As Tesla's First Cybertruck Rolls Out, Analyst Details How The EV Pickup Truck Could Be Priced Versus Rival Offerings From Ford, Rivian

Tesla, Inc. TSLA created a flutter this weekend by announcing that the first Cybertruck had rolled off the Giga Texas production line.

Ahead of the announcement, Gary Black, who is extremely bullish about the newest Tesla vehicle, delved into its potential pricing upon launch.

What Happened: The price of the Cybertruck could start just above the price of the Model Y, said the Future Fund managing partner on Twitter. The analyst said he expects Tesla to price the three variants as follows:

• Single motor rear-wheel drive version: $49,900
• Dual motor all-wheel drive: $59,900
• Tri-motor all-wheel drive: $79,900

At the time of the unveiling in 2019, Tesla priced the three variants at $39,900, $49,900 and $69,900, respectively.

Cybertruck Vs. Rival Offerings: The Cybertruck will compete well against Rivian Automotive, Inc.'s RIVN R1T electric pickup truck, which has a starting price of $74,800 on the high end, Black said.

The pricing will allow all trims of Cybertruck to qualify for the $7,500 electric vehicle tax credit under the Inflation Reduction Act of 2022, the fund manager added.

Ford Motor Co.'s F F150 Lightning electric pickup truck is priced between $59,974 and $98,074, he said.

See Also: Everything You Need To Know About Tesla Stock

Black has been sharing the explosive growth potential of the Cybertruck. He also expects the vehicle to have a positive impact on the sales of other Tesla models. "Potential customers will see the Cytruck in person or on social media and go to the TSLA website or store and buy another TSLA model even if they don't buy a Cytruck," he said earlier this month.

As opposed to the Street volume growth estimate of 27% for Tesla in 2024, Black sees the Elon Musk-led company's volume growing by 53%, as the Cybertruck production ramps up.

Tesla closed Friday’s session 1.25% higher at $281.38, according to Benzinga Pro data.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

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