The Tesla Cybertruck generated a ton of media attention upon its debut in 2019, mostly to its strange exterior styling, but also in part due to its low starting price of $39,900. While the Cybertruck’s sci-fi-inspired looks will carry over to the production model, the enticing sub-$40,000 starting price will not.
During a Q&A session held during the automaker’s shareholders’ meeting, Tesla CEO Elon Musk was asked about the pricing of the Cybertruck and if it will still start at $39,900 as initially promised. The outspoken executive confirmed the pickup’s “specs and pricing will be different,” than what was divulged in 2019, before saying he hates “to sort of give a little bit of bad news.”
The Cybertruck’s $39,900 base price would have applied to the single motor, rear-wheel-drive model only. The dual-motor AWD version of the truck was set to be priced from $49,900, while the range-topping tri-motor version started at $69,900. This pricing structure was considered to be a bargain in 2019, so it’s unsurprising to see Tesla apply new prices given the inflation-related challenges many automakers are currently facing.
Tesla’s decision to go back on its sub-$40k base price is interesting given that both Chevy and Ford appeared to have followed its lead with pricing for their respective battery-electric trucks. Pricing for the Chevy Silverado EV in the base WT trim level will start at $39,900, while the Ford F-150 Lightning starts at $39,974.
Tesla had initially said the Cybertruck would begin rolling off the assembly line in late 2021, with the range-topping tri-motor version arriving in late 2022. Musk now says the company is targeting a production start of mid-2023 following years of delays, some of which were related to the COVID-19 pandemic and semiconductor chip shortage. Production of the 2024 Chevy Silverado EV will begin in early 2023, while production of the automaker’s first new EV truck, the GMC Hummer EV Pickup, began late last year.
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Comments
We will see the base rear motor Cyber Truck in 2024 at best, starting at $49k for the poverty version but nothing available below 60k.
@Mr. Mike
I do not think we will ever see the Single Motor if I was a betting man.
If reports are true the take rate was way too low. Does anyone offer a Single Motor Pickup Truck?
By that time, I’m pretty sure I won’t be able to wait that long but thanks to his lies… think we’d all be better off not buying until the price is met.
I said this the day it was introduced. Musk has a habit of promising things that vanish once the introduction arrives years later.
Kinda figured they most likely wouldn’t be doing the Single Motor version as per Reports only 13% of the Pre-Orders were that version. They also announced a Quad Version too.
Unless Tesla has a PR division (which they don’t) any reports are made up. For ICE trucks a lot of RWD trucks are sold. The need for triple and quad motors makes sense if this is a true off-road vehicle. But for most trucks single and dual motors is more than enough.
@theflew
I understand that on ICE Trucks they sell plenty RWD versions. I was asking if any BEV Pickup is RWD only as of yet.
Exactly as I predicted 3 years ago when they announced this thing.
Not surprising at this point but the Cybertruck will be dud by the time it comes out.
Will current Tesla fans flock to it? Sure. But not in the numbers Tesla needs to match the success of the Model 3 or Y.
This was intended to be the only EV option for truck drivers when it was introduced but the legacy automakers not only caught up but beat Tesla to the punch and now will significantly undercut it in price.
Can you provide the data that supports your assertion that “legacy automakers not only caught up but beat Tesla to the punch and now will significantly undercut it in price”?
When you say caught up, are you referencing production? Because here are the numbers from Q1. Tesla vehicle deliveries crossed 310,000 units in Q1 2022, a YoY increase of 68%. Revenue reached a record high of $18.8 billion during the quarter.
By contrast, GM released its Q1 2022 delivery results revealed that it only delivered 457 electric vehicles during the last quarter. Those numbers include the following: Chevrolet Bolt EV/Bolt EUV: 358 (down 96% year-over-year from 9,025) GMC Hummer EV Pickup: 99 (new) Total: 457 (down 95%)
These are publicly released numbers. The premise of your statement that GM has “caught up” is demonstrably and categorically false.
And if GM believe that it’s path to victory is to undercut Tesla on price, then good luck with that. There is no way that GM is making any money at all on anything that has been sold based upon such feeble production numbers, compared to the 30% plus margins that Tesla is making on its vehicles with demand for them far outstripping available supply. That is why used Teslas are fetching ASPs (average selling prices) higher than brand new Tesla vehicles.
