Tesla (TSLA.US) stopped taking orders for the cheapest version of Cybertruck.

Written byAInvest Visual
Saturday, Aug 10, 2024 2:50 am ET1min read
TSLA--

According to Tesla's (TSLA.US) website, Tesla has stopped taking orders for the cheapest version of the Cybertruck, which costs $61,000, while the $100,000 version of the Cybertruck can be ordered immediately and is expected to be delivered as early as this month.

The supply of Cybertruck has been closely watched by Tesla investors and fans, as CEO Elon Musk has poured significant resources into developing the Cybertruck and plans to produce 200,000 Cybertrucks a year. In October last year, Musk even said Cybertruck orders had reached 1 million.

However, with the longer-range version of the Cybertruck less than initially expected, many customers are now more inclined to buy the cheaper version of the Cybertruck.

Cox Automotive data shows that Cybertruck sales in July were close to 4,800, the best month to date and the most popular vehicle in the U.S. above $100,000. A spokesman for Cox Automotive said: "So far Cybertruck has sold 16,500, but maintaining high volumes at this price point will be a challenge."

Musk said in November last year that Cybertruck was a great product, but that it would take a year to 18 months for the vehicle to become a significant positive cash flow contributor. He also said that the new technology involved would increase manufacturing difficulty, "we are digging our own grave in developing Cybertruck."

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