According to a recent report, Tesla is now aiming to start Cybertruck production late next year, instead of next summer.
Back in September 2021, Andre covered reports stating that electric manufacturer Tesla would kick back production of its first pickup into 2022. Now, as we get close to wrapping up 2022, a new Reuters piece says that production will begin at the end of 2023 — a full two years behind the original launch date.
Specifically, the latest report cites two unnamed sources with close knowledge of Tesla’s plans. We already knew the company would take at least until the middle of next year to launch the Cybertruck. CEO Elon Musk told financial analysts that, “We’re in the final ap for Cybertruck”, with early production set to kick off at Tesla’s Austin, Texas Gigafactory at that time. Now, it appears that Tesla has pushed back that timeframe once more, though Tesla itself has not made an official comment to that effect.
As some additional context, Musk originally revealed the Tesla Cybertruck back in 2019. Roman rode in the prototype, though we haven’t had another chance to experience it since. That’s because the company has since pushed back production three times: from 2021 to 2022, then early 2023, then mid-2023 as Musk cited component shortages as an aggravating factor for Tesla’s production delays into 2023. If this latest report is indeed accurate, the late-2023 Cybertruck production date would mark a fourth delay since the prototype’s debut.
Tesla stopped accepting reservations outside North America in May. At the time, Musk said that the automaker is contending with “more orders of the first Cybertrucks than we could possibly fulfill for three years after the start of production.”
How much will the Tesla Cybertruck cost, anyway?
While folks who put down a $100 deposit have been waiting, Tesla quietly removed Cybertruck specifications and pricing from its website in October 2021. The debut price for the truck was supposed to be $39,900. At this point, though, the launch price will almost certainly be higher, be it because of inflation, parts shortages, the need to recoup more lost revenue, or all of the above.
At Tesla’s shareholder meeting in August, Musk responded to a question about higher Cybertruck pricing with the following point, as noted by Electrek:
“Cybertruck pricing, it was unveiled in 2019, and the reservation was $99 – and a lot of changed since then. The specs and the pricing will be different. I know it’s a little bit of bad news, but there was no way to anticipate the inflation that happened and various issues, but what I can say is that Cybertruck is going to be one hell of a product. It’s going to be a damn fine machine.“
How will the timeframe affect the Cybertruck’s sales?
At this point, Tesla’s gone from potentially being the first to launch an electric truck to falling behind both Ford, Rivian and General Motors. By late 2023 and early 2024, it will face even more competition. Provided the company sticks to its own manufacturing targets, GM should launch both the Chevrolet Silverado EV and the GMC Sierra EV Denali Edition 1 by that time. Tesla may still beat Ram to the punch, though we may see the “Revolution” electric truck sometime in 2024.
Adding to possible headwinds are the economic conditions. Musk himself cautioned that the economy is headed toward recession this year and guessed such a recession would last “probably until spring of ’24”. Analysts also warn of a slowdown, and those unfavorable conditions could hamper the Cybertruck’s launch, be it in the middle or even late 2023.
As it’s done in the past, Tesla will likely ramp production up from a slower start. However, how quickly it increases output depends on how market conditions actually are when the Cybertruck finally launches. As ever, we will have to wait and see how that plays out.
