Tesla Cybertruck Pricing Competitive with Industry Averages, Says Analyst
The pricing of Tesla Inc’s Cybertruck is competitive with industry-wide prices, according to an analyst from Cathie Wood-led Ark Investment Management. Although higher than the initial estimates provided by the company, the Cybertruck’s pricing matches the average transaction prices for full-size trucks and SUVs in the industry.
Sam Korus, an analyst at Ark Investment Management, stated that the Cybertruck’s pricing is in line with industry-wide averages. As of October 2023, the average transaction prices for full-size trucks and full-size SUVs were $66,184 and $77,906, respectively. This indicates that Tesla’s pricing for the Cybertruck is competitive and comparable to other vehicles in its segment.
Korus believes that the Cybertruck will serve as a research and development platform for Tesla, showcasing several innovations like ‘steer-by-wire.’ These features could potentially be replicated in future vehicles, giving Tesla a technological edge over its competitors.
Moreover, the analyst sees the Cybertruck as a “marketing machine.” The vehicle has attracted crowds at different showrooms, with people gathering to view it. Korus believes that the innovations in the Cybertruck will amplify Tesla’s technological lead and further establish its brand in the market.
The Cybertruck’s pricing starts at $60,990, with a premium version called the Cyberbeast starting at $99,990. These prices do not include additional features like a range extender or optional battery packs. Comparatively, Ford Motor Co’s all-electric 2023 F-150 Lightning truck starts at $49,995 for the base model and goes up to $91,995 for the most premium model.
It is worth noting that Tesla initially estimated the base model of the Cybertruck to start at $39,900 during its unveiling in November 2019. While the current pricing is higher than anticipated, it is still competitive within the industry.
Overall, the pricing of the Tesla Cybertruck is seen as competitive and in line with industry averages. The vehicle’s innovative features and technological advancements could give Tesla an edge over its competitors. As the Cybertruck hits the roads, it will be interesting to see how it performs in the market and if it can live up to the expectations set by its pricing and features.
(Photo by Mike Mareen on Shutterstock)
