Tesla Discontinues Orders for Budget-Friendly Cybertruck

Abdullah

12 Aug 2024

134 Tesla

Tesla Discontinues Orders for Budget-Friendly Cybertruck

Tesla Inc. has halted orders for its most affordable Cybertruck, previously listed at $61,000. Instead, the company is prioritizing the $100,000 model, which is now available for immediate purchase and delivery, according to their official website.

Shifts in Demand and Production Insights

The change in Tesla's ordering process reflects broader concerns among stakeholders regarding the Cybertruck's market appeal and production capabilities. CEO Elon Musk has committed substantial resources to the Cybertruck, with a goal of producing 200,000 units annually. Despite having received around 1 million pre-orders as of October, some customers are choosing to wait for lower-priced options due to the higher-than-expected prices and reduced driving range.

Market Performance and Future Challenges

In July, the Cybertruck achieved a notable milestone by selling approximately 4,800 units, making it the leading vehicle in the U.S. with a price tag exceeding $100,000, according to Some Data. Nonetheless, sustaining this high sales rate at the current price level presents a significant challenge.

Production Timeline and Design Features

The Cybertruck's deliveries commenced in November 2023 after overcoming several delays and production hurdles. Initially, Musk had estimated the truck would be priced around $40,000 and capable of covering over 500 miles on a single charge. The Tesla Cars in Pakistan boasts a unique trapezoidal shape, inspired by the "Blade Runner" film, and is constructed with a stainless-steel exterior.