stumby

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https://loupventures.com/cybertruck-building-support-with-construction-pros/

Cybertruck Building Support with Construction Pros

Back in November following Tesla’s Cybertruck announcement, we published a note titled Cybertruck Misses Core Truck Buyer, But Still An Incremental Positive. Following 22 conversations with midwest-based construction pros, a core truck-buying segment, we’ve realized we were wrong, as early indications point to them hitting the mark.

Surprisingly, Cybertruck is building support with construction professionals. We now believe the segment will account for 15% of Tesla units in its first fully ramped year (likely 2023 given it ships late in 2021). We previously estimated that Cybertruck would account for 5% of units. Our key takeaways from the conversations:

  • Something bigger is going on. Stepping back, we left with the feeling that the speed of EV adoption is setting up to trend faster than we anticipated. We entered the conversations expecting to hear clear concerns about EV’s shortcomings. Instead, 10 of the 22 said their next truck will be electric, 4 undecided, and 8 expecting to stay with an internal combination. In other words, two-thirds of construction pros are positive or neutral on EV’s.
  • Tesla’s product awareness is favorable with 11 of the 22 claiming they were aware that Tesla had announced an electric pick up, and only 4 of 22 could name the truck.
  • Intent to buy was higher than we expected, with 5 of the 22 intending to purchase a Cybertruck in the next 5 years. While there’s a gap between intending to buy a truck and actually purchasing a $45-$55k vehicle, the intent to buy was higher than we expected.
  • Pros think Cybertruck is more expensive than it actually will be. We showed a photo of Cybertruck and added that a base model Ford 150 starts at $29k. Next, we asked them to guess Cybertruck’s base model price. The average was $84k, with a median of $80k and a range of $45k-$220k. The actual base model pricing is expected to be $40k (2WD option). The 4WD with full self-driving version is priced at $57k. We expect the average selling price with add-ons will be closer to $55k.
  • Last, we discussed how they would feel driving up to a job site in a Cybertruck (with the photo visible to them) and asked, given its brutalist design, would you be embarrassed to show up to work in this truck. Only 3 of 22 said they would be embarrassed.
 

Garden_Aum

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This is very interesting. I think that the adoption rate will go up as this trucks appear at job sites and are shown to be resistant to body damage, can provide power for work tools, seat 6 adults, and still have a 6.5 foot long cargo area. Unless the legacy automobile/truck makers produce a compelling product to compete, we might see the Cybertruck dominate the truck market for local construction firms.
 

Howard

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I also thought the Cybertruck was a joke when I first saw it. Two days later after diving into its specs and capabilities, I ordered a tri-motor. There is no other truck on the market that offers anything close to a Cybertruck. Every time I drive anywhere in my Tahoe SUV, I realize how much better that trip would be in a Cybertruck. Today, we were in Key West (25 miles from my home) and I wanted to run into the butcher and get some great steaks. However, we had a bunch of other places to go and they would spoil before we returned home. Now, in the Cybertruck I imagined a small fridge in the vault plugged into the 120 outlets keeping whatever we wanted to buy cold and fresh. That is a gamechanger. Now add to that the self-driving assistance and it is out of the park!. I think once these things hit the road everyone is going to want one. You don't need a $250,000 Ferarri to turn heads. Show up in your Cybertruck and let the games begin. Zero to 60 in 2.9 sec! Want to go? Want to go?
 

Sputter

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Ha ha ha....I never thought about putting a mini-fridge in my CYBRTRK! What a great idea. But why stop there? How about a coffee maker and microwave? Yea ha! Get the camping gear packed.
 

Sirfun

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Ha ha ha....I never thought about putting a mini-fridge in my CYBRTRK! What a great idea. But why stop there? How about a coffee maker and microwave? Yea ha! Get the camping gear packed.
Yeah, it's like my old VW bus only BETTER!
 

cybertrucktruckguy

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Very cool article. As a contractor, I can say it took a few months for the whole package to sink in but once I really understood it...I ordered TWO!
 

OrigamiCybertruck

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I'm a contractor and I'm dying to replace my aging F-250 super duty with a Cybertruck. It cannot come fast enough for me.
 

BillyGee

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22 people is hardly a trend. That said, I do field service for wineries, I'm replacing an f350 service truck with it.
 
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KWTESLA

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Cybertruck ideas.... somewhere I got the impression that it might have tool boxes on the sides ? That would be much better for contractors . Also as suggested before a Refrigerator or even a freezer could be used by the hunters who transport the kill they have shot back to the home freezer. Welders would love the built in plug in the bed as well for Wire or TIG welding . Mostly I would love to have a truck the does not scratch or dent like all the current pick-up trucks do so easily .
 

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Cybertruck ideas.... somewhere I got the impression that it might have tool boxes on the sides ? That would be much better for contractors . Also as suggested before a Refrigerator or even a freezer could be used by the hunters who transport the kill they have shot back to the home freezer. Welders would love the built in plug in the bed as well for Wire or TIG welding . Mostly I would love to have a truck the does not scratch or dent like all the current pick-up trucks do so easily .
You mean this?
that-the-tesla-cybertruck-has-sail-pillar-storages.jpg
 

ajdelange

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built in plug in the bed as well for Wire or TIG welding .
Makes me wonder how stiff a circuit that 240 V circuit is going to be. 20A would produce 4.8 kW - about the same as a 5 kW generator which is what you typically see in the back of a contractor's pickup if he's running a miter saw, a compressor for nail guns and some battery charging stations and I guess that would support a pretty good sized stick or wire welder. But do you all think that's enough?
 
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KWTESLA

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Yes you got it Blue Steel .... that's the one of many great ideas we can expect in Reveal #2 maybe even a Lumber Rack option that is air operated and can be deployed up to above the top of the truck for hauling Lumber,pipe ,rebar etc.
 
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