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Tesla stops taking orders for cheapest Cybertruck, offers $100,000 version now
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Tesla stops taking orders for cheapest Cybertruck, offers $100,000 version now
Aug 9, 2024 5:33 PM

SAN FRANCISCO, Aug 9 (Reuters) - Tesla has stopped

taking orders for the least expensive version of its Cybertruck,

which is priced at $61,000, while making the $100,000 version

available for immediate order and delivery as soon as this

month, its website showed.

Demand and supply for the Cybertruck are closely monitored

by Tesla investors and fans, because Chief Executive

Elon Musk has poured resources into the truck's development and

plans to make 200,000 per year.

As recently as October, Musk said Tesla had 1 million

reservations for the truck. Some customers have indicated they

are waiting for less expensive versions, because prices are

higher and driving ranges lower than originally forecast.

"It shows that demand is a lot less than a million trucks,"

Guidehouse Insights analyst Sam Abuelsamid told Reuters.

Cybertruck sold nearly 4,800 units in July - its best month

yet and making it by far the best-selling vehicle in the U.S.

priced over $100,000, according to Cox Automotive. "They have

sold more than 16,000 so far, but sustained high volume at that

price point will be a challenge," a Cox spokesperson said in an

email.

Deliveries of the Cybertruck - which has an unconventional

trapezoidal exterior design inspired by the "Blade Runner" movie

and a stainless-steel body - began in November 2023 after years

of delay and a difficult production ramp-up. Musk in 2019 had

estimated the truck would cost $40,000 and be able to travel 500

miles or more on a single charge.

Tesla's website no longer offers the option to reserve a

$61,000 version of the Cybertruck, which previously had been

offered with a 250-mile range and a targeted 2025 delivery. The

$99,990 dual-motor variant Foundation limited series with a

318-mile range is estimated to be delivered as early as this

month while the $119,990 tri-motor Foundation Cyberbeast with a

range of 301 miles is available from October.

"They're sitting on a lot of inventory of two-motor and

three-motor trucks right now," Abuelsamid said.

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