Tesla Cybertruck could be a cult car with a low volume. Details here
- Financial corporation Morgan Stanley says that despite more than 1.5 million pre-orders, Tesla Cybertruck could sell only 50,000 units annually.
Tesla Cybertruck is one of the most awaited electric vehicles from the US electric car manufacturer. The electric pickup truck could be a cult car, but with significantly low sales volume, forecasts financial corporation Morgan Stanley. Investing.com has quoted the financial corporation stating that Tesla Cybertruck could sell only 50,000 units per year despite a whopping 1.5 million pre-bookings it reportedly received.
The report stated that while many believe the US electric vehicle brand may sell hundreds of thousands of Cybertrucks yearly, the electric pickup would likely be an enthusiasts' car or cult model with far more limited sales volume. This forecast comes despite the fact that the automaker claimed that it had received nearly 1.6 million pre-bookings for the zero-emission pickup truck since its reveal in 2019 and a sky-high hype online.
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Several leaks and photos of the under-development prototypes of the Tesla Cybertruck have been posted online. However, the carmaker remains tight-lipped about all these developments. The automaker has only revealed that the Tesla Cybertruck will enter production in 2023 only after being delayed multiple times.
The report also cites one of the reasons behind the lacklustre sales forecast for the Cybertruck as the lack of a Tesla emblem anywhere on its exterior. The pickup truck itself has become emblematic of the brand. The report further states that the Tesla Cybertruck carries more value in a cultural sense rather than an immediate economic sense.
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What it seems that Morgan Stanley is trying to say is that even though a lot of consumers seem to have admired the unconventional design of the Tesla Cybertruck, the pickup truck might lose a chunk of its appeal once it hits the roads and becomes a part of daily life. The report also said that the Tesla Cybertruck could financially be a side-show to the automaker's growth story.
The most awaited electric pickup truck is slated to enter production in limited units in 2023, while the production volume will increase in 2024, as Tesla CEO Elon Musk hinted. Tesla has already increased its hiring activity ahead of the Cybertruck production, with many of these roles dedicated to the pickup truck project.