Is Cybertruck demand dwindling?

[Mini2nut]

https://www.benzinga.com/startups/2...ays-thats-not-a-good-thing-for-the-ev-company

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[kappaknight]

I'm really glad I got mine, but looking at the lots in the area, I can confirm they are starting to pile up. I was also shocked only 2.5% of the 2 million actually followed through with the purchase, but whether they are common the roads or not, I'm really glad I have one.

 

[Jager]

The universe of buyers for $100K and $120K vehicles is vanishingly small. There are a bunch of us here who determined to pull the trigger on that purchase simply because the CT is so special... but for whom that very expensive decision was a one-off. Never before, and probably never again.

$80K exposes a much larger cohort of buyers. But I'd venture that the vast majority in that cohort have waited all this time expecting the $7500 Federal point-of-sale credit to apply.

I'd argue that the failure of that long-expected $7500 credit is probably as much a disappointment as was the much-higher-than-originally-announced pricing Tesla hit us with upon rollout.

The bottom line is there never was going to be a very high conversion rate at the price point of these vehicles.

 

[jerhenderson]

I'm really glad I got mine, but looking at the lots in the area, I can confirm they are starting to pile up. I was also shocked only 2.5% of the 2 million actually followed through with the purchase, but whether they are common the roads or not, I'm really glad I have one.

2.5 % converted to a Foundation Series that was much more expensive. Not bad.

 

[jerhenderson]

I'm really glad I got mine, but looking at the lots in the area, I can confirm they are starting to pile up. I was also shocked only 2.5% of the 2 million actually followed through with the purchase, but whether they are common the roads or not, I'm really glad I have one.

Piling up for their delivery to customers. Let's not forget that Tesla ideally wants about 2 weeks from order to delivery. I'd say at present build rate suits orders well.

 

[Macgreiner]

The universe of buyers for $100K and $120K vehicles is vanishingly small. There are a bunch of us here who determined to pull the trigger on that purchase simply because the CT is so special... but for whom that very expensive decision was a one-off. Never before, and probably never again.

$80K exposes a much larger cohort of buyers. But I'd venture that the vast majority in that cohort have waited all this time expecting the $7500 Federal point-of-sale credit to apply.

I'd argue that the failure of that long-expected $7500 credit is probably as much a disappointment as was the much-higher-than-originally-announced pricing Tesla hit us with upon rollout.

The bottom line is there never was going to be a very high conversion rate at the price point of these vehicles.

This.

 

[nocyber]

There were over 1 million reservations within, what, the first week of the announcement showing a $40k exoskeleton supertruck with 500 miles of range? And you’re shocked that there aren’t more conversions? This is what baffles me.

That said, if the Cybertruck released even just 1 year earlier to take advantage of the insane lingering COVID effects we’d be having a vastly different conversation. In a world where people bought a Model Y for $80k without blinking an eye would be an alternate universe where the $120k Cyberbeast would reign supreme.

 

[Deleted member 17810]

They better be able to swap those assembly lines in gigatexas to something else and fast.

 

[SlegMD]

FOTM purchases don’t count for volume and consistency of market

 

[Balthezor]

Not sure why anyone thought the 2 million reservation ever meant anything. $100 reservation fee is nothing. Lots of people reserved more than 1. It's a very expensive vehicle. I only purchase luxury cars for myself, and my Cyberbeast is the most expensive vehicle I have ever purchased. It's a very small market. On top of that, it's polarizing.

 

[dLux]

Hear my words, ye people, the price will likely go down even further very soon. I forecasted it when I ordered my non-Foundation CB on October 18 and they showed an October-November delivery timeframe. I got delivery Nov 7, in less than 3 weeks!

Maybe the drop will happen even this year. I expect a $70k AWD soon and maybe a $85k Beast.

 

[Mini2nut]

Placing the polarizing Cybertruck concept into production was a huge gamble for Tesla.

I personally don’t believe the controversial styling is holding back potential buyers. It’s the current $80k and $100k premium price points.

2025 is going to be an interesting year for Cybertruck sales. To keep the assembly lines humming Tesla will need to keep pulling down on the CT demand lever.

Leasing was the first pull of the Cybertruck demand lever after 11 months of production. What will pull #2 be?

 

[Sarge23060]

I think that the tax credit being unconfirmed for personal buyers of the AWD is holding things up. If you're in the market for an $80k truck, I don't think not getting the tax credit is going to dissuade many from buying - however, I'd certainly wait to at least know if I am getting it or not before pulling the trigger.

 

[Mini2nut]

Tesla has offered significant price cuts in the past.

The most severe cut was the less than 2 second 0-60 $140k Model S Plaid announced in 2021. It was later cut by TENS of thousands of dollars. You can now order a 2024 Model S Plaid for $89,990.

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