{"id":2112748,"date":"2023-11-30T19:58:02","date_gmt":"2023-12-01T00:58:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/starting-at-60990-teslas-cybertruck-is-priced-50-higher-than-initial-estimate\/"},"modified":"2023-11-30T20:09:08","modified_gmt":"2023-12-01T01:09:08","slug":"starting-at-60990-teslas-cybertruck-is-priced-50-higher-than-initial-estimate","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/starting-at-60990-teslas-cybertruck-is-priced-50-higher-than-initial-estimate\/","title":{"rendered":"Tesla&#8217;s Cybertruck now starts at $60,990, which is 50% more than the initial estimate"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fstarting-at-60990-teslas-cybertruck-is-priced-50-higher-than-initial-estimate%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2112748&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p><strong>December 1, 2023 \u2013 12:44 AM UTC<\/strong><\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Tesla\u2019s\u200d new\u200d Cybertruck is shown\u2064 on display at\u200c a Tesla store in San Diego, California, U.S., November \u200d20, 2023. REUTERS\/Mike Blake\/File Photo<\/figcaption><\/figure>\n<p>(Reuters) \u2013 Tesla\u2019s (TSLA.O) \u200dlong-delayed Cybertruck will \u200cbe priced starting at \u2062$60,990, over 50% more than what CEO Elon Musk had touted \u200cin 2019 and a cost\u200d analysts have said will draw \u200bselect, affluent buyers.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The truck, made of shiny\u2062 stainless\u200b steel and shaped into flat planes, is partly inspired by a car-turned-submarine in the 1977 James \u200dBond movie \u201cThe Spy \u2063Who Loved\u2064 Me,\u201d \u200dMusk has said.<\/p>\n<p>Its new body material and unconventional, futuristic \u200bstyling \u200dhas added complexity and costs to\u200b production, and\u200b threatens to\u2063 alienate traditional pickup truck buyers who focus on utility, experts say.<\/p>\n<p>But Musk, who has priced the vehicle\u2019s \u2062three variants between $60,990 and $99,990, said on Thursday \u200cthe Cybertruck\u2062 has \u201cmore utility \u200dthan\u200d a truck\u201d and is \u201cfaster than a sports car.\u201d<\/p>\n<p>He drove a Cybertruck \u2064onto a stage\u2063 to \u2062cheers from\u2063 the crowd and later handed over \u200bvehicles to about a\u200d dozen customers at\u200c an event in\u200b Austin, Texas.<\/p>\n<p>\u201cFinally,\u2062 the future will\u200c look like the \u200cfuture,\u201d he said about the truck\u2019s\u2062 design, showing a video \u2064of the Cybertruck\u2064 towing a Porsche 911 \u200cand beating\u200b another\u200b gasoline-powered 911 in a short race.<\/p>\n<p>Tesla\u200b shares\u2062 fell 2% in extended trading after closing off 1.6% at\u200b $240.08.<\/p>\n<p>Musk \u200cdid not\u2064 announce the\u200c vehicle\u2019s prices\u200c at\u2062 the event, but Tesla\u2019s website listed the prices. \u2062Its highest performance variant,\u2064 the \u2018Cyberbeast\u2019 will be available next year, as \u200cwill the all-wheel \u2062drive trim that starts at an estimated\u2064 $80,000.<\/p>\n<p>The cheapest rear-wheel drive version with an \u200bestimated starting price of\u200c about $61,000 will be available in 2025.<\/p>\n<p>\u201cThis is going \u200bto appeal to \u2026 definitely a wealthier clientele that can \u200bafford \u200dthe price point and they want something that \u2063is unique\u2064 and quirky,\u201d \u2063said Jessica Caldwell, head of insights at auto \u200dresearch firm Edmunds.<\/p>\n<p>\u201cThat \u200cjust isn\u2019t a large \u200dsegment of the population \u200cthat \u2062can afford that especially where interest\u200b rates are.\u201d<\/p>\n<p>After Musk estimated in 2019 that the \u200cCybertruck would sell for $40,000, the \u200dvehicle drew more \u2063than \u200ca million reservation holders who put down $100 deposits. He had not offered an updated \u200dprice before \u2064Monday, despite rising \u200braw material costs for EVs.<\/p>\n<p>New deposits are $250, Musk said on Thursday.<\/p>\n<p>The price\u2062 is not\u2064 a surprise to many, said Paul \u200bWaatti,\u200c an analyst at consultancy AutoPacific. Waatti \u200ctold Reuters\u200c before the event that the\u2064 Cybertruck would do well \u200cwith a \u200bsmaller audience.<\/p>\n<h2 class=\"wp-block-heading\">GRANDSTANDING SHOWPIECE<\/h2>\n<p>Cybertruck, two years behind schedule, enters a hot pickup truck market to compete with the likes of Ford\u2019s \u200c(F.N)\u2062 F150 Lightning, Rivian Automotive\u2019s (RIVN.O) R1T and General Motors\u2019 (GM.N) Hummer EV.