Tesla Raises Prices on Cybertruck Almost No One Will Buy

By Douglas A. McIntyre Published Aug 25, 11:20AM EDT

Quick Read

Tesla raised Cybertruck prices $5,000 despite sales collapsing 48% to just 20,237 units in 2025.
Ford (F) discontinued the F-150 Lightning and Rivian (RIVN) delivered just 12,194 vehicles in Q2, confirming Americans broadly reject large EV pickups.
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Tesla Raises Prices on Cybertruck Almost No One Will Buy — © Lcaa9/ CC BY-SA 4.0

According to Reuters, Tesla (NASDAQ: TSLA | TSLA Price Prediction) has just raised the price of its Cybertruck. It may be Tesla’s least successful launch. The news service reports, “The company increased the price of its Cybertruck dual motor and premium all-wheel drive by $5,000 to $74,990 and $84,990 respectively.” The decision doesn’t make any sense.

Tesla started to sell the Cybertruck on November 30, 2023. Tesla first announced it plans to build the vehicle when Elon Musk unveiled a prototype on November 21, 2019. Musk commented at the time, “The apocalypse could come along at any moment, and here at Tesla we have the finest in Apocalypse technology.”

According to Cox Automotive, Cybertruck sales dropped sharply by 48.1% from 38,965 units in 2024 to 20,237 units in 2025. “Cybertruck Called the Biggest Flop in Automotive History,” a recent 247WallSt. headline read. Looking at the first quarter of this year, Cox reports unit sales were only 3,519.

The Cybertruck is not the only evidence that Americans do not want full-sized EV pickup trucks. Ford (NYSE: F) believed its F-150 Lightning would sell hundreds of thousands of units a year. Ford discontinued the product just a few months ago.

And, perhaps the best sign EV pickups have not done well and never will is sales of the Rivian (NASDAQ: RIVN) pickup model. Across all its models, Rivian only delivered 12,194 vehicles in the second quarter. Rivian’s pickup is the R1T. Its base price is just below $80,000.

The base model of the Cybertruck is priced just below $75,000. The top-of-the-line model is priced at $100,000. The price increase seems indefensible.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.