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ModelAZ

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Tesla Cybertruck is already boosting sales, keeping momentum without tax credit

March 2, 2020

Source: https://electrek.co/2020/03/02/tesla-cybertruck-boosting-sales-momentum-tax-credit/

Tesla Cybertruck is not coming to market until next year, but sources at Tesla are telling Electrek that the electric pickup is already boosting sales and helping Tesla keeps its momentum in the US without the tax credit.

For the first time, Tesla buyers don’t have access to any federal tax credit for buying a vehicle in the US.

It is raising questions about the automaker’s ability to maintain demand in the US after losing access to the incentive while other automakers can still take advantage of it.

Furthermore, the end of the incentive has pushed many buyers to place orders last year, which boosted sales last quarter and contributed to an anticipated slow down in deliveries in Q1 2020.

However, sources familiar with Tesla’s US sales told Electrek that the automaker’s management has given its North American sales team roughly the same delivery goal as the previous quarter.

They are reporting strong demand in the first quarter and sources attribute it, at least partly, to the Cybertruck unveiling in November of last year.

When Tesla unveiled the Cybertruck, it created a lot of talk, mostly about how it looked. Some people focused more on the insane specs and price, but many were also talking about the unveiling itself.

Videos of the window breaking mishap have been seen by millions and Tesla embraced the mistake – even going as far as selling t-shirts featuring it.

Tesla is believed to have received around 500,000 reservations for the electric pickup truck and sources told Electrek that many people are visiting Tesla stores because of it.

One source told Electrek that some Cybertruck reservation holders are opting to lease a Model 3 until they can take delivery of their electric pickup truck – resulting in a boost of demand.

Tesla said that it plans to launch the two higher-end versions of the Cybertruck in late 2021.

Those two electric trucks will have between 300 and 500 miles of range and be equipped with dual- and tri-motor powertrains and start at $49,000.

Electrek’s Take

I’m not gonna lie, that’s a bit surprising to me. I was confident in Tesla’s demand in the US starting later this year as Tesla starts volume deliveries of the Model Y, but I was expecting a significant drop in Q1.

Though now that they have pointed it out, the Cybertruck effect makes sense to me.

The good and the bad from the launch has resulted in many more people being introduced to electric vehicles and Tesla. Some of these people are now realizing that an electric vehicle might be an option for them and even though their main interest might be the Cybertruck, it’s not that surprising that they would now be more open to another EV, like the Model 3.

Now this Cybertruck effect might help Tesla’s US demand until they can start volume deliveries of the Model Y, which would be an almost perfect situation for the automaker.

What do you think? Let us know in the comment section below.
 

Jelloiron

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I am one of those that have never considered an EV, I've driven a Ford F150 since high school (20+ years). If it wasnt for the broken glass and "Ugly Design" that sparked a conversation at work about the CT, I would have never ordered one.

I'm now at a point of considering a short term lease on one to get the good and bad figured out prior to the deliveries starting of the CT.
 

Howard

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I also did not consider a Telsa as an option for my needs. I always loved the company but I needed something with more room, more range, and real towing ability. I told my wife when we purchased our 2015 Tahoe that my next vehicle will drive itself. I knew something would be developed but the Cybertruck blew me away (after I had a few days to digest it). I believe this truck will change the truck market forever. Everything else just looks so dated. It's simply badass in every way.
 

RayzorBEV

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Yes, its nice to have the tax credit but no, I will and did get a Tesla without the tax credit and will do it again with the CT. Tesla's make good products and that's what selling them.
 

SentinelOne

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ordered tri motor second day and a week later ordered a model 3 performance as a gap filler (not the most patient person)...love the model 3 and cant wait for the ct
 

Jelloiron

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I'm the most instant gratification person I know and the idea of waiting 2 years for the CT was the hardest concept for me to try to get through my head. It's the reason I'm considering leasing a vehicle I dont really want just to scratch that itch, I'm just trying to justify it by saying it's to see what i do and dont like about an EV.
 

John K

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I'm the most instant gratification person I know and the idea of waiting 2 years for the CT was the hardest concept for me to try to get through my head. It's the reason I'm considering leasing a vehicle I dont really want just to scratch that itch, I'm just trying to justify it by saying it's to see what i do and dont like about an EV.
I wish Tesla would offer a lease with reservation, lease now and turn in when the vehicle is ready for delivery. If opt out, continue until the 3 year lease is up. For personal needs, I would need extended commuting mileage.

I bet there are many contenders for needing instant gratification..😁
 

Jelloiron

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I wish Tesla would offer a lease with reservation, lease now and turn in when the vehicle is ready for delivery. If opt out, continue until the 3 year lease is up. For personal needs, I would need extended commuting mileage.

I bet there are many contenders for needing instant gratification..😁
That is a genius idea that I could definitely get behind.
 

Gozer

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Someone should suggest this to Elon on the Twitters. Maybe have a small amount of the lease money go to the down payment on the CT.

I wish Tesla would offer a lease with reservation, lease now and turn in when the vehicle is ready for delivery. If opt out, continue until the 3 year lease is up. For personal needs, I would need extended commuting mileage.

I bet there are many contenders for needing instant gratification..😁
 

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