Tesla’s Cybertruck program appears to be spiraling toward catastrophe as unsold inventory skyrockets to a record-breaking 10,000 units, according to a new report.
With low demand and backlash over the active role its chief executive, Elon Musk, has taken in the Trump administration, the company is facing some of its toughest challenges since the divisive electric truck’s debut.
Just last month, Tesla reported ending the first quarter of 2025 with 2,400 unsold Cybertrucks, which go for $80,000 for base models and more than $100,000 with all the bells and whistles. That unsold figure has now ballooned exponentially to 10,000 vehicles, according to inventory analysis from Tesla-Info.com.
The huge glut of available Cybertrucks means Tesla is sitting on inventory worth between $800 million and $1 billion.
Meanwhile, the news got worse for the company as an American pension fund in Pennsylvania this week became the first to officially slam the brakes on new Tesla stock buys.
“Elon Musk’s choice to become a political figure rather than a customer-focused leader has compromised the Tesla brand,” the Lehigh County controller, Mark Pinsley, said in a joint statement with Tesla Takedown, which organizes protests against Mr. Musk.
“Tesla’s earnings are down 71% from a year ago, their auto revenues have dropped 20%, and profitability has taken a sharp plunge. We owe it to our retirees and taxpayers to take a hard look at whether these are wise investments at this time,” Mr. Pinsley said.
With $500 million in county pension assets hanging in the balance, the board voted 4-2 this week to cease new Tesla investments. The board also tasked its investment manager with drafting a roadmap to divest Tesla holdings from passively managed funds altogether.
Lehigh County isn’t alone in its frustration. Earlier this year, 51 New York legislators called for completely dumping the state’s $1 billion in Tesla holdings.
Tesla’s stock has been in freefall, plunging more than 27 percent in 2025 alone as the company’s performance repeatedly misses expectations. The company’s Q1 revenue disappointed, and Mr. Musk announced during an earnings call that he’s stepping back from his role in the Trump administration.
But it’s not only an issue in the United States — the rebuke has gone global. The Netherlands’ largest pension fund ditched its $600 million Tesla stake in January. Denmark’s $20 billion AkademikerPension followed suit shortly after. In Canada, the nation’s largest public-sector union also is urging pension funds to break up with Tesla entirely.
On the huge unsold inventory, Electrek‘s editor-in-chief, Fred Lambert, known for his extensive coverage of Tesla, noted that Tesla’s approach to listing inventory paints a more dire picture than it initially seems.
“Sometimes, Tesla may have many vehicles with the exact same configuration at the same location, and it will only publish a single listing for it,” Mr. Lambert wrote. Thus, the real inventory numbers might be higher than reported, he said.
To combat shrinking demand, Tesla is slashing Cybertruck prices, with discounts reportedly exceeding $10,000 in some cases. By mixing pricing strategies across American regions, Tesla has inadvertently increased the diversity of its inventory listings, creating the appearance of broader availability. But these tactics may not be working.
Faced with a mountain of unsold trucks, plummeting demand, and public criticism, Tesla’s Cybertruck program stands at a crossroads. Mr. Lambert summed up the situation succinctly in his recent report, calling the program “a crisis” and raising serious doubts about Tesla’s ability to recover.
“This is about as bad as it gets,” Mr. Lambert wrote.