Tesla Inc. is reportedly holding over 10,000 Cybertrucks in U.S. inventory, amounting to more than $800 million in unsold vehicles, according to Electrek. Despite lacking an official unit-tracking system, analysts flagged bulk listings as a sign of excessive supply. Tesla has been facing declining sales in the U.S. and Europe, with its European market share falling to 2% from 2.9% last year. The company repositioned the Cybertruck as a rugged, utilitarian pickup and introduced a cheaper RWD variant to broaden its market appeal. Tesla's new vehicle registrations declined in California, and its profits dropped over 71% year-over-year.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Tesla is reportedly holding over 10,000 Cybertrucks in U.S. inventory,
00:06accounting to more than $800 million in unsold vehicles, according to Electrak.
00:09Despite lacking an official unit tracking system,
00:12analysts flagged bulk listings as a sign of excessive supply.
00:15Tesla has been facing declining sales in the U.S. and Europe,
00:18with its European market share falling to 2% with 2.9% last year.
00:22The company repositioned this Cybertruck as a rugged, utilitarian pickup
00:26and reduced a cheaper RWD variant to broaden its market appeal.
00:30Tesla's new vehicle registrations declined in California
00:32and its profits dropped over 71% year-over-year.
00:36For all things money, visit Benzinga.com slash GSTV.