Wait for Cybertruck delivery event continues.
The highly anticipated Cybertruck delivery event is scheduled to take place in September. CEO Elon Musk has previously mentioned that the “Cybertruck handover” is expected to occur around the end of Q3 this year. As we approach the end of the quarter, millions of customers with reservations are eagerly awaiting the event. Recent reports suggest that the number of reservations has reached an impressive two million, demonstrating the immense demand for the Cybertruck after years of delays.
Enthusiasm for the Cybertruck release is being fueled by Tesla enthusiasts on platforms like Twitter and TikTok, who regularly share sightings of Cybertruck Release Candidates across the United States. These constant updates only add to the excitement surrounding the commercial production of the Cybertruck.
Elon Musk has acknowledged the challenges in predicting the production ramp for the Cybertruck due to the complexity of its supply chain, which involves numerous unique parts and processes. However, Musk has confirmed that deliveries will begin this year, with “high volume” production expected to commence next year.
AUSTIN, TEXAS – MAY 31: A Tesla car dealership is seen on May 31, 2023 in Austin, Texas. Tesla’s … [+]
Conversion is key
As the start of production looms closer, the question arises: How many reservation holders will actually convert their reservations into purchases? Natalie Neff, Editor at Autoweek, believes that the conversion rate for vehicles like the Cybertruck is likely to be high. Interestingly, she notes that the longer customers wait for their orders, the more tolerant they become. For instance, she mentions a friend who waited two years for delivery of their Rivian R1S SUV and grew increasingly patient over time. Neff also highlights the passionate and devoted nature of Tesla fans, who are quick to defend the company even when faced with unexpected delays. With customers having waited for up to four years, it becomes increasingly difficult for them to give up on their reservations, which bodes well for Tesla’s financial success.
Even if it’s ugly, it doesn’t matter
Amongst the ongoing debates about the Cybertruck’s appearance, there is a growing consensus that aesthetics are not the most critical factor in this case. Thomas Libby, an analyst at S&P Global Mobility, suggests that if any brand on the current U.S. market were to offer a design similar to the Cybertruck, Tesla would be the most likely choice. Libby believes that Elon Musk revels in being an outsider, a risk-taker, and an unconventional innovator, and the Cybertruck’s unconventional design aligns perfectly with this characteristic. Natalie Neff from Autoweek adds that customers don’t need to be lectured about the Cybertruck’s appearance; its unique and polarizing design is a major part of its appeal.
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