I am not a Telsa “homer”, but I can read, can understand the numbers, and GM is at this stage, not a relevant player in the market, notwithstanding all of the announcements of upcoming products and what not. Your assertion that Cybertruck will be a “dud” is a subjective opinion which you are entitled to have. But judging by GM’s poor production results thus far, I am far inclined to believe that Tesla, once Cybertruck is introduced in market, will outsell GM. Tesla has a massive overall lead, measured in terms of production numbers, revenue, and profitability, with the most advanced and largest EV factories in the world. GM has its work cut out for itself.
See Ford F-150 lightning out now and Chevy Silverado EV out next year.
GM is still ramping up EV production but is still releasing product relatively on time.
I don’t see why Ram can’t do the same with Stellantis putting it’s whole engineering weight into getting the Ram EV out in a timely manner.
Tesla unveiled the Cybertruck three years ago and yet still no official start date for the Cybertruck.
You made an interesting remark doubting that Cybertruck would ever be a success. As you put it, “Tesla needs to match the success of the Model 3 or Y.” The rhetorical question that I would put to you is, will GM’s Chevy Bolt exceed the results of its predecessor with the new models, compared to the first iteration? What convinces you that the next iteration of the Bolt won’t be a “dud” unlike the first?
I heard that Ford might raise the Lightning price by as much as $8500
You heard correctly. 2023 Lightening prices are up between 6000 to 8500 depending on model as reported on the sister site at Ford.
Judging by your reply, it is very clear that you have a poor understanding of manufacturing EVs versus conventional ICE vehicles, as you make a number of unsubstantiated assumptions that have been shown to be faulty.
“See Ford F-150 lightning out now and Chevy Silverado EV out next year. ”
For 2022, 15,000 Lightning trucks will be produced in all. In its first month on sale, Ford moved 201 new Ford F-150 Lightning EV pickup trucks in the United States. For comparison, just 99 GMC Hummer EV Edition 1 trucks found their owners in Q1 of 2022.
“GM is still ramping up EV production but is still releasing product relatively on time.”
Can you provide proof of that? Because your assertion is not based on facts.
“I don’t see why Ram can’t do the same with Stellantis putting it’s whole engineering weight into getting the Ram EV out in a timely manner.”
Again, you’ve made a statement without any supporting facts to strengthen your claim. The problem with your position is that you have made the assumption that manufacturing an EV is the same as manufacturing an ICE based vehicle. Nothing could be further from the truth. You should perhaps familiarize yourself with how Tesla has completely and fundamentally reinvented and innovated on the entire vehicle assembly process. I would suggest that you view the Sandy Munro videos on YouTube to see how innovations such as the die cast GigaPress, where 72 welded parts were eliminated into one; in-house software development, the advanced use of robotics, the securing of massive amounts of battery capacity, far more than any of the legacy competitors. Manufacturing in the EV realm is a whole new game. Those plants cannot be re-tooled; they must be re-built from the ground up at considerable cost to already heavily indebted incumbents.
“Tesla unveiled the Cybertruck three years ago and yet still no official start date for the Cybertruck.”
Better stay up with the news. In March 2022, it was confirmed that Tesla aims to complete Cybertruck development this year for production in 2023. A significant part of the delay has been attributed to Tesla updating the design of the Cybertruck on several occasions and until now, it was known if the automaker had finally settled on the final design.
Yes, there have been delays with Cybertruck, and no doubt supply chain constraints and other material shortages as a result of global events have impacted everyone, including Tesla. Tesla Austin is where it will be built, along with the Tesla Semi. Lets see how that plays out, but my point is that in terms of overall ACTUAL DELIVERIES OF VEHICLES, the ICE incumbents are starting from behind, which they themselves acknowledge.
Don’t let facts obscure you from reality.
How many Cybertrucks were delivered in Q1 or Q2 this year. I question how many will be delivered by end of Q3 next year. I guarantee GM will sell more Silverado EV’s than Tesla’s Cybertruck next year. The Hummer EV is basically GM’s ramp-up for the Silverado EV.
