Is Cybertruck demand dwindling?

[jerhenderson]

Various options sure feels like an indication for lessening demand.

• leases now available
• enabling the ability to transfer FSD to the Cybertruck
• started deliveries in Canada
• people without reservations can order one and get it delivered in days (< 1 month)

Lots of nonissues. For instance, Canada needed approval by regulators in Canada. It wasn't a demand lever.

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[M0unt41nm4n]

The best selling EV truck combined at the foundation series has a demand problem ? It did better than they expected I'll bet.

Indeed. But yeah, the shine is probably over. We won't know until we get Q4-24 and Q1-25 results to decide on their being a true demand problem. Trust me, if there are CTs sitting on a lot, lowering prices will make them fly out of the dealerships. All the manufacturers do it at the end of the year. The question is, will Tesla drop the prices of the 2024 CTs?

 

[CarMan ElecTruck]

Most here would say there are no “2024/2025” CyberTrucks.. ??

…until it’s time to ‘move units’

Indeed. But yeah, the shine is probably over. We won't know until we get Q4-24 and Q1-25 results to decide on their being a true demand problem. Trust me, if there are CTs sitting on a lot, lowering prices will make them fly out of the dealerships. All the manufacturers do it at the end of the year. The question is, will Tesla drop the prices of the 2024 CTs?

 

[Crissa]

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.

$40K was for a truck with 230 miles range.

The 500 mile model hasn't come out yet, and was never going to be first.

-Crissa

 

[OldDirtyRobot]

These "demand" posts are getting kind of old.

 

[Crissa]

These "demand" posts are getting kind of old.

Well, having a bunch of truck in transit isn't great, either.

If they had longer delivery times, we'd know they didn't. Otherwise, like mountain said, the have to wait for their numbers to come through.

The price they're asking is still way above the average truck - so there's only so many buyers who can swing it, no matter how awesome the product is.

-Crissa

 

[nocyber]

$40K was for a truck with 230 miles range.

The 500 mile model hasn't come out yet, and was never going to be first.

-Crissa

The reality is what was put forth in the announcement. The 500 mile variant (if there was going to be one) was always slated to be first. It never came to be, because it doesn’t exist. The $40k truck is what people came to reserve, it cost absolutely nothing to do at $100 bucks. This is why the reservations were out of control and you don’t need to look any further than the Model 3 reveal preorders to understand how this works.

 

[ABILISK]

Here’s all I know. Still today, veteran’s day 2024, this thing still turns every head that sees it. Whether they love it or hate it, they talk about it. People at work (who didn’t know who drove it there) were having a heated discussion over it - I didn’t chime in and just let them have their moment. You drive past a group of kids just off the school bus? Put some ear plugs in because they’ll make some noise. Everyone you pass will either be staring, taking pictures or flipping you off. But very rarely is there someone who doesn’t bat an eye. This thing gets attention and there are a ridiculous number of people who want to get behind the squircle. Once tax credits are confirmed or denied, I predict this thing will be on backorder for a while.

 

[GuyV]

What about?

f150 being a historically more known product than CT in two years?

Keep your subtext to yourself.

Not that I have anything against the F-150 I had for 20+ years, but cachet and most common do not go together. ?

 

[Mad4sax]

Here’s all I know. Still today, veteran’s day 2024, this thing still turns every head that sees it. Whether they love it or hate it, they talk about it. People at work (who didn’t know who drove it there) were having a heated discussion over it - I didn’t chime in and just let them have their moment. You drive past a group of kids just off the school bus? Put some ear plugs in because they’ll make some noise. Everyone you pass will either be staring, taking pictures or flipping you off. But very rarely is there someone who doesn’t bat an eye. This thing gets attention and there are a ridiculous number of people who want to get behind the squircle. Once tax credits are confirmed or denied, I predict this thing will be on backorder for a while.

I have been driving a gray Tundra for 8 years. Not one person has asked me about it or taken a picture of it. Not one head turned. LOL I will be trading for my Cybertruck any day now (have vin and done all paperwork). I wonder if it will get the same lack of notice as my Tundra gets??

 

[dalton108]

Honestly, this is a supply/demand problem caused by price. When you look at similar EV trucks (Rivian/Lightening), you get a lot more luxury for 100K. But even those at that price point aren't big sellers. 100K is a lot of dough. If Tesla gets that price down (i.e. in the 60s-70s maybe?) and is able to have it compete price-point with a Ford Lightening XLT, I think they will get more bites. Ford is now also offering 0% APR on 2024 Lightenings which is compelling too. If Tesla could offer that for CTs, they may get some nice bites as well, but they are only offering it for 3 and Y at this time.

They will get there. Demand will solve their price problem and force them to lower it. At the same time, they don't want to alienate us who just bought this truck. It would be a poke in our eye if they lowered it quickly. Because if they do, then the next time they want to release something, it may cause us to wait it out. Its a double edged sword.

1. I’ve never set foot in a Rivian, but I’ve seen just about every comparison video (and read every write/up) and there is and not one reviewer, of any stripe (Tesla friend or foe) that has ever suggested that the cybertruck is more “luxurious” than any Rivian.

2. The ideal that Elon/Tesla have any compassion or compunction about the idea of alienating its customers because of price drops is laughable. Just ask anybody who bought a Model S Plaid just before they cut the price by nearly $50,000 in 2023!

People were screaming bloody murder and they didn’t give a crap. I made out like a bandit on that deal when I purchased my Plaid in September of last year.

I’ll be hosed just like all FS buyers when they slash prices, but that’s the way the cookie crumbles and you can bet your ass Elon doesn’t give a flying fuck.

Past is prologue.

 

[dalton108]

Not that I have anything against the F-150 I had for 20+ years, but cachet and most common do not go together. ?

Tell that to the iPod, AirPods, or iPhone.

 

[CyberGus]

These "demand" posts are getting kind of old.

On this subject, you can trust a guy named “Old DirtyRobot”

 

[Jon Snow]

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.

The $40,000 version only had 200 miles of range or so if memory serves .. it was just the top spec that Tesla thought would have 500. Either way your point is valid .. prices went up for all and specs down for the top end range. I’m hesitant myself as I want a minimum of 400 miles.

 

[nocyber]

Just interjecting commentary for the purposes of history but I don’t believe that the CT receiving the $7500 tax credit will be a needle mover for units in a significant way. Do I believe a large % of people that ravage these forums will get off the hump? Absolutely. But I don’t correlate the average EV truck buyer to the average CT forum lurker.

Secondly, and I think I may have said this before, but I really truly don’t see the CT having its price cut in a meaningful way. You really just have to look at competition and costs right now and right or wrong the auto industry will not all of the sudden start marking down their full size pickups.. if anything the logic of legacy manufacturers cutting down trim levels has been done purposely to boost profits by having base trims start at a higher price will simultaneously allowing for premium trims to see YOY increases to MSRP.

The Cyberbeast is already competitive at $100,000 - if this truck ever hit $80k as a base price it would dwarf the competition. I don’t see it happening, even if I would love to see it happen.

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