US Buyers: Can Tesla Cybertruck Succeed?

Cybertruck: Tesla’s US-Focused Electric Truck

There has been far-reaching discourse on the Tesla Cybertruck ever since its early preview in December 2019. With the recent inception of the actual production, attention skyrocketed as foreseen.

This pickup is a transmogrified version of the classic truck in multiple facets. Its striking look, especially when accompanied by its copious amenities and innovative ideas, has cemented it as one of the Toledos of this year. However, how much influence will it reach to Tesla’s sales numbers and financial influence all over the world?

The Cybertruck is without doubt Tesla’s most advanced motorcar, with extreme pick-up acceleration (reaching 0 to 60 mph under 2.6 seconds) and cabin-space for five people. Through their batteries and software, Tesla has had an influential effect not merely in major e-vehicle industries but further across the automotive market. The Cybertruck surely stands as affirmation of this shift.

For a whopping $61,000, the Cybertruck is nothing if not expensive. Quite different from the $40,000 benchmark set by Musk four years prior, this cost has arisen from inflation and production complications in the real world of competitiveness in regards to features. However, it is worth noting that this is still below the average retail price for such vehicles in the US, estimated at $82,835 between January and September 2023.

By contrast, the minimum-priced rear-wheel drive Cybertruck won’t go on sale until 2025, and will be more costly than the costliest F-150 Lightning by an amount of $11,000. Additionally, the electric Chevrolet Silverado is set to be priced thousands dollars below that of Tesla’s so the automaker won’t have a clear upper hand in the matter of prices versus its Detroit counterparts.

Things at the upper end of the price spectrum are distinct. The high-end Cybertruck, known as the Cyberbeast, has 845 hp and can travel up to 320 miles on a single battery charge. Its cost is $99,990, making it more economical than its prime rival, the GMC Hummer EV Pickup. Despite the latter having 1,000 hp, it weighs more than 2,000 pounds extra and is slower than the Cybertruck. Whilst the maximum range is 372 miles, the top-grade GMC Hummer EV 3X trim starts at $106,945. The Rivian option is in the same ballpark money-wise, but is still too slow for the Cyberbeast.

Hence, the current Tesla looks to be competing well with other automobiles in the U.S. Its potential, features, and cost all bode well for its possibilities in America where pickup trucks are so prevalent. Naturally, it will only be successful if customers conclude a switch away from regular gasoline motors and consider electric power instead.

Americans have been purchasing EVs in abundance. During the period from January to October 2023, a sum total of 959,000 all-new light electric passenger vehicles were sold throughout the United States. While providing a good increment of 60 percent when compared to the same duration in 2022, these cars comprised merely 7.4 percent of the whole market. On top of that, Battery Electric Vehicles made up 15 percent of the entire European market and close to twenty percent in China.

The electric pickup market remains relatively unknown in the US. Its sales accounted for less than 3% of overall EV purchases until October. JATO Dynamics reported that F-150 Lightning sold a meagre 16,200 units within its initial 10 month period. Moreover, whilst electric vehicles tended to make up almost 9% of total SUV sales, electric pick-up trucks represented only 1.2% of the complete segment.

Will the Cybertruck draw focus to electric-powered trucks? Undoubtedly, yes. Nonetheless, America’s tie to gasoline with regards to pickup culture is firm. Shifting this state of affairs will necessitate a unique approach. People in the truck market are likely not going to accept electric power as readily as those within other sections such as SUVs.

For the Cybertruck to be a victory, it must prevail in North America. Tesla has achieved success with their Model Y by achieving excellent selling ratings all around the world. Nonetheless, the Cybertruck does not possess the same universal prospects as the Model Y. Large pickups are only acknowledged in the United States and Canada.

Felipe Munoz, a JATO Dynamics Automotive Industry Expert, is the author of this piece.

Leave a Reply

Your email address will not be published. Required fields are marked *