The impending release of the electrified Cybertruck has generated significant anticipation. According to Jon Erlichman, a Bloomberg news anchor and tech news chronicler, the odds are high that Tesla will make $30 billion instantly from the Cybertruck.
Elon Musk, the CEO of Tesla, unveiled the Cybertruck in 2019. The EV received extensive interest due to its distinctive design, which resulted in a surge of preorders. During a recent earnings call, Musk stated that the demand for the Cybertruck has exceeded expectations.
Musk previously hinted at potential Cybertruck sales volume of 500,000 units per year, equivalent to the sales volume of the Chevy Silverado. Considering that the average price of a full-size pickup truck exceeds $60,000, half a million Cybertruck sales would generate $30 billion in revenue for Tesla each year.
This doesn’t even take into account the massive number of Cybertruck reservations. According to an online data tracker, there were 1,943,876 Cybertruck reservations as of July 21. Even if 74% of customers cancel their reservations, Tesla is on course to make an instant $30 billion from Cybertruck pre-orders alone.
Erlichman raised concerns about potential challenges, including the impact on profit margins from producing an electrified pickup truck. He acknowledged that EVs cost more to produce than conventional internal combustion engine (ICE) vehicles. As a result, making the Cybertruck affordable could affect profitability.
There is also the possibility that the unique design of the Cybertruck may impact the production ramp-up process.
Future Fund’s Gary Black noted how Model Y deliveries caused Tesla to increase its number of units sold by a whopping 87% in 2021. In a similar way, Black expects the Cybertruck to substantially boost Tesla’s sales in 2024.