Tesla's Cybertruck feels like an SUV; price, lower driving range upset some

Tesla's Cybertruck feels like an SUV; price, lower driving range upset some

December 18, 2023

The arrival of Tesla's much-anticipated Cybertruck has ignited a flurry of emotions—mixing awe with disappointment—as the futuristic pickup truck hits the roads, promising a fresh outlook but stirring contrasting reactions.

Amidst soaring expectations, the Cybertruck's entry into the competitive pickup truck market brings an unconventional design and SUV-esque allure. However, its higher-than-expected price tag and underwhelming driving ranges have left some enthusiasts disenchanted while intriguing others with its avant-garde appeal.

Reddit co-founder Alexis Ohanian, one of the early Cybertruck adopters, provided live commentary during his maiden drive. "Smooth, much like my Model X. Big but not cumbersome", - he shared, capturing the essence of the Cyber Trucks SUV-like vibe. Ohanian’s enthusiasm was palpable, envisioning himself as the "coolest dad" at the school gates.

Priced at $60,990, the Cybertruck's cost overshoots earlier promises by over 50%, raising eyebrows and impacting Tesla's stock value, which dipped 2% post-launch.

For some, like Texas-based financial executive Christian Cook, the pricing and range fell short of expectations, leaving a bitter aftertaste. "My loyalty to Tesla has taken a hit", - lamented Cook, who had made plans based on Musk's promises of a more affordable pickup with extended range.

Analysts foresee potential reservation cancellations due to the steep price, prompting projections of future pricing adjustments by Tesla based on market demand.

Despite concerns, the Cybertruck's bullet-proof stainless steel construction, drawing inspiration from James Bond's iconic car-turned-submarine, is predicted to inject new vigour into Tesla's brand image. "It undoubtedly puts Tesla back in the spotlight", - remarked Spencer Imel from Langston, highlighting its attention-grabbing potential.

However, analysts remain cautious, sceptical of its immediate financial impact. Bernstein's forecasts suggest modest initial deliveries and challenges in achieving free cash flow positivity until mid-2025, casting shadows over Tesla's near-term financials.

Moreover, Elon Musk's recent controversies, including public spats and questions regarding his brand-building acumen, have sparked concerns among investors and consumers alike. Such instances, analysts fear, might erode the brand's appeal and alienate early adopters who championed Tesla's vision of a sustainable future.

As the Cybertruck hits the streets, it symbolises a bold step into the future for Tesla. Yet, its transformative impact on the company's fortunes remains a nuanced narrative — a fusion of innovation and scepticism, a test of brand resilience and adaptability in an evolving market landscape.