Thursday, May 23, 2024
NewsThe Tesla Cybertruck has been Reserved by About 1.3 Million People

The Tesla Cybertruck has been Reserved by About 1.3 Million People

The Tesla cybertruck proves there is a market for electric pickups

  • The truck will enter production in about a year

  • The total reservations are worth close to $80 billion

  • Ford’s F-150 lightning is the closest competitor, with only 200,000 orders

The Tesla Cybertruck is the upcoming vehicle that has generated the most interest since it was introduced in 2019.

So many people want to own one that Tesla now has around 1.3 million pre-orders despite the design of the truck not being completely finished and its production still being a year away, if no other delays are added.

The futuristic electric pickup truck can be reserved with a deposit of only $100, which is part of the reason why so many people reserved one and many of these reservations will not lead to actual purchases.

Nevertheless, even if only half of the current reservations translate into sales, this is still more than three time more than the total number of reservations for the Ford F-150 Lightning, which will also not all become actual customers.

The current reservations hold a potential revenue for Tesla that is estimated to be close to $80 billion.

The closest competitor in terms of orders is Ford’s electric F-150, which currently has about 200,000 reservations, which is massive on its own, but tiny compared to Tesla’s numbers. The Rivian R1T currently has around 55,000 units on order.

Combined together, these three models show that there definitely is a strong market for electric pickups, despite what many were saying when automakers started hinting at such products.

The immense popularity of the Cybertruck can also be attributed in part to the Tesla frenzy, but also to its very distinctive appearance, which shows many customers want a vehicle that will make them stand out from a crowd.

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