Latest news with #Cybertrucks
New York Post
36 minutes ago
- Automotive
- New York Post
Dozens of unsold Tesla Cybertrucks pile up in Michigan shopping center parking lot, irking locals
Tesla is under pressure from Michigan authorities after scores of unsold Cybertrucks were discovered parked at a shuttered shopping center in Farmington Hills, prompting concerns about violations of local zoning regulations. Over the past several weeks, local residents and social media users have posted images and videos showing rows of Cybertrucks lined up at Hunter's Square shopping center on Orchard Lake Road. The site is adjacent to a Tesla service center in West Bloomfield, leading to speculation that the facility is using the lot as an overflow site to manage unsold inventory. Reports estimate more than 100 vehicles have accumulated in the space. 4 Unsold Tesla Cybertrucks are parked in the lot of a shopping center in Farmington Hills, Mich. Getty Images Tesla employees collecting the trucks told CBS Detroit that the property is owned by the same party that manages the nearby service center and that the vehicles were scheduled for customer delivery. However, the City of Farmington Hills has taken issue with this explanation. 'The City of Farmington Hills code enforcement office has been in communication with the Hunter's Square shopping center management to resolve the issue,' Charmaine Kettler-Schmult, the city's planning and community development director, told CBS Detroit. 'They have been notified that storage of vehicles is not a permitted use. The enforcement process is being followed and takes time.' Tesla's decision to store the trucks at the site has highlighted the company's struggles in selling the Cybertruck — a model CEO Elon Musk once touted as a groundbreaking entry into the electric pickup market. 4 Social media users have posted images and videos showing rows of Cybertrucks lined up at Hunter's Square shopping center on Orchard Lake Road in Farmington Hills. Getty Images According to data from Cox Automotive, Tesla sold just over 6,000 Cybertrucks in the first quarter of 2025, bringing total deliveries to fewer than 50,000 units since the vehicle's debut. Tesla had originally projected annual sales could reach as high as 250,000 units. In 2024, Tesla delivered around 40,000 Cybertrucks — approximately 10,000 fewer than Wall Street analysts expected. The gap between forecast and reality has led to a substantial buildup in inventory, with Electrek reporting recently that the company had an estimated 10,000 unsold Cybertrucks on hand. In response, Tesla has scaled back production of the truck. 4 The site is adjacent to a Tesla service center in West Bloomfield, leading to speculation that the facility is using the lot as an overflow site to manage unsold inventory. Getty Images The automaker began reassigning workers from the Cybertruck production line to its more successful Model Y operation as early as December 2024, according to employees who spoke to Business Insider. Tesla sales have also sagged amid widespread backlash over Musk's active role as head of DOGE in the Trump administration — which has sparked protests and acts of vandalism. Tesla's brand, once synonymous with cutting-edge innovation, has become increasingly polarizing as the company navigates a series of public relations and logistical hurdles. In December, the company's stock benefited from a 'Trump bump' in the wake of the Nov. 5 election — roaring to an all-time high of nearly $480 a share. 4 Tesla CEO Elon Musk recently announced that he would devote more time to the electric car maker after his stint working in the Trump administration. Francis Chung/UPI/Shutterstock Since then, however, the stock tanked by more than 50% — though it has recovered in recent weeks as Musk has indicated he would devote more time to running the company. The situation is further complicated by a series of recalls that have plagued the Cybertruck since it first reached consumers. Eight recalls have been issued to date, with problems ranging from faulty windshield wipers to delayed rear camera displays. The most recent recall affected nearly 46,000 vehicles — virtually every Cybertruck sold to that point — due to concerns that a stainless steel trim panel could detach while the vehicle is in motion. Representatives for Tesla were not immediately available for comment.
