In the US, Tesla increased the price of its most costly Cybertruck pickup truck model by $15,000 in spite of recalls and lower-than-expected sales.
The significant rise comes after a protracted rollout during which the truck has failed to live up to Tesla’s initial hopes, with sales thus far falling short of projections.
Now retailing for $114,990, the Cyberbeast model comes with a new “Luxe Package” that includes free use to its Supercharger network and Supervised Full Self-Driving. Other Cybertruck variants remained the same in price.
The model’s starting price of about $40,000 is far higher than CEO Elon Musk’s 2019 forecast. However, when the base model was introduced in late 2023, Tesla put the price at $60,990, which was more than 50% more than the initial goal.
Competition is fueled by rival vehicles like Ford’s F-150 Lightning and Chevrolet’s Silverado EV, which often have cheaper entry costs on specific grades as Cybertruck prices rise. Additionally, Tesla has been providing significant savings of about $10,000 on a few Cybertruck models that are currently in stock.
Musk has previously stated that Tesla could create over 125,000 Cybertrucks a year, with the potential to reach over 250,000 by 2025. However, he also cautioned about the challenges of ramping up production.
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