Tesla (NASDAQ:TSLA) introduced a more affordable version of its Cybertruck in the U.S. on Thursday and reduced the price of its top-tier Cyberbeast model, as the electric vehicle manufacturer works to stimulate demand for its pickup lineup.
The company set the price of the new dual-motor, all-wheel-drive Cybertruck at $59,990, positioning it as the brand’s “most affordable” Cybertruck offering to date. At the same time, Tesla cut the Cyberbeast price to $99,990 from its previous $114,990.
The pricing adjustment suggests Tesla may be phasing out the optional “Luxe Package,” which had bundled Supervised Full Self-Driving capabilities and complimentary access to the Supercharger network.
That package was added in August last year, when Tesla implemented a price increase for the Cybertruck.
Earlier this month, Tesla also launched a new all-wheel-drive configuration of its best-selling Model Y SUV, priced at $41,990. The variant sits above the entry-level rear-wheel-drive “Standard” version in the lineup.
Demand headwinds
Aggressive pricing moves appear to be central to Tesla’s 2026 approach, lowering entry costs to attract more budget-conscious buyers rather than waiting for the introduction of a new mass-market vehicle.
The broader electric vehicle market has cooled since September, when the Trump administration discontinued the $7,500 federal tax credit. At the same time, Tesla faces growing competition worldwide.
Market analysts have cautioned that an increased mix of lower-priced vehicles could weigh on profit margins unless Tesla can counterbalance the impact through manufacturing efficiencies or higher contributions from software and service revenues.
Last month, CEO Elon Musk said Tesla would cease production of its Model X SUV and Model S sedan, reallocating space at its California facility to focus on manufacturing humanoid robots.