Tesla slashed the price of its futuristic Cybertruck by $20,000 in late February 2026, dropping the dual-motor all-wheel drive model from nearly $80,000 to just $59,990. The electric vehicle maker also cut its high-performance Cyberbeast trim from around $115,000 to $99,990. But there was a catch: the promotion lasted only ten days, ending around March 1st.
This flash sale created artificial urgency, pushing buyers to order immediately or risk missing out. Elon Musk warned that prices would depend on demand after the promotional period. He wasn’t bluffing. Once the limited offer expired, the all-wheel drive model jumped back up to $69,990, a 17% increase. The Cyberbeast remained at $99,990 with delivery times of 10 to 12 weeks.
The dramatic price cuts signal trouble for the angular electric pickup. Sales have been disappointing since the Cybertruck launched in 2023. In 2024, Tesla sold fewer than 39,000 units.
By 2025, that number dropped to just over 20,000, a 19% decline. These figures fall far short of Musk’s ambitious target of 250,000 Cybertrucks annually. In fact, the Cybertruck experienced the worst sales downturn among electric vehicles in the recent year.
To make the new base model more affordable, Tesla trimmed some features. The cheaper version comes with a 7-speaker audio system instead of 15 speakers, cloth seats rather than premium upholstery, and no rear touchscreen. However, it still offers dual motors, a 325-mile estimated range, a powered tonneau cover, adaptive damping, and Powershare outlets.
The stainless-steel truck can accelerate from 0 to 62 mph in 4.1 seconds and retains its large cargo bed with an integrated ramp.
Even after the price increase, the Cybertruck remains competitive at $69,990, undercutting rivals like the Rivian R1T and Chevrolet Silverado EV. Tesla also offers a lease option at $699 monthly with $6,395 down for 36 months. The company plans to ramp up delivery through its Texas Gigafactory in 2026, hoping renewed interest will finally boost sales. Interest rate shifts can influence buyer demand by changing financing costs and borrowing prices for consumers.
