Summary

The Tesla Cybertruck is in crisis. The automaker is still sitting on a ton of old inventory, which it is now heavily discounting, and it is throttling down production.

Tesla is expected to currently be selling the Cybertruck at a rate of about 25,000 units a year – a tenth of what Musk predicted.

Tesla began the second quarter with 2,400 Cybertrucks in inventory, valued at over $200 million. Tesla is now offering deeper discounts on the new inventory of Cybertrucks.

The automaker has reduced its Cybertruck production teams and now operates at a fraction of its original capacity.