The Cybertruck has arrived – a vital moment for Tesla!
Tesla’s share price has fluctuated significantly in recent months. This is due to various factors, including Elon Musk’s controversial statements, reductions in the prices of some models, a slowdown in battery production, and a pending lawsuit. Could the introduction of the Cybertruck stabilise the company’s share price?
Tesla released news and statistics about its Cybertruck yesterday, and the details were not what customers expected. The company plans to offer several versions of the truck, each with different specifications and pricing. In 2019, Tesla quoted a starting price of $40,000. However, the current versions released yesterday include the dual motor, starting at $79,990 with a range of 340 miles, and the tri-motor, priced at $99,990 with a range of 320 miles, which is the longest-range version available. This is a significant decrease from the 500-mile range that was quoted in 2019.
Customers who can’t afford the top models were expecting a more affordable Cybertruck variant. Unfortunately, this version will not be available until 2025, priced at $60,990 with a 250-mile range on a full charge. Tesla appears to have not met expectations, as evidenced by a 1.7% drop in the company’s share price.
To highlight the uncertainty surrounding Tesla, Barron’s reported yesterday that the stock Tesla replaced in the S&P 500 (Apartment Investment & Management) has outperformed the EV maker ever since.
Analysts are labeling this as the true test for Tesla. Keep an eye on what the future holds for Tesla.
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