Cybertruck has finally been delivered, but Tesla's stock price has fallen.
On November 30th local time, the delivery event of Tesla's electric pickup truck Cybertruck was held at Tesla's Texas Superfactory, which also means that Cybertruck officially began sales. But on the day of the US stock market closing, Tesla fell 1.78% and closed at $239.79 per share.
The event lasted less than half an hour, and Tesla CEO Elon Musk delivered the vehicle to more than ten users during the delivery event. He said that this is a car that experts say is impossible, and experts believe that Cybertruck can never be produced. "I think this is our best product, and in the end, the future should look futuristic."
Tesla showcased some collision tests of Cybertruck and also demonstrated that the body panels of Cybertruck were not punctured by gunfire.
In the subsequent video, Tesla compared the Cybertruck with its competitors Ford F-150 Lightning and Rivian R1T diesel trucks.
Musk introduced that this pure electric pickup truck can tow a weight of over 11000 pounds (approximately 4994 kilograms) and has a load capacity of 2500 pounds (approximately 1135 kilograms). The Cybertruck container is 6 feet long (approximately 1.83 meters) and 4 feet wide (approximately 1.22 meters). The high-end version of Cyberbeat can accelerate from 0 to 60 miles (approximately 96 kilometers) in just 2.6 seconds.
The starting price on the official website ranges from $61000 to $100000, with delivery starting as early as next year
According to Tesla's official website in the United States, this model is available in three versions, including rear wheel drive, all wheel drive, and Cyberbear, with starting prices of $60990, $79990, and $99990, respectively.
Compared to the estimated selling price given by Tesla in 2019, the starting price of Cybertruck is about $20000 higher.
Meanwhile, this selling price is also higher than market expectations. Previously, Wedbush Securities analyst Dan Ives estimated that the cost of Cybertruck would be at least $10000 higher than the initial target, with a single motor version priced around $50000 and dual and triple motor versions potentially priced between $60000 and $80000.
Jessica Caldwell, head of automotive research firm Edmunds, said, "This will definitely attract wealthy customers who can afford prices and want something unique and quirky." However, Caldwell also believes that "not a large portion of people can afford it, especially in high interest rates."
In terms of delivery time, both the all wheel drive version and Cyberbear version have a delivery time of 2024, while the lowest priced rear wheel drive version has a delivery time of 2025.
The electric pickup truck market is fiercely competitive, and Musk revealed that Cybertruck has millions of orders
In 2019, Tesla released its first pickup truck model, Cybertruck, but its delivery time was repeatedly delayed. Previously, Tesla had planned to start delivery in 2021, but it was also not achieved.
In North America, pickup trucks are a very popular and profitable market, with Cybertruck entering two years later than planned, competing directly with Ford's F150 Lightning, Rivian R1T, and General Motors' Hummer electric pickup trucks.
The starting price of the Rivian R1T is $73000, the F-150 Lightning is about $50000, and the Hummer electric pickup truck is priced at nearly $100000.
Faced with weak demand for electric vehicles and intensified competition, analysts believe that Cybertruck is crucial for Tesla's overall sales and profit growth.
However, Musk had previously poured a bucket of cold water on investors.
On October 18th local time, Musk stated during Tesla's Q3 earnings conference call, "We need to lower our expectations for Cybertruck. This is a great product, but from a financial perspective, it will take 12 to 18 months to become a significant contributor to cash flow."
Musk also revealed that Cybertruck has over a million orders. He also emphasized the need to lower prices through increased production capacity, making it affordable for consumers, but this requires a lot of work. Tesla will ultimately achieve an annual production of approximately 250000 Cyberracks. This may be achieved at some point in 2025.
The financial report shows that the trial production capacity of Cybertruck at the Texas super factory is 125000 vehicles per year.
After the release of Cybertruck, some analysts pointed out that the expansion speed of the US electric pickup truck market was not as fast as some people had imagined when Cybertruck was first released. Some startups have pushed vehicles to the market with little effect, such as Lordstown Motors; Both traditional giants General Motors and Ford have announced plans to reduce, postpone, or even cancel their electric vehicle products and investments, including those related to electric trucks.
As of press release, Tesla's US stock market fell 1.96% to $235.09 per share after trading.