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Demand and supply for the Cybertruck are closely monitored by
Tesla investors and fans, because Chief Executive Elon Musk has
poured resources into the truck's development and plans to make
200,000 per year.
As recently as October, Musk said Tesla had 1 million
reservations for the truck. Some customers have indicated they
are waiting for less expensive versions, because prices are
higher and driving ranges lower than originally forecast.
"It shows that demand is a lot less than a million trucks,"
Guidehouse Insights analyst Sam Abuelsamid told Reuters.
Cybertruck sold nearly 4,800 units in July - its best month yet
and making it by far the best-selling vehicle in the U.S. priced
over $100,000, according to Cox Automotive. "They have sold more
than 16,000 so far, but sustained high volume at that price
point will be a challenge," a Cox spokesperson said in an email.
Deliveries of the Cybertruck - which has an unconventional
trapezoidal exterior design inspired by the "Blade Runner" movie
and a stainless-steel body - began in November 2023 after years
of delay and a difficult production ramp-up. Musk in 2019 had
estimated the truck would cost $40,000 and be able to travel 500
miles or more on a single charge.
Tesla's website no longer offers the option to reserve a $61,000
version of the Cybertruck, which previously had been offered
with a 250-mile range and a targeted 2025 delivery. The $99,990
dual-motor variant Foundation limited series with a 318-mile
range is estimated to be delivered as early as this month while
the $119,990 tri-motor Foundation Cyberbeast with a range of 301
miles is available from October.
"They're sitting on a lot of inventory of two-motor and
three-motor trucks right now," Abuelsamid said.
(Reporting by Abhirup Roy and Hyunjoo Jin in San Francisco;
Editing by Leslie Adler)
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