Tesla unveils cheaper Cybertruck variant in U.S., cuts Cyberbeast price to drive demand

New Tesla Cybertrucks are seen at SpaceX's Starship facility in Starbase, Texas, Monday, Oct. 13, 2025. (AP Photo/Eric Gay)

Tesla unveiled a cheaper Cybertruck variant in the U.S. late 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.

The Cybertruck was touted by CEO Elon Musk as a futuristic competitor to mass market pickup trucks from legacy brands such as Ford, but multiple recalls and quality control issues plagued the car and turned prospective customers away.

Tesla has now priced the new dual-motor, all-wheel-drive model at US$59,990, making it the company’s most affordable Cybertruck yet. In response to a user post on X about the new variant, Musk said the price tag was effective only for the next 10 days.

It was not immediately clear what the model will be priced at following the limited-time offer and Tesla did not immediately respond to a request seeking clarification.

The company lowered the Cyberbeast’s 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.

The Cybertruck was touted by CEO Elon Musk as a futuristic competitor to mass market pickup trucks from legacy brands such as Ford, but multiple recalls and quality control issues plagued the car and turned prospective customers away.

The head of Tesla’s Cybertruck program, Siddhant Awasthi, announced his departure from the company in November last year amid slow sales.

Demand slump

Tesla’s core EV business, which still accounts for most of the company’s current revenue, has been under strain as rivals roll out newer and cheaper models. A cut to EV incentives and Musk’s far-right political rhetoric have also alienated some customers.

Price cuts have become a key part of Tesla’s 2026 strategy, lowering entry prices to attract more cost-conscious buyers.

The broader EV market has also slowed since September, when the Trump administration ended the $7,500 U.S. federal tax credits.

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.

Amid the slowdown in EV sales, Musk has made a large pivot to robotics and self-driving, aiming to capitalize on artificial intelligence and the growing autonomous market to position the company as a leader in humanoid robots and robotaxis.

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.

Reporting by Akanksha Khushi and Zaheer Kachwala in Bengaluru; Editing by Janane Venkatraman, Subhranshu Sahu and Devika Syamnath, Reuters