I don’t know who needs to hear this, but the cybertruck DOES NOT EXIST. It isn’t real! If something bearing its name does hit the market it sure won’t look completely like the concept. He’ll just keep delaying it like the roadster which he said could do 0-60 in less than a second didn’t he? The man isn’t exactly the pillar of truth and accuracy.
Yes, Cybertruck has yet to be introduced in the market, and it is still relatively early days in the shift from ICE to EVs. Yes, it’s true that Elon often makes predictions regarding product release dates that are often off. But that’s small potatoes if we look at the overall big picture which you seem not to want to. It is a fact that Tesla is the global share leader in the EV space based on actual numbers of units sold, revenue, market share and profitability. Let’s see how things play out in the months to come as well as next year. The incumbents are losing money with every vehicle that they have sold this far because of the relatively miniscule volumes. It remains to be seen who will have the battery capacity to enable products to get in the hands of consumers. And that more than anything will determine winners and losers.
This doesn’t bode well for the $30,000 Equinox if everyone is raising prices.
It is guaranteed that they are losing money on every vehicle sold. A first year college economics student would know that. Not a sustainable or winning strategy long term. Then again, Government Motors aka GM can always extend its hand a find someone willing to lend it a hand to keep it going…
$30k isn’t hard to believe if you take an ICE Equinox, take out all the ICE components replace it with EV components designed for the Lyriq, Blazer, Brightdrop, Hummer EVs but using the lower hp motors and smaller drivetrain, smaller battery, etc… The point of Ultium is to give GM scalability thru multiple models. They don’t need one model to sell 500k+ copies.
Most regular car buyers can care less about vehicle performance. They are very use to 8+ second 0-60 times.
To “the flew”. How can you possibly say that “$30K isn’t hard to believe” regarding the sell price of an EV Equinox?? Do you have a costed BOM for the ICE vehicle? Do you have a costed BOM for the electric components replacing the ICE components? Do you have a detailed list of the body / suspension modifications required to change from ICE to EV? Do you have a cost estimate of the production tooling investment for body / suspension changes, assembly plant changes, and modified electrical components. Do you have a vehicle sales volume estimate in mind over which to amortize the tooling investment required to build the vehicle? Based on your comment above I would say you do not have answers to any of these questions, so, again, how did you evaluate the viability of a $30K price for an electric Equinox?
Don’t take it from me, just some guy posting on a forum. I think that “theflew” would be best to familiarize himself with the excellent set of YouTube videos done by Sandy Munro, an ex-Ford engineer, on the vast differences in manufacturing an EV versus an ICE vehicle. It is night and day. Those ICE manufacturing lines are a financial albatross around the necks of OEMs and confer no competitive advantage whatsoever in the pivot to EVs. Sunk costs in the billions of dollars that cannot be easily re-purposed for EV production except at significant cost. Oscoda’s Bill’s point is well taken. GM is not operating from a place of competitive advantage conferred by scale and volume because they have no meaningful volume at present. So he is correct to question the viability of $30K price. Even the CEO of Ford acknowledges that Tesla has the best margins in the industry. Here’s the quote: “Well, the companies that I think about that I admire because of their commitment — and frankly, the hard work they did to earn their reputation — are companies like NIO and Tesla. They’ve been at this a long time. They engineer their vehicles differently. I’m most respectful of Tesla’s profitability. They’re now making more than $10,000 a vehicle in their second quarter earnings… To get the margins that we see at a company like Tesla, we need to have real experts that can drive that scale.” Facts, not bravado or playing the part of a hometown Homer.
Are there special EV robots, presses, welders, paint booths, conveyors,etc…? Those things don’t change regardless of ICE or EV’s and GM and legacy manufactures have those in spades. Yes building electric motors and battery packs are different, but that’s just assembly. It’s not like ICE manufactures have never built a eletric motor before. Granted they would just find a supplier to do it.
