Tesla is discontinuing the most affordable version of its Cybertruck. This decision appears to be due to difficulties maintaining high sales volumes at the lower price point.
Tesla announced on its website that it would no longer accept orders for the $61,000 base model of the Cybertruck. The company also revealed that the $100,000 version would be available for immediate order, with deliveries starting as early as this month.
Previously, Tesla offered a $61,000 Cybertruck model with a 250-mile range, targeting delivery in 2025. However, this option is no longer available for reservation.
The dual-motor Foundation Series, priced at $99,990 with a 318-mile range, is expected to be delivered as early as this month. The tri-motor Foundation Cyberbeast, priced at $119,990, will be available starting in October.
According to Cox Automotive, the Cybertruck set a record in July, selling nearly 4,800 units, making it the best-selling vehicle in the U.S. in the over $100,000 range.
A Cox spokesperson noted, “They have sold more than 16,000 so far, but sustained high volume at that price point will be a challenge.”
The delivery of the Cybertruck finally began in November last year after several years of delays and challenges in ramping up production.
In 2019, Tesla CEO Elon Musk estimated that the truck would cost $40,000 and could drive over 500 miles on a single charge.
As recently as last October, Tesla announced that it had received reservations for 1 million Cybertrucks.
However, some customers have expressed disappointment, saying that the price is too high and the range is lower than initially expected, so they are waiting for a more affordable version.
Guidehouse Insights analyst Sam Abuelsamid commented, “Tesla’s latest announcement suggests that demand for the Cybertruck may fall short of 1 million units.”
Tesla investors and fans are closely watching the demand and supply of the Cybertruck, especially given Musk’s plan to produce 200,000 trucks annually and the significant resources dedicated to its development.
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