Tesla reportedly has $800 million worth of unsold Cybertrucks that 'nobody wants.'
The electric vehicle company has had a pretty rough year to say the least. Despite being the company that catapulted Elon Musk to rank as the richest man in the world, Tesla has taken a massive plunge this year.
Since the tech mogul took on a new government role as head of the Department of Government Efficiency (DOGE), he’s had his hands full trying to scrape $2 trillion in savings out of the federal budget.
As a result, Tesla's brand and market value have taken a hit with worldwide protests and vandalism targeting the company, and investors claiming the CEO should step down.
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Revenue from the electric car sales dropped a staggering 20% last quarter, and the company’s overall net profit is down a whopping 71% year-on-year.
Investors and analysts are suggesting that Musk's close ties with the White House and Trump-ally is turning Tesla into a political symbol is directly impacting the company's image.
Now, Tesla has reported that it's sitting on a mountain of over 10,000 unsold Cybertrucks worth a jaw-dropping $800 million.
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Despite Musk’s ambitious goal of selling 250,000 Cybertrucks annually, Tesla barely managed to move 6,400 units in the first quarter of 2025.
Adding fuel to the fire, major shareholders like Kimbal Musk selling stocks and fears of what President Donald Trump's tariffs could do to the brand have only worried potential customers further.
Last month, Musk tried to revive the company by ordering a Tesla fire sale and knocking $10,000 off the high-tech Cybertruck's eye-watering price tag. Additionally, the SpaceX founder tried rolling out a cheaper $69,990 Rear-Wheel Drive model introduced in April, but sales barely budged.
This is almost unsurprising as it’s been slammed for stripping away key features like adaptive suspension, the rear lightbar and bed outlets.
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So, even with massively discounted financing, Tesla can’t seem to move these things.
To make matters worse, Tesla been plagued with recalls over everything from sticky accelerators to faulty doors which is continuously hurting consumer confidence.
According to Business Insider, Tesla is reportedly 'throttling' Cybertruck production and reallocating workers from its assembly lines. Production has been scaled back, with staff quietly redirected to focus on the more dependable and profitable Model Y.
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Tesla’s brand has always been about pushing the envelope, as seen in its over-eccentric YouTube reveals, but now it seems they may have gone a step too far. Customers today crave practicality, reliability, and a design that works in everyday life, which is more than a flashy reveal can offer.