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First Post
a day ago
- Automotive
- First Post
Tesla not interested in manufacturing EV in India, says Union Minister Kumaraswamy
Tesla is not interested in setting up a manufacturing plant in India, even as the country rolls out a new electric vehicle policy to attract global carmakers, HD Kumaraswamy said. Instead, the company wants to sell imported cars through local showrooms. read more Another blow to Musk's Tesla, regulators order recall virtually all Cybertrucks over faulty body strips. Image Credit: Reuters Elon Musk's Tesla is not keen on setting up manufacturing in India, despite the country introducing an attractive electric vehicle policy last year to attract global carmakers to one of the world's largest automotive markets, Union Minister HD Kumaraswamy said. 'Tesla only wants to open showrooms and sell imported cars,' said Heavy Industries Minister Kumaraswamy on Monday, stressing that Musk is unlikely to establish a manufacturing plant in the country any time soon. STORY CONTINUES BELOW THIS AD Kumaraswamy said India will soon invite applications under its electric vehicle (EV) manufacturing policy. He added that carmakers such as Mercedes-Benz, Skoda-Volkswagen, Hyundai, and Kia have expressed interest in producing EVs in India. The government has launched a new scheme offering significant tax cuts on imported electric vehicles for foreign carmakers that commit to local manufacturing. Under the updated plan, companies will be allowed to import a limited number of EVs at a reduced 15 per cent import duty, down from the current 70 per cent, if they agree to invest $486 million in building EVs in India, the Ministry of Heavy Industries said.
Yahoo
3 days ago
- Automotive
- Yahoo
Tesla Admits Its Cybertrucks Lose Their Value Insanely Fast
The struggles never seem to end for Tesla. Elon Musk's embattled electric vehicle empire is floundering on its long-anticipated robotaxi launch as sales plummet to record lows and Tesla bulls dump their stocks. Tesla's Cybertruck — the garish luxury all-electric truck — is no exception to the carnage. With a reputation for breaking down constantly and drawing the ridicule of just about every other driver on the road, the stainless steel tanks aren't exactly a popular choice for car buyers. Earlier this month, news emerged that Tesla was sitting on over 10,000 unsold Cybertrucks, an estimated $800 million worth of inventory. Now, Tesla has decided to start taking Cybertruck trade-ins after over a year of deliveries, and disgruntled customers are already revealing what Tesla is willing to pay for a used rig. Though an AWD foundation series Cybertruck will set you back $100,000, Tesla's only willing to pay $65,400 to take it off your hands — and that's presumably if it has 6,000 miles or less on it, according to Electrek. A screenshot of the trade-in estimate was obtained from a disgruntled poster in the Cybertruck Owners Club, noting that it gives the Cybertruck a depreciation rate of about 34.6 percent in just one year. A typical pickup truck, claims Electrek, should take three to four years to lose that kind of value. It's not exactly shocking news. The cracks had started to show as early as spring of 2024 — just months after Cybertrucks hit the market — as news of the EV's shoddy production quality became well-known. Back then, Tesla didn't accept returns, while resellers were understandably reluctant to get involved, sending the aftermarket price of a new Cybertruck into the toilet. Of course, this is all in stark contrast to Musk's absurd claim that Tesla vehicles would only increase in value, a promise he made back in 2019. "If you buy a Tesla today, I believe you are buying an appreciating asset, not a depreciating asset," he said in an interview. The Cybertruck isn't the only floundering Tesla product. By last year, a 2021 Tesla Model 3 — which retailed for about $40,000 — was reselling for just $23,700, a 29 percent markdown compared to its price in 2023. The used-car average over the same period was just 19.5 percent, according to a used car site. Tesla is also facing fallout from a bizarre leasing program revealed by Reuters last week. Typically, customers will have an option to buy a car outright at the end of their lease. Instead, Tesla's internal policy made potential buyers send their cars back to Tesla, to be part of Musk's "robotaxi" network. Of course, that robotaxi network has yet to actually materialize. In reality, those cars were being outfitted with the latest software updates and flipped to new buyers for much more than they would have sold to those wrapping up a lease. Basically, the writing's on the wall: don't count on a new Tesla's value to go anywhere but down. More on Tesla: Doomsday Preppers Say the Cybertruck Is a Horrible Choice for the End of the World
