{"id":59449,"date":"2023-12-03T15:24:33","date_gmt":"2023-12-03T15:24:33","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/teslas-cybertruck-feels-like-an-suv-price-lower-driving-range-upset-some"},"modified":"2023-12-03T15:50:57","modified_gmt":"2023-12-03T15:50:57","slug":"teslas-cybertruck-feels-like-an-suv-price-lower-driving-range-upset-some","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/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 – Namibia. <\/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. 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. \u201cMy respect for Musk has taken a huge hit. My loyalty to Tesla has taken a huge hit.\u201d<\/p>\n

CFRA 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.<\/p>\n

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.<\/p>\n

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 Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. 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 (F.N) […]<\/p>\n","protected":false},"author":84,"featured_media":59448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[234,236,233],"class_list":["post-59449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nTesla\u2019s Cybertruck feels like an SUV; price, lower driving range upset some - Namibia<\/title>\n<meta name=\"description\" content=\"Tesla\u2019s (TSLA.O) pricier-than-expected Cybertruck pickup, which offers driving ranges that fell well short of what CEO E ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/teslas-cybertruck-feels-like-an-suv-price-lower-driving-range-upset-some\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tesla\u2019s Cybertruck feels like an SUV; 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