According to its website, Tesla has ceased accepting orders for the $61,000 base model of its Cybertruck and is now offering the $100,000 model for instant purchase with delivery as early as this month.
Elon Musk, the CEO of Tesla (TSLA.O), has dedicated significant resources to the development of the Cybertruck and intends to earn $200,000 annually, so the company keeps a careful eye on supply and demand for the vehicle.
Musk claimed in October that Tesla has one million reservations for the truck. Because costs are higher and driving ranges are lower than initially anticipated, some customers have stated they are waiting for less priced models.
According to Guidehouse Insights analyst Sam Abuelsamid, “it shows that demand is a lot less than a million trucks,” as reported by Reuters.
According to Cox Automotive, Cybertruck sold about 4,800 units in July, its strongest month to date, making it the highest-selling car in the country for over $100,000. An email from a Cox representative stated, “They have sold more than 16,000 so far, but sustained high volume at that price point will be a challenge.”
After several years of delay and a challenging production ramp-up, deliveries of the Cybertruck, which features a stainless-steel body and an unusual trapezoidal exterior design influenced by the “Blade Runner” film, started in November 2023. According to Musk’s 2019 estimates, the truck would cost $40,000 and have a 500-mile range on a single charge.
Cybertruck reservations were no longer possible on Tesla’s website for the $61,000 model, which had been available with a 250-mile range and a 2025 delivery deadline. While the $119,990 tri-motor Foundation Cyberbeast, with a range of 301 miles, is available from October, the $99,990 dual-motor variation Foundation limited series, with a 318-mile range, is anticipated to be delivered as early as this month.
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