Tesla, Inc. (NASDAQ: TSLA)’s Cybertruck discounts are bad news for the stock price. The company announced a series of discounts in early January that suggest tepid demand in what should be a growth driver.

The latest Tesla app indicates that the Cybertruck RWD will not come with Powershare or a powered tonneau cover, two of the pickup's most appreciated features

Tesla is declaring the Cybertruck to be “America’s bestselling electric pickup truck in 2024.” And yet, for the first time, the company is offering discounts of up to $2,600 on the low-poly truck, a sign that demand may not be as strong as Tesla would like you to think.

Cybertruck emerged as the bestselling electric pickup in the U.S. over Q2 2024 as production ramped up and the company focused on fulfilling the backlog of orders.

The electric vehicle maker is offering discounts of $1,600 up to $3,270 on 12 Cybertruck models, according to its website. The least-expensive Cybertruck is currently available for as low as $78,390, down from about $80,000 previously. CNBC reported Wednesday that the discounts started this week.

It’s helping both of their stocks. Tesla plans to launch a self-driving robotaxi service at the end of 2025. Alphabet’s self-driving robotaxi company Waymo already operates in four cities—Phoenix, Los Angeles,

The Magnificent Seven stocks have grabbed investors’ attention for quite some time, with their surging share prices and market capitalization exceeding $1 trillion. However, a new set of stocks, including one of the Magnificent Seven,

Tesla (NASDAQ:TSLA) may see its core EV business facing some challenges, but its lofty valuation reflects confidence in future game-changers like