Tesla has recently made significant changes to the pricing structure of its Cybertruck lineup. The company has stopped selling the $60,990 RWD Cybertruck, the cheapest version of the electric vehicle, and increased the price of the next-in-line AWD Cybertruck by $20,000. This price increase now sets the starting price for the AWD model at $99,990, a steep jump from the previous price point. The top-tier tri-motor version of the Cybertruck, known as the Cyberbeast, has also seen a price hike, now retailing for $119,990.
Disappointing Price Floor in Comparison to Initial Promises
These new prices come as a disappointment to many potential buyers, especially considering Tesla’s initial promise in 2019 that the Cybertruck would start at $39,990. The drastic increase of $39,000 for the AWD model highlights a significant deviation from the company’s original pricing projections. This substantial jump in pricing may deter some customers who were initially drawn to the Cybertruck due to its affordability.
Despite the negative pricing changes, Tesla has announced improved delivery times for the Cybertruck models. The company estimates that AWD Cybertrucks will be delivered to customers between August and September 2024, with the Cyberbeast following in October to December 2024. This marks a significant improvement from previous delivery projections, as orders were previously slated for delivery in 2025.
In addition to the pricing changes, the Cybertruck has faced other challenges this year. The vehicle has been subject to two recalls, one for faulty accelerator pedals and another for defective wiper blades. These recalls, combined with Tesla’s overall struggles with falling profits, federal investigations, lawsuits, and additional recalls, paint a challenging picture for the Cybertruck and the company as a whole.
While the Cybertruck’s price increases and delivery time improvements offer a mixed bag of news for consumers, the vehicle continues to face significant hurdles. The shift in pricing from Tesla’s initial promises, coupled with ongoing quality control issues and broader company challenges, showcase the complexities and uncertainties of the electric vehicle market. Tesla will need to navigate these obstacles carefully to maintain consumer trust and drive the success of the Cybertruck in the competitive automotive landscape.