Despite lower-than-expected sales and recalls, Tesla has increased the price of its most costly Cybertruck pickup truck model by $15,000 in the US.
The significant increase comes after a protracted deployment during which sales of the truck have fallen short of initial projections and have failed to live up to Tesla’s early promises.
The Cyberbeast model, which is currently available for $114,990, has a new “Luxe Package” that includes free access to its network of Superchargers and Supervised Full Self-Driving. Other Cybertruck models’ prices remained the same.
The model’s price is far more than CEO Elon Musk’s 2019 proposal, which called for a starting price of about $40,000. However, Tesla put the base model’s price at $60,990 when it was introduced in late 2023, which was more than 50% more than the initial goal.
As Cybertruck prices rise, competition is fueled by rival vehicles like Ford’s F-150 Lightning and Chevrolet’s Silverado EV, which often have cheaper entry prices on some variants. Additionally, Tesla has been giving some Cybertruck units in stock significant discounts of about $10,000.
Musk previously warned of a challenging production ramp and stated that Tesla could build over 125,000 Cybertrucks a year, with the potential to reach over 250,000 in 2025.
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