Musk first unveiled the Cybertruck again in 2019, however the manufacturing timeline has been torpid ever since. The primary autos had been delivered final fall, two years not on time. Barron’s reported in January that over 2 million individuals are on the ready record: new orders are presently being scheduled for 2027.
However Tesla lately introduced a brand new program that lets would-be patrons skip the road to get their arms on a brand new Cybertruck—however provided that they have already got $40,000 value of Tesla inventory.
Below this system, dubbed the “Early Cybertruck Supply for Lengthy-Time period TSLA Shareholders,” anybody who held no less than 500 shares of Tesla inventory two years in the past—and nonetheless owns no less than half that quantity immediately—is eligible to get early supply of a Cybertruck.
The cutoffs for this program imply it would solely be accessible to hardcore Tesla stakeholders—two years in the past, 500 Tesla shares had been value over $112,000. Even when they bought half of their stake, Tesla followers nonetheless must have no less than $40,000 value of shares to be eligible for the early supply program. (The early Basis sequence of the Cybertruck, the one mannequin that’s presently accessible, solely retails for round $80,000.)
Tesla required waitlisted patrons to place down a $1,000 refundable deposit to maintain their place in line final December. (The deposit goes in direction of the eventual value, but when patrons change their thoughts and resolve they don’t desire a Cybertruck, they lose the cash.) Tesla followers have ponied up, however they nonetheless don’t know when to count on their autos—the usual, rear-wheel-drive model received’t be accessible till 2025, in response to Tesla.
Tesla, which has lengthy led the U.S. in EV gross sales, has been struggling to take care of its electrical progress charge. The American market has few choices beneath the $50,000 mark, and Tesla’s lengthy been making an attempt to hurry a less expensive mannequin to market. Evercore analysts who visited the corporate’s Texas manufacturing unit simply issued a word forecasting that mannequin wouldn’t hit roads in power till no less than 2027, although.
Tesla delivered a report variety of autos final 12 months, however declining gross sales within the Chinese language market and a sequence of disappointing earnings have painted a cloudier image for the market chief. (A Wells Fargo analyst downgraded its inventory Wednesday, calling Tesla a “progress firm with no progress.”) However one factor Tesla does have going for it’s a military of Elon superfans—and, no less than for the Cybertruck, that needs to be sufficient to spice up gross sales for years to return.
