Tesla stops accepting orders for cheaper Cybertruck model
Date
8/11/2024 3:25:07 AM
(MENAFN) Tesla has stopped accepting orders for the more affordable USD61,000 Cybertruck, now only offering the USD100,000 version for immediate purchase, with deliveries expected as early as this month, according to the company’s website. This shift has captured the attention of Tesla investors and enthusiasts, especially as CEO Elon Musk had invested heavily in the vehicle's development and set a goal of producing 200,000 units annually.
In October, Musk revealed that Tesla had received 1 million orders for the Cybertruck, though some customers were specifically waiting for the lower-priced models, particularly in light of the unexpectedly high cost and reduced range. This has led to concerns about the actual demand, with Sam Abu Al-Samed, an analyst at Guidehouse Insights, suggesting that the real demand is likely much lower than the initial 1 million orders.
In July, Tesla sold approximately 4,800 Cybertrucks, marking its best month yet and making it the top-selling vehicle priced over USD100,000 in the U.S., according to Cox Automotive. However, a spokesperson from Cox noted that while Tesla has sold over 16,000 Cybertrucks so far, maintaining these sales figures at the current price point could be challenging.
The Cybertruck, known for its unique trapezoidal design inspired by the movie "Blade Runner" and its stainless steel body, began deliveries in November 2023 after several years of delays and production challenges. When Musk first unveiled the Cybertruck in 2019, he had promised a starting price of USD40,000 and a range of about 800 kilometers per charge, which has since been revised.
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