Tesla's long-anticipated Cybertruck made its grand debut during a livestream event led by Elon Musk at the Texas Gigafactory.
The electric stainless-steel pickup, a spectacle in itself, is the automaker's first major release since the Model Y in 2019. Despite the hype, questions linger about its practicality and market reception.
Cybertruck's Controversial Delay
Announced in 2019, the Cybertruck encountered a challenging journey to production, exacerbated by four years of design complexities and supply-chain disruptions during the pandemic.
Musk presented the vehicle in an event featuring a video showcasing its ability to tow a Porsche 911 and a demonstration of its bulletproof nature.
Porsche 911 vs Cybertruck towing Porsche 911. pic.twitter.com/04EfaB01Fb
— Jon Erlichman (@JonErlichman) November 30, 2023
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Ludicrous Price Tag of Cybertruck
Initially promised to start at $39,900, the Cybertruck's starting price now stands at $60,990, as per Tesla's website.
The top-end model, dubbed the "cyberbeast," boasts 845 horsepower and a 340-mile battery range, commanding a hefty $99,990. This disappointed many customers who were hoping for a price cut.
Mixed Reactions and Market Predictions
Gene Munster from Deepwater Asset Management expressed disappointment in the pricing, echoing potential reservations.
Morgan Stanley anticipates a modest 50 Cybertruck deliveries this year, with a slight increase to 30,000 in the following year. The market response is expected to be lukewarm, mirroring the challenges faced by rivals like Rivian.
Design Dilemma: Love It or Hate It?
A central puzzle surrounding the Cybertruck is its polarizing design, described by Tesla as "built for any planet."
"We dug our own grave with Cybertruck. Special products that come along once in a long while are just incredibly difficult to bring to market, to reach volume, and to be prosperous. It's fundamental to the nature of the newness," Elon said on a recent Tesla earnings call.
While Musk hails it as groundbreaking, opinions on platforms like Reddit suggest otherwise, Business Insider reports. Critics argue that the truck's unconventional appearance may deter traditional pickup truck consumers, especially in states like Texas and Wyoming.
The Guardian reports that even The Carlab's president Eric Noble thought that Cybertruck was not really into pickup truck users. Apparently, it has a "much narrower appeal" compared to the F or Ram series.
As for Paul Waatti of AutoPacific, Tesla will have a smaller audience than SUVs are expected to have. He adds that despite that, the company will do a great job in selling its newest EV in the market.
Cybertruck's Fate is Still Not Certain
Despite Musk's confidence in the Cybertruck as Tesla's "best product," uncertainties loom over its acceptance in the market. With production challenges, pricing concerns, and design critiques, the Cybertruck's fate remains uncertain.
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