Tesla Inc (NASDAQ:TSLA) delivered the first 10 Cybertrucks at a launch event at its Austin Gigafactory on Thursday, but the truck of the future didn’t help the electric vehicle maker’s share price.
Tesla shares traded 1.4% lower Friday morning after the truck’s price point came in more than 50% higher than expected.
Three versions of the truck (rear-wheel drive, all-wheel drive and “Cyberbeast”) are priced $60,990 and $99,990, Tesla said Thursday. That’s up from $39,900, which Tesla said it expected the truck to retail for back in 2019.
At the event, CEO Elon Musk unveiled the vehicle at the company's Austin Gigafactory with a series of testing videos, measuring the truck’s tow power, speed and even resistance to bullets.
Analysts at Wedbush estimate that the company will churn out 2,000 to 3,000 units this quarter, with a 10,000-units quarter in the first half of 2024 with pilot production capacity in Austin at 125,000 units.
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