SAN FRANCISCO (Reuters) – Tesla has stopped taking orders for the least expensive version of its Cybertruck, which is priced at $61,000, while making the $100,000 version available for immediate order and delivery as soon as this month, its website showed. #TeslaCybertruckOrders
Demand and supply for the Cybertruck are closely monitored by Tesla investors and fans. Chief Executive Elon Musk has invested heavily and plans to produce 200,000 units per year.
As recently as October, Musk reported Tesla had 1 million reservations for the truck. Some customers are waiting for cheaper versions due to higher prices and lower driving ranges.
“It shows that demand is a lot less than a million trucks,” Guidehouse Insights analyst Sam Abuelsamid told Reuters.
In July, the Cybertruck sold nearly 4,800 units, marking its best month and making it the top-selling vehicle in the U.S. priced over $100,000. According to Cox Automotive, the vehicle has sold over 16,000 units so far. However, a Cox spokesperson noted that maintaining high sales volume at this price point will be challenging.
Deliveries of the Cybertruck began in November 2023 after years of delay and a challenging production ramp-up. The truck features an unconventional trapezoidal exterior design inspired by the “Blade Runner” movie and a stainless-steel body. Musk estimated in 2019 that the truck would cost $40,000 and travel over 500 miles on a single charge. #TeslaCybertruckOrders
In addition, Tesla’s decision to halt the cheapest Cybertruck orders highlights the company’s focus on profitability and market positioning. Consequently, the $100,000 model is expected to become the standard offering, driving a new wave of Tesla Cybertruck orders. This move underscores Tesla’s commitment to adapting its product lineup to meet evolving market demands.
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