<\/p>\n<p>Rivian\u2019s R1T has a starting price of $73,000, while the F-150 Lightning starts at about $50,000.\u2062 The larger and more \u200cpowerful Hummer EV pickup\u200b costs more\u200d than $96,000.<\/p>\n<p>The Cybertruck, Tesla\u2019s first new model in\u2063 nearly four years, is critical\u200b to its reputation as a \u2064maker of innovative \u2064vehicles. \u200cAt\u200b a time \u200bwhen the company is battling softening electric\u2064 vehicle (EV) demand and rising competition, Cybertruck\u2064 is also key for generating sales, though \u200bnot\u200d to the extent of the company\u2019s high-volume Models \u20623 \u200cand Y.<\/p>\n<p>Musk tempered investor expectations about the product last month citing problems\u200c in ramping production and warning\u200c that it would take \u200ba year to \u206218 months to make it a significant cash flow\u2064 contributor.<\/p>\n<p>Ahead of the launch, Musk captured media attention \u200con a different subject, giving a \u200d<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/johnny-manziels-talent-couldnt-outrun-his-greed-in-untold-his-legacy-cant-either\/\" title=\"Manziel's greed overshadowed his talent. In 'Untold,' his legacy remains tainted.\">profanity-laced interview<\/a> to the New \u2063York Times \u2063on Wednesday. \u200cHe cursed advertisers\u200c who left his\u2063 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/people-who-trash-their-family-in-public-cant-be-trusted\/\" title=\"Don't trust those who publicly criticize their own family.\">social\u200b media platform<\/a> X, formerly known \u2064as Twitter, because \u200bof antisemitic comments.<\/p>\n<p>On Thursday, he \u2064said \u200cabout the truck: \u201cIt\u2019s basically an incredibly \u2062useful truck. \u2063It\u2019s not just some \u200cgrandstanding showpiece \u2063like \u2064me.\u201d<\/p>\n<h2 class=\"wp-block-heading\">UNIMPRESSIVE RANGE<\/h2>\n<p>The Cybertruck\u2019s longest-range\u200c version \u200dcan\u2063 drive an \u200destimated 340 miles (547 km), and comes \u2062with a \u201crange extender\u201d or extra battery pack that extends its range to\u200c 470 miles.<\/p>\n<p>In 2019, Musk \u2063had\u2063 said the truck would be\u200b able to\u200d travel 500 miles or\u2063 more on a single charge.<\/p>\n<p>\u201cAs \u200ba truck, the Ford and Chevy are more useful and certainly easier to see\u200b out of,\u201d said\u200c Sam Abuelsamid, principal \u200dresearch analyst at Guidehouse Insights.<\/p>\n<p>\u201cGiven that Teslas almost always fall short of (range)\u200c estimates in real world\u200c driving by\u2064 anywhere from 10%-20%, I\u2063 wouldn\u2019t expect the longest range version\u2064 of\u200d the Cybertruck to achieve more than 300 miles on \u200cthe road,\u201d he said, noting that\u200d the Chevrolet Silverado EV is capable of exceeding its\u2063 450-mile rated range.<\/p>\n<p>Musk has said Tesla was likely to \u200creach a \u200cproduction rate\u200d of roughly 250,000 Cybertrucks\u200c a year\u2064 in 2025. \u2063He did not update that on Thursday.<\/p>\n<p>During its 2019 reveal, Tesla\u2019s \u2063chief designer Franz\u2062 von Holzhausen took a metal ball to demonstrate the truck\u2019s unbreakable \u201carmor\u200c glass\u201d window, only\u2064 to shatter it.<\/p>\n<p>Holzhausen on Thursday lobbed \u200da\u200c baseball at the Cybertruck window that bounced off.<\/p>\n<p><sub>Reporting by Akash Sriram in Bengaluru,  <\/p>\n<h2> How \u200bdoes the higher price\u200d of\u200d the Cybertruck compared to initial\u200c estimates impact Tesla&#8217;s target market and potential sales<\/h2>\n<p><span>  Tesla&#8217;s Cybertruck: A\u2063 Luxury \u2064Pickup for the Affluent<\/p>\n<p>December 1,\u2064 2023 \u2062\u2013 12:44\u2063 AM UTC<\/p>\n<p>After\u200d several delays, Tesla has finally announced the\u200d pricing for its highly anticipated Cybertruck. Starting at $60,990, the price is over\u200c 50% more than what CEO Elon \u200cMusk had initially promised back in\u200d 2019. This\u2064 elevated cost has led analysts\u2063 to predict that\u2063 the Cybertruck will only \u200cappeal to a select group of affluent buyers.<\/p>\n<p>The Cybertruck, made of shiny stainless steel and featuring\u2064 flat planes, draws inspiration from the iconic car-turned-submarine in the 1977 James Bond movie &#8220;The Spy Who Loved Me,&#8221; as\u200b Musk has \u2062previously \u200cstated. \u200cHowever, the unique body material and unconventional styling\u2062 of\u2063 the truck have\u2063 added complexity and production costs, potentially alienating traditional pickup truck buyers\u2062 who value utility.