Tesla has announced that the long-awaited Cybertruck will begin its first deliveries on November 30 at the Giga Texas facility, with production set to commence in 2025. However, despite the imminent event, Tesla has yet to finalize the pricing for the truck.
Some customers who have placed orders for the Cybertruck have reported being contacted to make payment, only to be shocked by prices that are 40% higher than what was initially announced in 2019.
Unfortunately, recent governmental documents and Tesla’s own statements indicate that the much-anticipated $40,000 version of the Cybertruck may not materialize anytime soon. In fact, it might never happen.
When the Cybertruck was unveiled in 2019, there was a lot of buzz surrounding the unbelievable pricing. The official figures indicated that a base model with rear-wheel-drive would be priced at $39,900. A two-motor version would cost $49,900.
Meanwhile, a high-performance three-motor model would cost just $69,900. Tesla promised that the high-performance model would boast 500+ miles of range, a 14,000-pound tow rating, and a 0-60 time of 2.9 seconds.
These attractive numbers enticed over 2 million individuals to grant Tesla a refundable $100 deposit.
However, according to Gizmodo, Tesla has since removed all pricing details for the Cybertruck from its website. As a result, prospective buyers have no clue whether they’ll get a good deal.
Cybertruck pricing rumors
During a recent earnings call, Elon Musk revealed that scale production of approximately 250,000 trucks per year will not commence until 2025. Given that the Cybertruck launch date was delayed five times, this 2025 timeline could be delayed significantly or potentially never realized.
Additionally, it seems that Tesla will prioritize fulfilling the most expensive Cybertruck orders first. As of now, there is no indication that the cheaper two-motor version will be available during the Cybertruck’s first year.
Moreover, the three-motor Cybertruck could cost far more than anticipated. According to an anonymous Facebook post in the Tesla Cybertruck group, one buyer was contacted to finalize his order.
The Tesla representative informed the customer that a three-motor Cybertruck would cost $98,990. This figure is about 40% higher than the $69,900 figure given in 2019. Since then, three more individuals have come forward with similar experiences.
When one factors in delivery fees, taxes, title fees, and licensing fees, the truck’s cost reaches well into six figures.
Source: Cybertruck Owners Club
Is inflation the cause?
However, other industry watchers have noted that truck prices have experienced major inflation since 2019. The average cost of a full-sized US pickup truck today is about 31% higher than it was four years ago.
If one were to apply the 31% inflation rate to the $69,900 2019 price, the Cybertruck’s price would go up to $91,477. This brings the price close to what the Facebook user reported.
The Facebook user’s slightly higher cost is likely a function of Tesla charging a premium for the first Cybertruck deliveries. This would only be a temporary phenomenon.
Will Tesla be able to find enough Cybertruck customers to make the electric truck a long-term success? Or will the company assemble a limited number of trucks, claim production issues, and ultimately cancel the project? Stay tuned to find out.
