Tesla Workers Told To Stay Home As Elon Musk's EV Giant Extends Memorial Day Break Following 13% Delivery Drop And Surging Inventory: Report

Benzinga

Tesla has paused Model Y and Cybertruck production at its Austin factory for the week of Memorial Day, according to Business Insider. The company instructed hourly workers to stay home or participate in non-production duties. The move comes as the automaker contends with falling deliveries, unsold inventory, and erratic production scheduling. Cybertruck demand appears especially soft, with over 10,000 units reportedly unsold and fewer than 50,000 delivered as of March. The company is offering discounts on the refreshed Model Y and has recently released a cheaper version to spur sales.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Tesla has paused Model Y and Cybertruck production at its Austin factory for the week of Memorial Day, according to Business Insider.

00:09The company instructed hourly workers to stay home and participate in non-production duties.

00:14The move comes after the automakers contend with falling deliveries, unsold inventory, and erratic production scheduling.

00:20Cybertruck demand appears especially soft, with over 10,000 units reportedly unsold and fewer than 50,000 deliveries as of March.

00:28The company is offering discounts on the refreshed Model Y and recently released a cheaper version to spur sales.

00:33For all things money, visit Benzinga.com slash GSTV.

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