Cybertruck was a highly anticipated Tesla car that could never fulfill its potential. The EV maker is now striving to increase Cybertruck sales by offering interest-free financing to buyers in the United States.
According to Tesla's announcement, US-based customers can now buy a Cybertruck with a 0 percent Annual Percentage Rate (APR). This is one of the biggest discounts Tesla has ever announced for its EV models, and it is given to buyers who choose Tesla's $8,000 Full Self-Driving Package. The offer is valid until the end of this month.
While the Tesla Model 3 and Model Y were already on sale with 0% APR, extending the same subsiding plan to the Cybertruck could potentially cost Tesla significant money. The Tesla Cybertruck with Self-Driving Package currently costs around $88,000. A 0 percent APR means the automaker loses around $10,000 in the financing process, which could affect its bottom line.
Offering financial incentives to buyers is a common practice among automakers. However, Cybertruck sales have declined significantly over the past year, exceeding its US inventory to over 10,000 units in May.
In 2019, after Cybertruck's announcement, Tesla claimed it had received over 1 million requests for its latest EV. At the time, the automaker said each Cybertruck costs $39,900 and makes it to the market in 2021. However, the EV truck finally reached the market in 2023 with a $60,990 price tag.
Also, the tri-motor version of Cybertruck was advertised with a range of 500 miles, but this version arrived at the market with a range of 320 miles.
Following Elon Musk's controversies in the Department of Government Efficiency, Tesla sales dwindled worldwide, and even many people decided to boycott the EV maker. Tesla's report for Q1 2025 shows the company's profit has declined by 71 percent.
Also, after Elon Musk's recent faceoff with US President Donald Trump, Tesla stock fell 14 percent, leading to a $152 billion loss in market cap.
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