Tesla Raises Cybertruck Prices
Orders for the Entry Trim Blocked
Customers now need to pay an extra about $40,000 to buy one
Since its release, Tesla’s Cybertruck has attracted worldwide attention for its unique appearance. Due to its popularity, Tesla CEO Elon Musk announced in the third quarter of 2023 that the cumulative pre-orders for Cybertruck had exceeded 1 million units.
In the early days of customer deliveries, Cybertruck production could not keep up with demand, causing used Cybertruck prices to skyrocket. A $120,000 Cybertruck Foundation Series was sold for $244,500 on a used car auction site in the US.
Sudden Ban on Basic Model Sales
Consumers Are Unhappy
Recently, Tesla has stirred controversy among American consumers by halting reservations for the Cybertruck’s base trim, priced at $69,990. With the base trim no longer available, the cheapest option now is the all-wheel-drive model, starting at $99,990.
This new starting price is approximately $40,000 higher than the base trim and features a dual-motor, four-wheel-drive system with enhanced performance. Critics argue that this move essentially amounts to a price increase, especially since many buyers were drawn to the Cybertruck primarily for its design rather than its performance features.
Tesla Promised a $40,000 Price
Now Customers Must Pay $100,000
Since Tesla revealed the new Cybertruck pricing, many US consumers have urged the company to introduce a more affordable entry-level trim. This demand reflects a strong interest in the Cybertruck’s unique exterior design, even if it compromises performance or driving range. Initially, Tesla had projected the Cybertruck’s price to be around $40,000.
However, the announced price was $61,000, 50% higher than the initial estimate. With reservations now blocked, the starting price has jumped to about $100,000—more than double what was initially promised. This significant price increase has led to growing consumer criticism and could put Tesla in a difficult position with its customer base.
Safety Concerns Emerge Over Sharp Body Panels
Controversies Continue to Mount
However, some analysts say Tesla blocked orders for this entry trim because of the sharp decline in Cybertruck sales. The prevailing analysis is that Tesla blocked orders for the basic trim to clear inventory before it piled up further due to declining sales of the more expensive dual-motor and tri-motor models.
In the case of the Cybertruck, there has been controversy recently over the vehicle’s gap and flush and the sharp body panels, leading to a rash of injuries to consumers. The Cybertruck’s used price, once twice its original price, has also plummeted as its popularity has cooled. As of August 2024, an all-wheel drive Cybertruck model with about 10,000 kilometers (6,214 miles) driven is listed for $105,000. As Tesla’s sales policy continues to be controversial, attention is also being paid to Tesla’s future response.
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