Andy Nurman
November 28, 2023
Renowned analyst Dan Ives from Wedbush Securities has projected anticipated price ranges for Tesla’s upcoming Cybertruck.
Ives noted that industry “whisper numbers” for the single motor variant indicate a price hovering around $50,000. He further suggested that the dual and tri-motor variants could likely range between $60,000 to $80,000. These speculations arise amidst ongoing anticipation surrounding the pricing structure for these upcoming models.
Wedbush Securities, acclaimed for its automotive and technology industry insights, currently maintains an outperform rating on Tesla, expressing confidence in the company’s future performance. Moreover, the firm has set a price target of $310 for Tesla, reflecting its bullish outlook on the company’s trajectory.
These projections are in line with the initial pricing unveiled during the prototype showcase in November 2019, which introduced Tesla’s electric vehicles with varying ranges and price points:
- Single Motor: $39,900 with a range of 250 miles.
- Dual Motor: $49,900 with a range of 300 miles.
- Tri Motor: $69,900 with an impressive 500-mile range.
However, considering the evolving market and expected technological advancements, Ives’ projected prices indicate potential adjustments from these initial figures, aligning with current market expectations and potential enhancements in the vehicles.
Furthermore, Tesla’s current trading value stands at $235, approximately 32% away from Ives’ projected price target of $310. This significant potential increase underscores the optimism surrounding Tesla’s growth potential, as assessed by Wedbush Securities.
In related news, Tesla’s highly anticipated Cybertruck delivery event is scheduled for this Thursday at 2 PM CST at Gigafactory Texas in Austin. The event is expected to unveil further details about the long-awaited electric pickup truck, adding to the excitement surrounding Tesla’s product lineup.
Our Thoughts
Industry enthusiasts and investors eagerly anticipate additional details and official announcements from Tesla as it approaches the launch of these anticipated models.
Given the tri-motor Cybertruck’s impressive specifications and capabilities, I believe that a price of $80k might undervalue it. A price closer to $100k would better align with its premium positioning and unique features.
It’s amazing how far Tesla has come! The company’s growth has been nothing short of phenomenal, and the future looks even brighter. With innovative products like the Cybertruck and Semi on the horizon, Tesla is poised to continue disrupting the automotive industry and beyond.
