Tesla has halted order acceptance for the least expensive Cybertruck model, priced at $61,000. Simultaneously, according to its website, the company has made the $100,000 version available for immediate purchase, with delivery starting this month.

Tesla investors and fans closely monitor Cybertruck’s demand and supply due to CEO Elon Musk’s substantial investment in its development and the planned annual production of 200,000 units.

Cybertruck Demand Heats Up

As recently as October, Musk reported one million Cybertruck reservations. Some potential customers have expressed their intention to wait for less expensive models due to higher-than-anticipated prices and shorter driving ranges than initial estimates.

“It shows that demand is a lot less than a million trucks,” Guidehouse Insights analyst Sam Abuelsamid told Reuters. The Cybertruck achieved its highest monthly sales in July, with nearly 4,800 units sold. According to Cox Automotive, this makes it the top-selling vehicle in the U.S., priced above $100,000.

“They have sold more than 16,000 so far, but sustained high volume at that price point will be a challenge,” a Cox spokesperson said in an email to Reuters.

The Cybertruck features a unique trapezoidal design inspired by the Blade Runner film and a stainless-steel body. Deliveries began in November 2023, but production faced years of delays and challenges. In 2019, Musk predicted a $40,000 price point for the truck and projected a driving range of over 500 miles on a single charge.

Tesla’s website has removed the option to reserve the previously offered $61,000 Cybertruck with a 250-mile range and targeted 2025 delivery. The $99,990 dual-motor Foundation limited series, boasting a 318-mile range, is anticipated to be delivered as early as this month. Meanwhile, the $119,990 tri-motor Foundation Cyberbeast with a 301-mile range will be available starting in October.

“They’re sitting on a lot of inventory of two-motor and three-motor trucks right now,” Abuelsamid said.

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