Tesla has stopped accepting orders for the USD 61,000 base model of its Cybertruck and is now offering the USD 100,000 model for immediate purchase with delivery as early as this month.
Since Tesla CEO Elon Musk has invested a lot of money in the truck’s development and intends to produce 200,000 of them annually, investors and enthusiasts keep a careful eye on the supply and demand for the Cybertruck.
Elon Musk claimed in October that Tesla had one million reservations for the truck. Some customers have stated they are waiting for less expensive versions because prices are higher and driving ranges are lower than initially anticipated.
“It shows that demand is a lot less than a million trucks,” Guidehouse Insights analyst Sam Abuelsamid said, as reported by Reuters.
According to Cox Automotive, Cybertruck sold almost 4,800 units in July 2024, its best month to date, making it the best-selling car in the United States for more than USD 100,000.
“They have sold more than 16,000 so far, but sustained high volume at that price point will be a challenge,” a Cox Automotive spokesperson said.
The Cybertruck, with its stainless-steel body and unique trapezoidal exterior inspired by the “Blade Runner” film, started to be delivered in November 2023 following years of delay and a challenging production ramp-up. Elon Musk predicted in 2019 that the truck would cost USD 40,000 and have a 500-mile range with a single charge.
The Cybertruck, which was formerly available with a 250-mile range and a 2025 delivery target, is no longer available for reservation on Tesla’s website for USD 61,000. The USD 318-mile, dual-motor Foundation Limited Series variant, which costs USD 99,990, is expected to be delivered this month, while the USD 119,990, tri-motor Foundation Cyberbeast, which has a 301-mile range, will be available starting in October 2024.
“They’re sitting on a lot of inventory of two-motor and three-motor trucks right now,” Abuelsamid said.