Cybertruck Price Cut for Non-Foundation Models Ahead of 2025 Release

The IRS, which manages the federal EV tax credit program, has surprisingly added a single-motor Cybertruck to its list of eligible electric vehicles for 2025. Before the Cybertruck’s debut, Tesla had a reservations list featuring a rear-wheel drive (RWD) model as the least expensive option, the one that Elon Musk mentioned would begin at around $40,000 long ago.

Tesla’s Launch Strategy

However, Tesla initially rolled out only the pricier dual- and tri-motor Cybertruck models, including exclusive Foundation Series options that commenced at $100,000. Elon Musk suggested that the base single-motor electric pickup would be saved for a 2025 release, anticipating that by that time, the company would have enough supply of 4680 batteries and that early buyers would have snatched up the more costly variants.

Current Developments

It looks like that moment has arrived. Not only has Tesla halted the production of Foundation Series trims, but they’ve also begun to manufacture dual-motor and Cyberbeast trucks priced $20,000 less. Additionally, Tesla is now implementing direct price reductions on non-Foundation series Cybertrucks.

The initial price cuts for the Cybertruck are being applied to inventory vehicles, with a reduction of $1,600 or up to $2,630 for demonstration models. When combined with referral and tax credits, the cost of an inventory Cybertruck is now closer to $70,000 rather than $80,000.

Future Pricing Implications

Whenever Tesla introduces discounts on inventory, it typically follows up with a more significant price drop. Therefore, a direct price cut on the Cybertruck is a possibility. If the IRS has preemptively listed the RWD Cybertruck as an eligible 2025 vehicle based on information from Tesla, this could potentially lower the starting price to around $60,000.

While it won’t reach the promised $40,000 from years ago, it’s certainly a far cry from the $100,000 launch price. This could lead to a noticeable increase in new Cybertruck sales later this year, especially as initial enthusiasm fades and manufactured models sit unsold.

Impact on the Used Market

Nonetheless, a more affordable RWD Cybertruck, along with reduced prices for the dual- and tri-motor versions, is likely to significantly impact the second-hand market. Many buyers who paid over a hundred thousand for Tesla’s first electric pickup might see their investment plummet by as much as 30% in value within the first year of ownership.

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