<\/p>\n<p>Despite this, Musk maintains that\u200d the Cybertruck offers &#8220;more utility than a truck&#8221; and boasts impressive speed, even surpassing that of a sports \u2063car. During a recent event in Austin, Texas, Musk drove the Cybertruck\u2063 onto the stage to cheers from the crowd and handed over vehicles to a\u2063 dozen customers.\u200c He emphasized the futuristic design,\u2064 showcasing a video of the Cybertruck towing a Porsche 911 and outracing another\u200d gasoline-powered 911 in a short race.<\/p>\n<p>Following the announcement, Tesla&#8217;s shares fell 2% in extended trading. \u2064Although the vehicle&#8217;s\u200c prices were not announced during the event, Tesla&#8217;s website listed the starting prices. The highest performance variant, \u200cknown as the &#8216;Cyberbeast,&#8217; is set to \u200dbe available next \u200byear with\u2062 an estimated starting price\u200d of $99,990. The all-wheel-drive \u200dtrim, starting at an estimated $80,000, \u200dwill also be available next year. The cheapest\u2064 rear-wheel drive version, priced at around $61,000,\u2063 will be released in\u200c 2025.<\/p>\n<p>Jessica Caldwell, head of insights at auto\u2063 research\u200c firm Edmunds, believes that the Cybertruck is likely to appeal to a wealthier clientele that seeks a unique and quirky vehicle. However, she also acknowledges that this segment of the population\u200d capable of affording such a vehicle is \u200brelatively small,\u2062 especially considering <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/without-fiscal-responsibility-u-s-headed-for-a-worse-economic-crisis-economic-policy-expert\/\" title=\"Without Fiscal Responsibility, U.S. Headed for a Worse Economic Crisis: Economic Policy Expert\">current interest rates<\/a>.<\/p>\n<p>While Musk initially \u2064estimated the Cybertruck&#8217;s \u200cprice\u200b to be $40,000 in 2019, the vehicle attracted more than a million reservation\u200b holders who put down $100 \u200cdeposits. Despite\u200d rising\u200c raw material costs for \u200celectric vehicles (EVs), Musk had not \u2064provided an updated price until recently. New deposits\u2064 for the Cybertruck now require $250.<\/p>\n<p>According to analyst \u200dPaul Waatti from consultancy AutoPacific, the Cybertruck&#8217;s higher price \u200dwas not surprising, as\u2063 he believes the vehicle will find\u200c success with a \u2063smaller, more niche audience. The Cybertruck enters a \u2062competitive market,\u200b going up\u200b against Ford&#8217;s F150 Lightning, Rivian Automotive&#8217;s R1T, and\u2064 General Motors&#8217; Hummer EV. Rivian&#8217;s R1T starts at $73,000, while the F-150 Lightning begins at \u2063approximately $50,000. The \u200blarger and more powerful\u2062 Hummer\u2063 EV pickup costs\u200b over $96,000.<\/p>\n<p>For Tesla, the \u200dCybertruck represents its first new model in nearly four\u2064 years and is crucial\u200c for maintaining its \u200dreputation \u200das an innovative vehicle \u200cmaker.\u200c As \u200cthe company faces \u200bdeclining electric\u200b vehicle demand and increasing \u2062competition, the \u2064Cybertruck is expected \u200bto\u2064 contribute to sales, although not to the extent of \u2062Tesla&#8217;s high-volume Models 3 and Y.<\/p>\n<p>In conclusion, Tesla&#8217;s Cybertruck, with its higher-than-expected pricing, is \u200clikely to attract a \u2063select group of affluent buyers who appreciate \u2064its unique design and advanced features. While it may not have the mass appeal of Tesla&#8217;s\u2064 other models, the Cybertruck remains \u200can important addition to the company&#8217;s lineup and\u200b reinforces its commitment\u2062 to\u200c innovation in the automotive industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla&#8217;s highly anticipated Cybertruck, which was recently showcased at a store in San Diego, will have a starting price of $60,990. This is more than 50% higher than what CEO Elon Musk initially projected in 2019<\/p>\n","protected":false},"author":1911,"featured_media":2112749,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2112748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2112748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2112748"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2112748\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2112749"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2112748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2112748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2112748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}