The highly awaited Cybertruck from Tesla has entered the market with a starting price of $60,990, marking a notable increase from CEO Elon Musk’s initial estimate in 2019.
During an event held in Austin, Texas, Musk took the wheel of the Cybertruck, driving it onto the stage to highlight its futuristic design and functionality. He showcased a video demonstrating the Cybertruck towing a Porsche 911 and triumphing in a race against a gasoline-powered 911, underscoring its impressive performance capabilities.
In extended trading, Tesla shares fell 2% in spite of Musk’s optimism. With three pricing points ranging from $60,990 to $99,990, the Cybertruck is a hot pickup truck competitor going up against the likes of Ford’s F150 Lightning, Rivian’s R1T, and GM’s Hummer EV.
The much anticipated Tesla Cybertruck is now available with a starting price of $60,990. This unexpected price hike has caught the attention of analysts and sparked discussions within the industry.
Due to its two-year late introduction, the truck will face tough competition. Musk had previously estimated that the Cybertruck would start at $40,000. However, new deposits are now just $250. Analysts predict that a specialized audience will find success with it despite the price change.
Musk said in 2019 that the vehicle will have a range of over 500 miles; however, questions have been raised over the vehicle’s real range, with the longest version estimated to be only 340 miles.
Experts have doubts over Tesla’s range projections and point to rivals like Ford and Chevy as more sensible choices. Although the Cybertruck is essential to Tesla’s reputation for innovation, it confronts difficulties in a congested electric vehicle market, which begs the issue of how it will affect the company’s total sales.
Musk’s signature theatrics during the presentation generate excitement, but questions over the vehicle’s cost and practicality remain.
Doors are bulletproof to .45” & 9mm
— Elon Musk (@elonmusk) November 30, 2023
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