Andy Nurman
September 6, 2023
In 2019, Tesla sent shockwaves through the automotive industry when it unveiled the highly anticipated Cybertruck. Alongside its unique and futuristic design, Tesla made headlines by announcing some compelling price points for its various models. Fast forward to today, as we stand on the cusp of the Cybertruck’s imminent delivery, it’s time to revisit those original pricing figures and discuss what the final numbers might look like.
Original 2019 Cybertruck Pricing
Back in 2019, Tesla’s initial pricing for the Cybertruck was as follows:
- Single Motor RWD with 250+ miles of range: $39,900.
- Dual Motor AWD with 300+ miles of range: $49,900.
- Tri Motor AWD with 500+ miles of range: $69,900.
These prices garnered significant attention from both enthusiasts and skeptics. However, as the years have passed, the automotive landscape, along with the costs associated with electric vehicle (EV) production, has evolved.
Revised Pricing Projections
As we inch closer to the Cybertruck’s delivery date, it’s important to consider updated pricing expectations. While these figures are not officially confirmed by Tesla, industry insiders and analysts have speculated on what the final pricing might look like:
- Single Motor: The base model, Single Motor RWD, is projected to see an increase to approximately $49,900. This price adjustment reflects the changing landscape of the EV market and the increased demand for electric vehicles with long-range capabilities.
- Dual Motor: The Dual Motor AWD variant, with its enhanced range and performance, is expected to come in at around $59,900. This price point positions it competitively within the growing segment of electric trucks.
- Tri Motor: The Tri Motor AWD, known for its impressive 500+ miles of range, may see a revised price of approximately $79,900. While this places it at a higher tier, it still offers remarkable value compared to traditional gas-powered trucks with similar capabilities.
Federal EV Tax Credit Eligibility
One notable benefit of these adjusted price points is that all three Cybertruck models are likely to qualify for the $7,500 federal EV tax credit. The federal government offers incentives to encourage the adoption of electric vehicles, and the Cybertruck’s revised pricing should make it still eligible for these credits, helping to lower the overall cost for buyers.
Instant Rebate in 2024
Additionally, it’s important to keep in mind that starting in January 2024, an instant rebate program for electric vehicles is set to be in effect. This program will further reduce the upfront cost of the Cybertruck and other eligible EVs, making them even more appealing to consumers.
Our Thoughts
While the new Cybertruck pricing is higher than the original pricing announced in 2019, it is still competitive with other electric pickup trucks on the market. Additionally, the Cybertruck’s unique design, long range, and high performance make it a compelling option for buyers.
With federal EV tax credits and the upcoming instant rebate program, the Cybertruck is even more affordable for consumers. As a result, we expect the Cybertruck to sell very well, especially when compared to its competitors, which are priced well into the $100,000 range.
