the lease price for Cybertrucks Tesla is not alone in offering substantial incentives to boost car sales, but whenever a manufacturer offers such discounts, it indicates that supply exceeds demand.

To be sure, the Cybertruck's many recalls (this is the The second issue relates to loose trim. The delays might have reduced production speed, negatively impacting delivery numbers as Tesla addressed various problems. Despite this recent downturn, the Cybertruck concluded 2024 with an estimated 39,000 sales according to Cox Automotive, securing its position as the top-selling electric pickup in America ahead of competitors such as the Ford F-150 Lightning. Rivian R1T It was likewise the fifth highest-selling electric vehicle in the nation .

Was most of the initial excitement around the Cybertruck due to devoted Tesla supporters? Or does the vehicle genuinely have enduring appeal and potential for development?

Several months of reduced sales do not offer conclusive insights. Moreover, considering Tesla’s declining global sales figures, diminishing excitement around the brand, and the continued absence of the highly anticipated more affordable vehicle, these factors present numerous significant uncertainties—comparable to the Cybertruck-sized questions—that the company must confront heading into 2025.

Have an insider scoop on the electric vehicle industry? Or perhaps you're a Tesla Cybertruck owner with insights to share? Reach out to the author for a chat. Tim.Levin@InsideEVs.com

Mark Kelly Switches Gears: Ditches Tesla for New SUV

categories: automotive industry, car companies, cars, elon musk, tesla

Senator Mark Kelly (D-Ariz.) highlighted his latest initiative on Sunday following he announced The previous week, he abandoned his Tesla due to an ongoing disagreement with Elon Musk, who is the CEO of the electric car firm.

In a video posted Sunday To the social platform X, owned by Musk, Kelly showcased what he referred to as his "new set of wheels" beside a Chevrolet Tahoe SUV in Washington.

Kelly mentioned in the video, "I also have one of these from Tucson. The one here was crafted using union labor from the United Auto Workers in Arlington, Texas. It’s always beneficial to purchase union-made vehicles; they’re extremely dependable," he added enthusiastically. "Plus, I can’t wait to drive this car for numerous years."

It happened only two days after he stated he would seek out a different vehicle because his Tesla was "constructed and created by a jerk."

"Whenever I get into this vehicle over the past approximately 60 days, it makes me think about just how significantly Elon Musk and Donald Trump are impacting our nation," he stated in a video posted last Friday.

"Discussing cuts to Social Security and reductions in healthcare benefits for low-income individuals and elderly citizens, it seems like one negative issue follows another," he stated, referring to Musk’s role in leading Trump’s Department of Government Efficiency (DOGE) initiatives.

Kelly, who previously served as a U.S. Navy combat pilot, mentioned that Musk is also letting go of several veterans.

“I’m a veteran. So, I have a really hard time driving around in this thing,” he said of his Tesla last week. “I think it’s time for an upgrade today.”

"Elon Musk sort of ended up being quite rude, and I wouldn’t want to drive a car made and designed by someone so rude. Looking forward to getting my new vehicle," he mentioned.

Last week, Musk referred to Kelly as a "traitor" on social media after the Democratic senator visited Ukraine earlier this month.

Kelly slapped back at Musk , posted on social media, "Elon, if you fail to grasp that safeguarding liberty is an essential principle behind why America thrives and remains secure, perhaps you should step back and let those of us who comprehend this responsibility handle it."

He later said on MSNBC’s "Rachel Maddow Show," “The only vow I believe Elon might have taken could be a vow to his own bank account, to his wallet."

Kelly’s decision to part ways with his Tesla coincides with a broader movement protesting Musk due to his association with DOGE. This situation has resulted in widespread job cuts, reduced expenditures, and unauthorized access to confidential personal data by DOGE representatives.

Tesla's shares have dropped over 50 percent since the previous year, coinciding with protests emerging at the automaker's dealerships nationwide.

Musk has encountered opposition in Europe due to his critiques of the Ukrainian government and his backing of far-right political groups in the region. The head of Tesla acknowledged on Monday that he is finding it extremely challenging to manage his multiple enterprises alongside handling the responsibilities related to DOGE.

To stay updated with the newest information on news, weather, sports, and live videos, visit The Hill.

Tesla Cybertruck Dunks During Failed Jet Ski Debut (Video)

categories: autos, cars, driving, technology, tesla

The Tesla Cybertruck is a contentious automobile for numerous reasons. We'll avoid delving into political aspects; however, purely considering aesthetics and function, this vehicle from Elon Musk’s massive electric car company features armor-plated, bullet-resistant windows, partial autonomous driving technology, and a styling reminiscent of a shiny steel cube, quite distinct from conventional cars.

Seeing one on the road continues to elicit a second glance, even though they have been around for a while. Their uniqueness sets them apart—whether you consider this an advantage or not.

