Tesla begins deliveries of the Cyber Truck
The Cyber Truck might soon end its phantom existence. Announced years ago and repeatedly postponed, it is still not listed on the Tesla US website but is expected to be delivered today. Initially, it was promised for September 2023, now it's November 30, 2023...
The website now promoted that one could at least virtually join to "celebrate the first deliveries of the Cybertruck" at the Gigafactory Texas. This was pointed out by Martin Viecha, Tesla's Head of Investor Relations, via X, formerly known as Twitter. Interested parties and fans had the opportunity to win a ticket for the live event with a bit of luck – either as a reward under Tesla's referral program or by registering as a Tesla shareholder for a random drawing.
Generally, it remained noticeably quiet about the event, where only ten (!) vehicles are to be handed over, which is why the event is likely to have a more symbolic character this time: As the platform "Investors Business Daily" reports, citing industry estimates, there are now up to two million reservations for the Cybertruck. However, Tesla's Director of Product Design, Javier Verdura, said according to the platform "Milenio" with reference to an upcoming event at a conference in Monterrey actually:
"We will deliver the first ten."
And these first ten Cyber Trucks are likely to go exclusively to Tesla employees because even three hours before the "event," you won't find any prices or information about the truck on the US website. Although the Model 3 also started with only 30 customers initially, it was unofficial. Once again, it seems that a production hell has been created with the completely new vehicle structure. “Finanzen.net” quotes Elon Musk in a conference call with analysts saying:
"We have dug our own grave with the Cybertruck."
Because the completely new crash structure with the ultra-stable "Exo-Skeleton" still brings some problems in series production... which is why Musk expects that the Cyber Truck will not make a significant positive cash flow contribution for another twelve to eighteen months. Nevertheless, Tesla plans to produce 250,000 Cybertrucks per year in the long term, according to "Investor's Business Daily." Not too many, considering that Ford sells over 700,000 F-150 pickups and GM and Ram each sell more than 400,000 units in the USA alone. Musk assumes this target can be achieved by 2025. Perhaps there will be more specifics tonight: The well-known tech analyst Ming-Chi Kuo from TF International Securities estimated in October 2023, according to "BGR," that Tesla could still deliver a total of 100 to 200 Cybertrucks in 2023. In 2024, it could already be 100,000 to 200,000 vehicles, and in 2025 between 240,000 and 260,000.
Speculations in various media suggest that Tesla might announce not only potential information on the future production volume of the Cybertruck on Thursday but also more precise details about its specifications and price.
This is unusual because, so far, pre-order customers still do not know the exact cost of the model. According to "Fox Business," the research firm Kelley Blue Book expects the Cybertruck to start at $50,000. Gary Black, co-founder of the Future Fund Active ETF, stated according to "Barron's" that the Cybertruck version with one motor will start at $49,990, the two-motor version at $59,990, and the three-motor top version at $79,990.
Electric pickups are already losing popularity in the USA
Either way, it is time to position oneself in this market. After an initial hype, the order books of electric competitors from Ford, GM, and Stellantis are already shrinking. And perhaps not as many Americans were waiting for an electric mid-size truck as initially thought?
What does this mean?
The Cybertruck deviates completely from the Tesla program, not only in design but also in manufacturing. It remains to be seen if October 30, 2023, will indeed mark the beginning of deliveries for the first production models!
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