The competition in electric vehicles has intensified. Tesla, Inc. (TSLA.US) has discounted some Cybertruck pickup trucks for sale.

According to information on the Tesla, Inc. (TSLA.US) website, Tesla, Inc. will begin offering discounts on the Cybertruck electric pickup trucks in its inventory starting this week. The information indicates that discounts on the new Cybertruck can go up to $1,600, depending on the configuration, while the demonstration versions of the inventory trucks can receive discounts up to $2,630. Reportedly, production of the Cybertruck at the Texas Austin factory has slowed down in recent weeks, although production slowdowns during holidays are quite common in the automotive industry. This week, Tesla, Inc. CEO Elon Musk apologized to California customers for delays in Cybertruck deliveries, citing the need to deploy trucks as mobile stations to address the ongoing wildfires in the Los Angeles area. Musk had previously stated that the company could sell 500,000 Cybertrucks annually, however, Tesla, Inc. only delivered around 40,000 Cybertrucks last year. Tesla, Inc. reports that a total of approximately 1.79 million vehicles were delivered globally in 2024, a 1.1% decrease from the record-breaking 1.81 million delivered in 2023. This is also the first year-over-year decline in vehicle deliveries for Tesla, Inc. since 2011. As of the time of writing, Tesla, Inc. has dropped 1% in pre-market trading.