Anyway, someone owning a Cybertruck recently found themselves in a tricky situation in Ventura, California, when they allegedly attempted to offload a jet ski into the harbor, but ended up driving the car into the water as well. Check out the submerged Cybertruck below:

So, what happened?

According to the Ventura County Star It was reported that the vehicle rapidly rolled backwards down a ramp leading to the water in the 1400 block of Anchors Way... the driver seemingly intended to move forward but mistakenly shifted the truck into reverse, causing it to enter the water.

Fortunately, a nearby towboat company was available, and they managed to retrieve the vehicle from the water.

Related: Dolphins Admitted to Hospital: "As If They Were Struck by a Vehicle"

Per TowBoatUS Ventura :

This morning, we attended to a Tesla Cybertruck that had plunged underwater at the Ventura Launch Ramp. Following coordination with various agencies, our dive team entered the water to secure the vehicle. Simultaneously, a towboat attached to the truck to help extract it from beneath the dock where its front wheels were trapped in a tight corner, causing the truck to sink underneath. Thankfully, our partners at @redline_towing successfully retrieved the truck from the water and onto the parking area, which was cordoned off as a precaution due to potential risks associated with removing the battery from saline water. Post inspection by a Tesla technician, the car was safely transported away without complications.

A remark on the post stated: "Wealth does not purchase intelligence."

Related: Vehicle Washed Away into the Ocean During Malibu Floods (Video)

JPMorgan Predicts Tough Times Ahead for Tesla

categories: finance news, investing business news, news, stocks, tesla

The company reduced Tesla's delivery projection by 20%, indicating that the stock might further decline to as low as $120 per share over time.

The Tesla share price has rebounded approximately 7% after experiencing a significant decline earlier in the week. Nonetheless, it remains roughly 50% below its peak value reached on December 17.
JPMorgan forecasts that Tesla will deliver approximately 355,000 vehicles, which represents a 20% decrease from their initial projection of 444,000.
The company believes that the price of Tesla shares will ultimately fall to $120 per share.

I believe everyone connected to the automotive sector feels somewhat exhausted due to the continuous alterations that have become characteristic of the current Trump administration. Many of these modifications appear to stem from Elon Musk’s influence, whether directly through President Donald Trump or indirectly through his unofficial network often associated with Dogecoin culture.

These changes are not particularly favored by the typical customers who usually buy Tesla vehicles , and so, it appears that Musk and Tesla must face their challenges once more. This week, JP Morgan delivered an unfavorable forecast for the brand, predicting that this would mark Tesla’s poorest delivery performance in three years.

JPMorgan specifically reduced Tesla’s delivery estimate by 20%, lowering it to 355,000 vehicles from an earlier analyst prediction of 444,000. This initial forecast was slightly above the consensus of around 430,000 units held by many others in the industry. Additionally, they believe that Tesla’s stock price could drop significantly further, potentially reaching as low as $120 per share, which would be roughly half of its current value.

Several factors account for this situation. Firstly, the Trump administration's actions played a role. reckless assault on the U.S. market through tariff measures has done nothing but harm automobile manufacturers, including Tesla. Nobody can predict the exact tariffs that automobile manufacturers and their related suppliers might ultimately face. Currently, they may encounter none at all. However, should Canada, Mexico, the European Union, or China inadvertently provoke President Trump in some manner, those tariffs would likely come into play. That isn’t beneficial for any operational company aiming to strategize for tomorrow.

Furthermore, Elon Musk’s activities on the political right, particularly his involvement with X (formerly known as Twitter) and in real-world politics, can no longer be overlooked. What began as provocative posts on social media has escalated to a significant impact on international politics. Many minorities and individuals who do not align with the right wing view this influence as potentially harmful. In a recent instance, he outright referred to Canada as “not a real country,” which fuels an increasingly contentious debate. For the incorporation of the country located to the north of America. This has only encouraged Canadians (as well as people worldwide) to boycott the company.

Furthermore, sales have begun to plummet across much of Europe. The sales in the Chinese market remain robust; however, this will not suffice to maintain that pace. Additionally, numerous Chinese brands have been eroding Tesla’s market share. something even the New York Times covered this week .

Photo by: BYD

BYD Sealion 7

Additionally, the vehicles are somewhat outdated. While the Model 3 and Model Y might have received updates, with the latter being refreshed relatively recently, they remain largely similar to their predecessors. Combine this with Musk’s conduct, along with factors like inflation and elevated interest rates, and Tesla faces an ideal combination of challenges leading to lower sales.

Tesla's troubles emerged squarely during Q1, which means we likely won't get a clear picture of the extent of the issues until the Q2 figures are published in a couple of weeks. Regardless, things aren't looking promising for Tesla. According to JPMorgan, Tesla’s decline at present "stands unmatched" within the auto industry.

