Though higher than the initial estimates provided by the company, Tesla Inc‘s TSLA Cybertruck pricing is competitive with industry-wide prices according to an analyst from Cathie Wood-led Ark Investment Management.
What Happened: According to analyst Sam Korus, Cybertruck’s pricing is competitive. It matches with industry-wide average transaction prices of $66,184 for full-size trucks and $77,906 for full-size SUVs as of October 2023, they said.
The analyst sees Cybertruck serving as a research and development platform with its several innovations like ‘steer-by-wire.’ These features could later be replicated on other future vehicles, Korus noted.
Further, the ‘potentially profitable’ vehicle is a ‘marketing machine,’ Korus said, referring to the crowds gathering at different showrooms to view the vehicle. The innovations in the vehicle could amplify Tesla’s technological lead over competitors, they noted.
Why It Matters: The Cybertruck's pricing starts at $60,990, with its premium version, the Cyberbeast, beginning at $99,990. This does not include the range extender or the optional battery pack that fits into the truck’s bed and can be used to extend the range to a maximum of 470 miles.
To provide a scale, the base model of Ford Motor Co‘s all-electric model year 2023 F-150 Lightning truck starts at $49,995. The most premium model of the Lightning, the Platinum, is priced at $91,995.
During its unveiling in November 2019, Tesla had estimated the base model of the Cybertruck to start at merely $39,900.
Photo by Mike Mareen on Shutterstock
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Read Next: Ford’s EV, Hybrid Sales Surge In November: F-150 Lightning Leads The Pack
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