Tesla’s 2 Million Cybertruck Reservations

The launch of Tesla’s bulletproof Cybertruck pickup has been delayed over and over again. That threatens Elon Musk’s electric vehicle (EV) company because Tesla has not launched a brand-new vehicle in years. One advantage of a late launch is that the backlog of 2 million people signed up for the Cybertruck continues to grow. However, even if production reached staggering levels just after launch, it could take years to build enough Cybertrucks to bring down demand. Some of the people on the waiting list are bound to buy another product. (These are America’s 17 favorite pickups.)

According to The Wall Street Journal, Tesla has delayed the Cybertruck’s launch again. Most recently, Musk said it would launch last quarter. With any luck, it will be released before the end of the year. “Tesla is betting customers are willing to wait for an electric pickup that will be unlike anything else on the road today,” a Wall Street Journal reporter writes. Its body does have an odd triangular shape and bulletproof glass. However, almost no one outside Tesla has driven one, so it cannot be said what the broader public will think.

Musk is taking a risk by releasing the Cybertruck late. First, Ford has already released its F-150 Lightning, the EV version of the most popular vehicle in America, which has held that distinction for four decades. Millions of Americans own an F-150, which gives Ford fertile ground for selling an EV version.

Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

The next two most popular vehicles in America based on sales are the Chevy Silverado and Ram. These are the F-150’s primary competitors. Each will have an EV version in the market next year.

ALSO READ: The 15 Most Fuel-Efficient New Trucks

Whatever the reason for the delay in Cybertruck’s launch, Musk is letting the competition get a head start. In Ford’s case, that head start is approaching two years.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Source: Read Full Article