Tesla’s Cybertruck Unveiling Sparks Mixed Reactions Amid Range Concerns and Pricing Disappointment

Edited by: TJVNews.com

Tesla’s long-anticipated reveal of the Cybertruck, held at the Gigafactory in Austin, Texas, has left a trail of mixed reactions and disappointment among critics and enthusiasts alike, according to a recent report in the New York Post. Elon Musk, Tesla’s CEO, hosted the event, describing the angular, stealth bomber-inspired vehicle as the company’s “best product” and the “finest in apocalypse technology,” the Post report added.

Despite the fanfare, some Tesla supporters expressed disappointment, citing concerns over the vehicle’s range and pricing. The entry-level rear-wheel-drive Cybertruck, priced at $60,990, is not expected to ship until 2025, eliciting frustration from eager buyers. According to the Post report, the mid-tier all-wheel-drive variant comes with a $79,990 price tag, while the top-tier “Cyberbeast” model is listed at $99,990, with an advertised range of approximately 320 miles.

Criticism heightened as users on Reddit voiced their displeasure, with some expressing disappointment in the Cybertruck’s range and consider the pricing “almost abusive” in comparison to the promises made during the initial announcement in 2019, the Post reported. Tesla shares faced a nearly 2% dip in early trading following the unveiling.

The Cybertruck’s delayed release and perceived departure from promised specifications have led to a less-than-enthusiastic response. The Post report also indicated that analysts, such as Needham’s Chris Pierce, noted that feedback on the vehicle appears underwhelming, emphasizing that Tesla’s truck lacks significant range advantages compared to rivals, such as Rivian.

Prominent tech reviewer Marques Brownlee echoed concerns, stating that the Cybertruck marks the first instance where Tesla is not delivering on key specifications promised during the announcement, the Post reported.

As Tesla navigates the aftermath of the Cybertruck unveiling, the electric vehicle market continues to evolve, and the company faces increased scrutiny from both enthusiasts and industry analysts alike.

The unveiling event featured demonstrations of the Cybertruck’s purported capabilities, including footage showcasing its bulletproof doors withstanding gunfire and its highest-end model winning a drag race against a Porsche 911, as was reported in the Post. Elon Musk, Tesla’s CEO, emphasized the vehicle’s unique features, such as the Cyberbeast’s 11,000-pound towing capacity and its impressive acceleration from 0 to 60 mph in 2.6 seconds, the report added.

“If Al Capone showed up with a Tommy gun and emptied the entire magazine in the car door, you would survive,” Musk said during the 30-minute presentation.

“We have a car here that experts said was impossible, that experts said would never be made,” Musk added, as was reported by the Post. “I think it’s our best product. It’s the most unique thing on the road and finally the future will look like the future.”

Gene Munster, a Tesla investor and managing partner at Deepwater Asset Management, noted that the Cybertruck was “a lot more expensive than I thought” and emphasized the need for increased production to bring down costs, according to the Post report. Munster acknowledged that the Cybertruck is not yet widely available, reinforcing the idea that it remains a niche entry in Tesla’s product lineup.

During the event, Tesla design chief Franz von Holzhausen playfully tossed a baseball into the Cybertruck’s window, recalling the infamous incident at the 2019 launch event when he accidentally shattered one of the truck’s windows with a metal ball, the Post reported.

Wedbush analyst Dan Ives, known for his optimistic outlook on Tesla, provided a positive perspective, stating that the Cybertruck, while not a significant financial driver in 2024, showcases Tesla’s innovation and technological leadership in the electric vehicle sector, as was noted in the Post report. Ives emphasized that Tesla’s competitors are struggling to catch up, highlighting the company’s dominant position in the industry.

Industry analysts also appeared skeptical of what they had seen. Needham analyst Chris Pierce told The Post that “the feedback seems to be underwhelming” and noted that Tesla’s truck “doesn’t have any significant range advantages” compared to its chief rival in the electric vehicle market, Rivian.

“To me that’s the most surprising, TSLA made a truck that’s similar in specs (but not design) to Rivian, versus being able to deliver something with technology advantages from their lessons learned as the EV standard,” Pierce said, according to the Post report.

As Tesla faces both praise and criticism following the Cybertruck unveiling, the electric vehicle market continues to evolve, with Tesla striving to maintain its position at the forefront of innovation in the sector.