Tesla Has Over 10,000 Units Of Unsold Cybertrucks In Its US Inventory Amid Poor Sales: Report

Tesla Inc. TSLA reportedly has over 10,000 units of the Cybertruck in its domestic inventory as the company grapples with poor sales and an aging line-up of vehicles.

What Happened: Elon Musk's EV giant could be sitting on over $800 million worth of Cybertruck inventory, according to an Electrek report on Monday.

The report suggests that despite there not being a way to track Tesla units in the U.S., listings of Tesla models can be tracked. The report also outlines how Tesla may publish a single listing for multiple vehicles at the same location with the same features, which could indicate the company has more inventory.

Tesla did not immediately respond to Benzinga's request for comment.

Why It Matters: Tesla has been grappling with declining sales figures in the U.S. as well as Europe. The company's market share in Europe currently stands at 2%, down from 2.9% last year, and it registered 571 units sold in Spain, according to experts.

Cybertruck also went through a shift in marketing strategy, which positions the vehicle as a capable, rugged pickup truck and expands on its utilitarian quotient. The company also released a cheaper, RWD variant of the Cybertruck to appeal to a wider customer base.

Tesla's new vehicle registrations also fell in California, and the company's profits declined by over 71% YoY. This comes at a time when the company was reportedly exploring a future without Musk, which both the billionaire as well as the company have categorically denied.

Price Action: TSLA currently trades for $280.26 on the NASDAQ, according to Benzinga Pro data.

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