The Tesla Cybertruck: Delays, Concerns, and Evolving Expectations

2023-10-02 03:30:19

The hopes of those waiting for the Tesla Cybertruck evaporated as the end of September passed without the launch of the truck being announced or its delivery to long-awaited customers. The Wall Street Journal says this raised additional questions about the reasons for the delay and raised further concerns about the breadth of Tesla’s lineup in the near term. The newspaper says that Tesla is betting that customers are willing to wait for an electric pickup that is unlike anything else on the road. The triangular-shaped car – Tesla’s first new car model in more than three years – features a stainless steel exterior and a giant windshield. Tesla also promised that it would be bulletproof. Originally scheduled to launch in 2021, the Cybertruck has been hit with multiple delays, increasing pressure on Tesla to maintain sales growth with its aging model lineup and as demand for electric vehicles shows signs of weakening. In April, during the company’s first-quarter earnings announcement, Musk said he would likely hold a consumer delivery event in the third quarter to celebrate the start of sales. He then predicted the final delay over the summer, sidestepping a question about the truck’s pricing and delivery schedule by saying the company would begin delivering the truck to customers this year. Tesla has made a splash with the Cybertruck, with more than half a million orders as of 2020. But the longer the vehicle is delayed, the greater the risk that those early buyers will move on to other options, especially as competitors expand their electric pickup truck options, says the Wall Street Journal. Musk also said that the price and specifications of the model will change, citing inflation. Initially, the car was scheduled to start at $39,900 and rise to $69,900 and above for a top-tier version, but now it is believed that the final amount for the car will be much higher.
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