Yahoo
3 days ago
- Automotive
- Yahoo
Tesla Can't Find Legal Places to Store All Its Unsold Cybertrucks
Tesla is seriously struggling to find enough room for all of its unsold Cybertrucks. In a particularly dramatic example, the increasingly unpopular pickups have been piling up in the parking lot of a shuttered Bed Bath & Beyond store in a Detroit suburb shopping center, Automotive News reports, in a violation of local code. The landlord was notified that the vehicle storage was not "permitted," and local officials have started the "enforcement process," per Automotive News. It's yet another sign that Tesla's Cybertruck has been a major flop. Earlier this month, Electrek reported that Tesla had amassed over 10,000 units worth a staggering $800 million of unsold Cybertruck inventory. The EV maker has also reportedly slowed down production and moved workers from the line entirely at its manufacturing facility in Texas, indicating massively waning demand and growing anti-Tesla sentiment. What to do with all of these unsold Cybertrucks has seemingly become a major issue. A video that went viral on Instagram last week showed rows of the stainless steel-clad vehicles sitting in the otherwise deserted parking lot. "Look at what you're missing," a person in the video joked. "Need a Cybertruck? We got you." Tesla's sales have fallen off a cliff worldwide, largely a result of backlash against Musk's embrace of far-right idealism and a surge in cheaper — and often better — alternatives, particularly from China. The Cybertruck has become the poster child of the burgeoning anti-Tesla movement, resulting in frequent vandalism and outright mockery. And top top it all off, used Cybertruck prices are cratering, making it an extremely costly and unwise investment. More on the Cybertruck: Watch in Horror as Cybertruck Driver Plays "Grand Theft Auto" While Screaming Down Highway on Self-Driving Mode
Miami Herald
4 days ago
- Automotive
- Miami Herald
Surplus Teslas Flood Parking Lot in Detroit Suburb
In the Detroit suburb of Farmington Hills, a vacant Bed Bath & Beyond parking lot has quietly transformed into a holding zone for dozens of unsold Tesla vehicles, mostly Cybertrucks. The unusual sight caught local attention when an Instagram video surfaced showing unregistered EVs sprawled across the asphalt. Since then, the number of Teslas has only grown, drawing concern from city officials. While the vehicles aren't abandoned, city leaders say they shouldn't be there. "Storage of vehicles is not a permitted use" of the land, Farmington Hills' director of planning and community development said in a statement. The city has notified the landlord and is pursuing enforcement, though it admits the process takes time. The swelling number of Cybertrucks parked on the lot is indicative of bigger problems at the electric vehicle maker. Tesla's angular, stainless steel pickup was once the most popular electric truck in the country, but sales are slipping fast. In the first quarter of this year, Tesla delivered only 6,400 to 7,100 Cybertrucks - a sharp drop from about 13,000 in the previous quarter. While some seasonal decline is expected after Q4, the plunge was steep enough for Ford's F-150 Lightning to reclaim the title of best-selling electric pickup. Tesla has a long history of using unconventional overflow lots. It has parked surplus vehicles in everything from mall lots to vacant land near its showrooms. That's likely the case here, as the company opened a nearby store just a mile away late last year in a former Barnes & Noble. The store is one of only a few in Michigan, where Tesla previously faced legal barriers to direct-to-consumer sales. A 2016 lawsuit helped overturn that ban. While Tesla's ability to sell directly to consumers in Michigan marks a big shift, the company is now facing a more localized challenge: what to do with a growing fleet of unsold trucks. The suburban sprawl of unclaimed Cybertrucks may be a symptom of waning interest or overproduction, but to Farmington Hills officials, it's a code violation either way. Whether Tesla will find a new place to store its excess inventory or manage to sell off the lot full of Cybertrucks remains to be seen. Tesla's overflow of unsold Cybertrucks into a suburban Detroit parking lot is more than just an eyesore - it's a snapshot of the company's growing pains. As demand shifts and logistics get messier, even the most disruptive automakers have to play by local rules. Farmington Hills may just want its lot back, but the scene also raises bigger questions about how Tesla will manage its supply, demand, and reputation as it enters a more competitive and less forgiving EV market. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