"We find it difficult to recall any similar instance in the history of the automotive sector where a brand has lost such significant value so rapidly," the company stated.

Contact the author: Kevin.Williams@InsideEVs.com

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Trump Buys Tesla for Ally but Faces Roadblocks from Secret Service

categories: cars, donald trump, driving, politics, tesla

On Tuesday, Donald Trump transformed the White House lawn into a Tesla showcase in an effort to boost his supporter’s brand.

However, a remark from the president has left people puzzled — does he actually know how to drive the vehicle he ultimately purchased?

Here's what happened.

The Tesla ad

Surrounded by Elon Musk and a throng of journalists, Mr Trump test drove a new vehicle on the White House driveway on Tuesday.

The president came prepared with bundles of paper containing pricing details for each car model along with a sales pitch promoting the company’s products.

Recently, Tesla has faced challenges in the stock market, dropping 45 percent from its peak value of $1.5 trillion back in December when the price was recorded on Tuesday.

Mr Trump informed the assembled journalists that he wished to "send a message" by buying a car from the firm, as Mr Musk had been "unjustly treated."

I plan to make a purchase, and I intend to do so primarily because, first off, it’s an exceptional item, top of its class, and secondly, due to the fact that this individual has dedicated their efforts and existence entirely to bringing this about.

I believe he's being mistreated by a rather small group of individuals, and my aim is to make everyone aware that one shouldn’t face penalties for being a devoted patriot, which he undoubtedly is.

On Truth Social, Mr Trump was earlier falsely claimed "Illegal boycotts" were being carried out by "radical left extremists" against the electric vehicle firm.

He dismissed the notion that purchasing a new vehicle from the planet’s wealthiest individual would be poorly received by his followers who are grappling with cost increases due to taxes imposed on imports from trading nations.

"I believe they will excel," he told a journalist in response.

I believe our nation was forced into this situation; we needed to take action because other countries have seized our economic opportunities and stolen our employment prospects.

The initial modification of the US Constitution safeguards Americans' ability to demonstrate against private enterprises.

The president finally opted for a red Model S, stating he would settle the payment with a cheque.

All of this is controlled by computers," he remarked while gazing at the dashboard. "It’s amazing, wow.

Why isn't Donald Trump able to operate a car?

If you heard Mr Trump's remarks to the media, you might have picked up on his apparently conflicting statement: he could end up purchasing a vehicle, yet isn’t permitted to operate it.

Here comes the unpleasant part: I can’t operate a vehicle since, well, it’s been ages since I last drove, and driving cars is something I really enjoy.

I plan to host it at the White House and will allow my team and others from the venue to utilize it. Everyone is quite enthusiastic about this. The surprising part is that I am prohibited from using it myself.

One of the best parts of my life is that I enjoy driving cars, though I'm not permitted to do so.

It's not because he lacks the knowledge; rather, it's a component of the Secret Service security protocol.

What are the regulations concerning presidents operating vehicles?

Former US presidents, current ones, and vice-presidents are prohibited from driving on public roads.

Rather, they should be managed by their security personnel, who are skilled in executing evasive and defensive driving techniques.

This rule may not be an official law, but it is strictly followed, and generally speaking, presidents comply with it.

Additionally, this does not apply when they are on private land; thus, golf carts at country clubs and vehicles around vast estates appear to be favoured choices for automobile enthusiast presidents looking to drive.

Has it happened before that presidents have driven themselves?

It appears that many ex-presidents have an affinity for automobiles, even though they can only drive them on personal estates.

Appearing on the The first episode of season three for Jay Leno's Garage in 2017 When George W. Bush piloted a Ford pickup truck around his family’s ranch in Texas, he disclosed that he had not been behind the wheel of an ordinary car for over twenty years.

Joe Biden is also an alumnus of Jay Leno's Garage, similar to him. appeared on the show when he was serving as vice-president under President Obama.

He mentioned the tight Secret Service security team, noting that they had allowed an exemption for filming alongside the comedian. The scene shows him speeding away with smoke pouring from tires, while Leno occupied the passenger seat.

During his presidency, former President Barack Obama achieved a "lifelong ambition" by driving a 1963 Corvette. featured in Jerry Seinfeld's Comedians in Cars GettingCoffee .

However, they were restricted to the White House premises, as a guard informed Mr. Obama that he couldn’t unlock the gates to allow them to depart.

Regarding Mr Trump, his fascination with automobiles has been noted several times throughout the years.

A widely known clip posted on social media by his spouse, Melania Trump, captures Mr. Trump tuning into Taylor Swift’s music while driving on a highway back in 2014.

Over the years, he has had ownership of several luxury vehicles, such as a Rolls-Royce Phantom and Silver Cloud.

More recently, during the previous year’s presidential campaign, he spent some time driving a refuse vehicle on an airport runway.