You really need to familiarize yourself and understand how the new EV players such as NIO and Tesla have truly reinvented the vehicle manufacturing process. Please look at the excellent series of videos from Sandy Munro, an ex-Ford engineer. To quote Jim Farley, Ford CEO, “”Well, the companies that I think about that I admire because of their commitment—and frankly, the hard work they did to earn their reputation—are companies like Nio and Tesla. They’ve been at this a long time. They engineer their vehicles differently. ” The premise that vehicle manufacturing is “just assembly” is fundamentally flawed and incorrect, and cuts to the heart of why the legacy OEMs are in extreme danger of going out of business. There are numerous articles out there that detail this to various degrees. This NYT article, https://nyti.ms/3AaksXk, details their prowess in software re-design and chip innovation; this article https://bit.ly/3JJqlxU talks about the first of a kind use of a die casting press (GigaPress) to literally stamp the uni-body as one whole piece versus multiple pieces using hundreds of welds. The game has changed, and it is the OEMs who are locked into the outsourcing, third party supplier model that is rigid and does not enable you to innovate on the fly (as Tesla does over the course of a model year) that puts them at a distinct competitive disadvantage. Begin with the Sandy Munro videos on YouTube to start, and you’ll come to realize that the OEMs are playing checkers, while innovators like NIO and Tesla are playing multi-dimensional 4-D chess.
You show my any proof ANY my statement isn’t true. Tesla’s front and rear underbody are casted. Everthing else is stamped and welded. Even those cast parts have to be finished. Excess metal cut off, holes tapped, inspected for cracks. Just because Tesla shows a video of a piece coming out of cast doesn’t mean step two is installing it.
I don’t really understand what point you are trying to make. Tesla’s innovation in manufacturing methods have been well documented and reported widely. This is not recent news. Even rival CEOs like Jim Farley at Ford have given Tesla fair credit for their innovations in engineering, manufacturing and software development.
Tesla announced back in 2018 that they would be simplifying the body structure of its Model Y SUV, making it the first vehicle of its kind to feature two large single casting pieces at the front and rear of the vehicle. The automaker has made a partner for the single-piece rear casting, integrated in with a complementary part for the Model Y’s front end.
The single-piece rear casting was shown to reduce the 70 individual pieces of metal in the Model 3 rear end down to one in the Model Y. Production on the updated Model Y has already begun at Tesla’s Gigafactory Berlin and Gigafactory Texas.
The automaker developed a new alloy in order to produce such a large part in one piece. Tesla took things a step further by producing the front underbody of the chassis using the same process and link it to the back with a new structural battery pack. This new body is now being produced for Model Y at Gigafactory Berlin.
If you want to argue minutiae about welds and such for the sake of not wanting to give Tesla fair credit, that is your prerogative. But it means little in the bigger scheme of things. Already, other EV manufacturers, like VW Group and several up and coming Chinese EV entrants have also announced that they too will adopt this new approach towards vehicle manufacturing and assembly.
Tesla is leading the industry in simplifying vehicle engineering, manufacturing and assembly, whether you want to acknowledge that or not. Are they perfect? Absolutely not. Their past quality scores were middling to say the least, but they are improving, and can still be better. Panel gaps and paint job quality has rightfully been called out. But they are trending better according to their recent JD Power scores. With a relentless focus on simplifying (or eliminating altogether) parts, and streamlining processes using an iterative, agile approach (like that used in software development). they are showing that they are able to produce more cars at a higher production frequency than their peers. And in the end, production, and getting product to market is what will count. The OEMs have a steep hill to climb, if the last quarter production numbers are an indication.
“The best part is no part. The best process is no process. It weighs nothing. Costs nothing. – Elon Musk
Dave, I was with you on most of the things you were stating, and although I strongly disagree on some things you said, you just blew your credibility by calling GM, “Government Motors” and not worth my time to debate any you say.
Sorry if your feelings are hurt Al, but facts are facts. The government retains a majority share in the restructured GM, whether you want to acknowledge that or not. A brief recap: In July 2019 General Motors announced that the company paid $4.7 billion to the U.S. government and $1.1 billion to the Canadian government, fulfilling its obligation agreed to when it received its initial bailout funds. In total, GM received $52 billion from the U.S. government, but only $6.7 billion of this amount was considered a “loan.” (Hmmm…okay). The company already paid back $2 billion, so the $4.7 billion was considered the last payment.
