Cybertruck Searches Exceed Model Y, Cathie Wood-Led Ark Invest Analyst Says, 'It's A Good Sign'

An analyst from Cathie Wood-led Ark Investment Management tracked the search demand for the Cybertruck, the Model Y and the Ford Lightning 150, to draw interesting conclusions.

What Happened: Analyst Sam Korus noted that the search demand for Cybertruck surpassed both the Model Y and the Ford Lightning 150 on July 17th.

However, on a 7-day average, the search demand for the Model Y continues to be highest, followed by the Cybertruck.

If Google search trends were to serve as a marker for interest, the most interest for the Cybertruck is from Wyoming, North Dakota, South Dakota, Maine, Mississippi, Montana, Oklahoma and Alabama.

While the search demand for the Lightning has bumped up recently, possibly following the price cut announced on Monday, it still trails below the Cybertruck, as per google trends.

Why It Matters: Ford on Monday said that it is cutting prices of its F-150 Lightning by up to $9,979, bringing it down and closer to the Cybertruck’s estimated price. With the price cut, the least expensive model of the F-150 Lightning will start at around $50,000.

At the time of unveiling in 2019, Tesla estimated the Cybertruck to start at around $40,000 with its priciest version coming at around $70,000. However, these prices are expected to be bumped up upon deliveries.

The first Cybertruck rolled off the production line at Giga Texas over the weekend. According to Tesla CEO Elon Musk, a delivery event for the vehicle is expected later this year.

Photo Courtesy: Shutterstock.com

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

Read Next: Watch: YouTubers Drive ‘Worst Reviewed’ Car In America And Conclude It ‘Absolutely’ Makes Sense