Gold Price Today: Bullion Heads for First Weekly Gain as Weak U.S. Jobs Data Eases Rate Hike Fears 
US Resumes Dollar Shipments to Iraq After Months-Long Suspension 
TSMC CoWoS Capacity Forecast Raised as Mizuho Sees AI Server CPU Demand Surging Through 2027 
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says 
Asian Currencies Rise as Dollar Weakens; Yen Holds Steady Amid Japan Intervention Watch 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan 
Apple Challenges India Antitrust Probe, Says CCI Copied Rivals’ Claims in App Store Case 
Meta CEO Zuckerberg Says AI Agent Development Has Slowed Despite Massive AI Investment 
Oil Prices Steady as U.S.-Iran Peace Talks Ease Strait of Hormuz Supply Fears 
Australia Trade Balance Swings to Surprise Deficit as Imports Outpace Exports in May 
Baidu Shares Rally as Kunlunxin Eyes $50 Billion Hong Kong IPO 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
Oil Prices Slip as Oversupply Concerns and U.S.-Iran Talks Shape Market Outlook 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
China Services PMI Beats Forecasts as Strong Demand Supports June Growth 
U.S. Dollar Drops as Weak Jobs Data Boosts Fed Pause Bets, Yen Jumps on Intervention Talk 
Tesla has cut Cybertruck lease prices by 10% in a bid to reinvigorate demand after exhausting its reservation backlog. Challenges such as high pricing and reduced range have prompted Tesla to introduce aggressive sales strategies this quarter.
Tesla Slashes Cybertruck Leasing Costs Amid Sales Challenges
Because Cybertruck is proving to be far more difficult to sell than its massive backlog would have you believe, Tesla has lowered the leasing costs on the vehicle, Electrek reports.
Despite the Cybertruck's divisiveness and numerous detractors, Tesla was confident in its ability to meet demand because it had over a million bookings.
Nevertheless, it was not the outcome. Much of Tesla's Cybertruck backlog vanished because the manufacturing version was significantly more expensive than their original target and the vehicle's range was significantly shorter than what was initially advertised.
Cybertruck Reservations Drop as Production Issues Surface
Before clearing its reservation backlog of more than a million vehicles, Tesla is said to have delivered forty thousand to fifty thousand Cybertrucks.
No reservations are required to purchase one at this time, and in the United States, you can have it delivered in a matter of days.
In addition to being added to the leasing program and the referral program—which essentially amounts to a $2,000 straight discount on the vehicle—the Cybertruck became Tesla's vehicle most fast.
New Cybertruck Lease Rates Aim to Boost Sales
Base lease pricing for the Cybertruck have been cut by 10% or more by Tesla today.
The updated Cybertruck lease rates are as follows:
- AWD: $899 for 36 months with $7,500 down
- Tri-motor Cyberbeast: $999 for 36 months with $7,500 down
In addition, Tesla has just begun offering lease buyouts, despite earlier claims that it would not do so in order to save used vehicles for an unrealized fleet of self-driving cars.
Tesla Targets Record Sales with Cybertruck Incentives
Among Tesla's numerous initiatives to increase sales this quarter is the lowering of Cybertruck lease costs. The carmaker is aiming for record sales of more than 515,000 automobiles so that deliveries are not decreased during the year.
