Tesla Inc‘S TSLA Cybertruck according to investors, can exceed demand expectations in the long term Sawyer Merritt.
What happened: Merritt, a self-proclaimed Tesla fan and co-founder of sustainable lifestyle apparel startup TwinBirch, highlighted the challenge of estimating demand for the Cybertruck due to its distinctive and unique design.
Draw parallels to Model YMerritt pointed out that due to the luxury SUV’s success, initial expectations were based on the luxury SUV segment, but many Honda CR-V And Toyota RAV4 The owners eventually settled on the Model Y, making it one of the best-selling SUVs in the world.
Merritt believes the cybertruck has the potential to exceed expectations over the long term, citing its appeal to non-traditional truck buyers and the fact that current truck buyers are often more concerned with lifestyle than utility.
Merritt describes the Cybertruck as the “coolest/coolest truck yet” and predicts it could sell well, especially given the sizeable truck market in Southern California.
Why it matters: At Tesla’s annual meeting last week Elon Musk confirmed that the Cybertruck Delivery Event would take place later this year. The CEO said he expects to sell 250,000 to 500,000 cybertrucks each year once production is fully ramped up.
“I would say a quarter of a million a year is a reasonable estimate, but it could be 500,000, I don’t know. We will make as many as people want and can afford,” Musk said.
Last year, Ford Motor Co‘S f The F-Series was the best-selling pickup truck in the US. Ford sold over 653,000 F-Series trucks, including 15,617 F-150 Lightning electric pickups.
In a February tweet, Musk said that meeting demand for the Cybertruck was not a problem, but would “ramp up production.” will likely be a challenge.
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Continue reading: Elon Musk says this upcoming Tesla vehicle will be his daily drive
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