Tesla Cuts Cybertruck Prices, Introduces Lower-Cost Variant Amid Slowing Demand
Feb. 20 (GeokHub) - Electric vehicle maker Tesla has unveiled a more affordable Cybertruck model in the United States while reducing the price of its high-end Cyberbeast variant, signaling renewed efforts to stimulate demand for its electric pickup lineup.
The newly introduced dual-motor, all-wheel-drive Cybertruck is now priced at $59,990, making it the least expensive version of the futuristic pickup to date. Chief Executive Elon Musk indicated that the price is part of a limited-time offer, though it remains unclear how pricing may change once the promotional period ends.
At the same time, Tesla lowered the price of its premium Cyberbeast trim to $99,990 from $114,990. The adjustment appears to coincide with the removal of a previously bundled “Luxe Package,” which included supervised Full Self-Driving capabilities and complimentary access to Tesla’s Supercharger network.
Demand Pressures Mount
The Cybertruck, once marketed as a bold competitor to traditional pickups from established automakers such as Ford Motor, has faced headwinds since its launch. Multiple recalls and quality concerns have dampened enthusiasm among prospective buyers, while intensifying competition in the electric pickup segment has added further pressure.
Tesla has increasingly relied on price reductions as part of its 2026 strategy to attract cost-conscious consumers. The broader U.S. electric vehicle market has slowed following the expiration of the federal $7,500 EV tax credit, creating additional challenges for automakers dependent on incentives to support demand.
Industry analysts caution that a greater mix of lower-priced vehicles could weigh on Tesla’s profit margins unless manufacturing efficiencies or software-driven revenue streams offset the impact.
Strategic Shift Underway
The pricing changes come as Musk steers Tesla toward a broader focus on robotics and autonomous driving technologies. The company has introduced fewer new vehicle models in recent years, while rivals have expanded their electric offerings and captured market share.
Last month, Musk announced plans to discontinue production of the Model S sedan and Model X SUV to free up factory capacity for humanoid robot development at Tesla’s California facility — a move underscoring the company’s pivot beyond traditional EV manufacturing.
