Credit: Reuters Feb 19 (Reuters) – Tesla unveiled a cheaper Cybertruck variant in the U.S. on Thursday and slashed the price of its most-expensive model, Cyberbeast, as the electric-vehicle maker struggles to find buyers for its pickup trucks.
Tesla priced the new dual-motor all-wheel-drive model at $59,990, making it the company’s “most affordable” Cybertruck yet, and lowered the Cyberbeast price to $99,990 from $114,990.
With the price cut, Tesla looks to be discontinuing its “Luxe Package” for the model that included Supervised Full Self-Driving and free access to its Supercharger network.
Tesla had added the package to its lineup last August when it raised the price of the pickup truck.
Earlier this month, Tesla introduced a new all-wheel-drive variant of its bestselling Model Y SUV, priced at $41,990, sitting above the cheaper rear-wheel-drive “Standard” version.
DEMAND SLUMP
Price cuts have become a key part of Tesla’s 2026 strategy, lowering entry prices to attract more cost-conscious buyers without waiting for a new mass-market vehicle.
The broader EV market has slowed since September, when the Trump administration ended the $7,500 federal tax credits. Tesla is also facing intensifying global competition.
Analysts have warned that a greater share of lower-priced vehicles could keep pressure on margins unless Tesla can offset the impact through reduced manufacturing costs or stronger revenue from software and services.
Tesla CEO Elon Musk said last month that the company would end production of its Model X SUV and Model S sedans and instead use the space in its California factory to make humanoid robots.
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