In Canada, while the Liberal government wrote off a taxpayer loan to the auto industry in March 2017, it refused to say how much of the GM loan was for or provide any other details. The Canadian government has been carrying large, stagnant loans to the auto sector on its books, and repayments have been past due since at least 2010. That was the year that followed a federal bailout of GM and Chrysler that was made in co-ordination with a much larger cash injection by Washington. The most-recent public valuation of commercial loans that remain in arrears shows a total of $1.15 billion still owed to the federal government as of March 2017. The point is that notwithstanding any payback efforts to date made by GM, they remain incomplete when measured against the known “loans” or other subsidies provided to them to date. The bottom line is that even today in 2022, the US government still owns a controlling portion of the restructured GM. Though it will eventually relinquish its ownership, it will still be an owner for some time.
I think my credibility regarding GM’s financial position remains fairly solid. My eyes are open with regards to the relative strengths, weaknesses, opportunities and threats facing legacy OEMs. You might want to open yours. Compare the Altman Z scores for the legacy OEMs like GM compared to Tesla. Facts do matter and they have a significant bearing on GM’s ability to pivot from ICE to majority EVs. Given their absence in China, the world largest and fastest growing car market in the world, that should give you significant pause for their future.
All these guys are like little kids….. They announce cars at unrealistically low prices and then jack them up here $10,000 or ($3000 for my upcoming Caddy Lyriq – the first model anyone could reasonably to have expected to order since they shut down the order process faster than anyone without foreknowlege could have completed).
More Junk!
We are on our second Tesla. Purchased because we wanted an EV. Neither were/are close to the quality/reliability of our Honda Pilot or our RAM 1500. Tesla will have to up its game with upcoming EV competition. We will be shopping for a new EV in 2023-24. I do not know what to think about the Cybertruck.
You say that you are on your 2nd Tesla? Hmmm….please elaborate. Which models? What kind of mileage? City usage? Fleet usage? It is impossible to draw any conclusions regarding quality or reliability claims that you are making without more data to make a fair comparison. This is anecdotal at best, assuming what you are alleging is true.
I’d be interested in understanding how you assessed total cost of ownership of the Teslas (you say that you have two…..congrats! I guess you must have liked it enough to buy a second, right)? versus the two ICE vehicles you have referenced, the Honda Pilot and the RAM 1500. How have increases in gas prices affected your EV versus ICE vehicle usage? I’m also curious why you chose Tesla over lets say, the Chevy Bolt as your choice of EV. Perhaps you could share with us your buying criteria that you used when you purchased the TWO Teslas as you stated?
It’s also a bit odd that while you say that you have two EVs, you can offer no opinion about the Cybertruck. I guess we’ll have to wait until that vehicle is released, and look for more honest, apples to apples assessments. Time will tell, right?
I agree – everyone has to up their game. The Chinese EVs are on the way, and I guarantee they will give the legacy OEMs a serious run for their money. BYD. X-Peng. NIO. And others you’ve not heard of, but whose quality is better than you might expect. With the Chinese domestic economy falling into recession, expect a glut of EVs to be exported and hit the NA markets just as the domestic OEMs are trying to get their fledgling models out the door. I wonder if that’s the dealer door? Or the direct manufacturer door? Luckily, buying a Tesla means not having to deal with the most despised part of the current buyer experience – that of the dealer. Perhaps you can share your respective buying experiences of buying ICE vehicles versus the TWO Teslas you say that you have?
For everyone’s sake, given the outsize impact the auto industry has on our economy, I hope the domestic OEMs have products that people actually want to buy in adequate volumes. Buckle up folks, and be ready to compete. The next few years are going to be wild.
We have one Tesla, a Model Y, it is our our second Tesla. Our first was a Model 3. We looked at the Bolt, found it small and seating very uncomfortable. We went to an EV after installing a large solar system. Later we added a Tesla power wall. We are a family using all the vehicles we own. I do prefer not going to a dealer but both our RAM and Honda dealers were professional and concerned with customer service. We will see what is offered in EVs in 2023-24. We will be looking at the new competitors. I am not a fan of buying any vehicle in the first year of production.
I have not calculated any cost comparisons and luckily don’t need to. With gas prices up our Tesla has been driven more often, guess it just seems more sensible. We use the Pilot for long road trips and the RAM tows my wife’s horse trailer to shows.
My experiences are only mine but are based on what has happened as we use them. Our model Y is better than our model 3 but for instance not up to Honda’s fit and finish or RAMs interior materials and layout in our opinion.
I am hoping for many high quality EVs going forward but still not going to abandon ICE vehicles yet.