Tesla halts Cybertruck deliveries as glued panels come apart
What's the story
Tesla has reportedly put a hold on the delivery of its futuristic Cybertruck after several owners complained about the vehicle's trim pieces coming unglued. The stainless steel, all-electric pickup has been in the spotlight after a few customers took to an online forum to raise their concerns. Tesla informed these customers about a delay in deliveries, Electrek, a news site focused on EVs, reported.
Market impact
Tesla's stock plummets amid delivery suspension
Tesla's stock has been on a downward trend for weeks now, and the latest news of Cybertruck delivery suspension only adds to its woes. The company's shares fell to around $237 each on Monday, a far cry from an all-time high of nearly $480 per share in mid-December after Trump's election victory. Analysts blame backlash against CEO Elon Musk and increased competition from Chinese EV manufacturers.
Containment hold
Tesla's response to Cybertruck delivery suspension
Tesla has reportedly put Cybertruck deliveries on "containment hold," Electrek reported. The move is typically employed when an automaker detects an issue with freshly manufactured vehicles and postpones deliveries to rectify the problem before they reach the customers. The approach is intended to minimize the chances of a recall later. However, Tesla has not yet commented on this development.
Structural reliability
Cybertruck's adhesive issue raises concerns
Several Cybertruck owners have claimed that a boomerang-shaped trim piece along the roofline detaches while driving at high speeds. In two cases reported to federal authorities, the part was seen flying off the vehicle. Reid Tomasko, a Cybertruck owner and car-wrapping business owner, captured such an incident on his vehicle's onboard camera. He demonstrated that the trim piece is attached with adhesive, not bolts or welding, raising broader concerns about the vehicle's structural reliability.
Sales strategy
Tesla's sales strategy amid delivery suspension
Despite the ongoing issues, the Cybertruck continues to be the best-selling electric pickup on the market. However, its sales have been below expectations. To drive sales in the midst of this, Tesla has introduced low 2% financing rates and stripped badges from unsold Foundation Series models to clear inventory. The Foundation Series was a limited-run edition of the Cybertruck for early buyers with unique badging and design elements.