Written by Abhiroop Roy and Hyunjoo Jin
SAN FRANCISCO (Reuters) – Tesla Inc has stopped taking orders for the least expensive version of its Cybertruck, which costs $61,000, while the $100,000 version is available for immediate order and delivery this month, its website showed.
Tesla investors and fans are closely watching demand and supply for the Cybertruck, as CEO Elon Musk has poured resources into the truck’s development and plans to produce 200,000 units annually.
In 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 mileage is lower than originally expected.
“This shows that demand is much less than 1 million trucks,” Sam Abuelsamid, an analyst at Guidehouse Insights, told Reuters.
The Cybertruck sold nearly 4,800 units in July — its best month yet and making it the best-selling vehicle in the U.S. priced over $100,000, according to Cox Automotive. “They’ve sold over 16,000 units to date, but maintaining high volume at this price point will be a challenge,” a Cox spokesperson said in an email.
Deliveries of the Cybertruck — which features a funky trapezoidal exterior inspired by “Blade Runner” and a stainless steel body — are set to begin in November 2023 after years of delays and difficulty scaling up production. Musk estimated in 2019 that 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 the $61,000 Cybertruck, which was previously offered with a 250-mile range and a target delivery date of 2025. The $99,990 dual-motor Foundation Limited Series with a 318-mile range is expected to be delivered early this month while the $119,990 triple-motor Foundation Cyberbeast with a 301-mile range will be available from October.
“They now have a large stock of twin-engine and three-engine trucks,” Abu Al-Sameed said.