{"id":36567,"date":"2023-12-03T10:06:51","date_gmt":"2023-12-03T10:06:51","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/teslas-cybertruck-feels-like-an-suv-price-lower-driving-range-upset-some"},"modified":"2023-12-03T10:20:35","modified_gmt":"2023-12-03T10:20:35","slug":"teslas-cybertruck-feels-like-an-suv-price-lower-driving-range-upset-some","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/teslas-cybertruck-feels-like-an-suv-price-lower-driving-range-upset-some","title":{"rendered":"Tesla\u2019s Cybertruck feels like an SUV; price, lower driving range upset some"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>Tesla\u2019s (TSLA. O) pricier-than-expected Cybertruck pickup, which offers driving ranges that fell well short of what CEO Elon Musk had promised, has deeply disappointed some but fascinated others with its futuristic, SUV-like feel.<\/p>\n

The Cybertruck, two years behind schedule, enters a hot pickup truck market to compete with the likes of Ford\u2019s (F. N) F150 Lightning, Rivian Automotive\u2019s (RIVN. O) R1T and General Motors\u2019 (GM. N) Hummer EV.<\/p>\n

Reddit co-founder Alexis Ohanian, who was among the first dozen customers to pick up the vehicle on Thursday, said the Cybertruck drives and feels like Tesla\u2019s Model X sport utility vehicle.<\/p>\n

\u201cInitial feeling about this vehicle \u2013 smooth, drives a lot like my Model X.<\/p>\n

It is big but not unwieldy,\u201d Ohanian said as he live-streamed his first drive of the Cybertruck on social media platform X. He said he\u2019d be the \u201ccoolest dad\u201d picking up his kid at school.<\/p>\n

Starting at $60,990, the Cybertruck is over 50% more expensive than what CEO Elon Musk had touted in 2019. That may narrow the appeal of the vehicle. Tesla\u2019s stock is down over 2% since before the launch.<\/p>\n

Among those disappointed is Texas-based financial services executive Christian Cook, who had booked a Cybertruck in 2019 after Musk promised a cheaper pickup that travels farther on a single charge.<\/p>\n

\u201cThe truck pricing and range is a huge let down,\u201d Cook, who drives a Model 3 and told Reuters he had made certain financial decisions based on his plans to buy a Cybertruck.<\/p>\n

\u201cMy respect for Musk has taken a huge hit. My loyalty to Tesla has taken a huge hit.
\nCFRA analyst Garrett Nelson said the steep price tag will lead to customers cancelling reservations and expects Tesla to adjust the pricing based on demand going ahead.<\/p>\n

The Cybertruck, made of shiny, bullet-proof stainless steel and inspired from a car-turned-submarine from a James Bond movie, is likely to uplift Tesla\u2019s brand that has been dented from steep price cuts to boost demand, according to analysts and branding experts.<\/p>\n

\u201cThe Cybertruck gets a lot of attention. It brings Tesla back top of mind,\u201d said Spencer Imel, a partner at consumer insights firm Langston.<\/p>\n

\u201cBut we don\u2019t see it helping Tesla gain ground in terms of becoming a mass market brand and competing with brands like Ford that are serving the everyday car buyer,\u201d he said. Indeed, the electric pickup\u2019s price and longer wait time for significant financial payoff left analysts concerned.<\/p>\n

Musk\u2019s personal ability to build the Tesla brand has also been questioned this week after a live interview in which he cursed out advertisers who left his X social media platform, formerly known as Twitter, over antisemitic material.<\/p>\n

That was creating nervousness among investors and some consumers and could be drag on Tesla\u2019s appeal, said Allen Adamson, co-founder of brand and marketing consultancy Metaforce.<\/p>\n

\u201cMany of Tesla\u2019s early adopters who bought into the dream of a sustainable future are being kind of rudely woken up,\u201d by some of the \u201cstrange things\u201d he has done, turning him from a \u201crebel\u201d into a \u201cmisguided person\u201d for some people, said JP Kuehlwein, an adjunct professor of marketing at Columbia University Business School.<\/p>\n

Cybertruck will not do much for Tesla\u2019s financials next year, analysts said. Bernstein forecast 250 deliveries this year and 75,000 for next year, saying both \u201cmay be ambitious\u201d. Musk has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025.<\/p>\n

The company has repeatedly warned that it would face significant challenges in ramping the product and becoming free cash flow positive \u2013 likely not until mid-2025 \u2013 which could negatively impact profitability.<\/p>\n

A brand refresh will be critical for Tesla, especially at a time when the company is battling softening electric-vehicle demand as well as rising competition.<\/p>\n

\u201cTesla has a product problem \u2013 i. e., an older line-up that does not address enough of the market, and has no new mass market offerings until likely late 2025,\u201d Bernstein analysts added.<\/p>\n

For More News And Analysis About Lesotho<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. Tesla\u2019s (TSLA. O) pricier-than-expected Cybertruck pickup, which offers driving ranges that fell well short of what CEO Elon Musk had promised, has deeply disappointed some but fascinated others with its futuristic, SUV-like feel. The Cybertruck, two years behind schedule, enters a hot pickup truck market to compete with the likes of Ford\u2019s […]<\/p>\n","protected":false},"author":84,"featured_media":36565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,246,245],"class_list":["post-36567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-lesotho","tag-lesotho"],"yoast_head":"\nTesla\u2019s Cybertruck feels like an SUV; price, lower driving range upset some - Lesotho<\/title>\n<meta name=\"description\" content=\"Tesla\u2019s (TSLA. 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