Elon Musk-led Tesla Inc. has hiked the price of the affordable all-wheel drive trim level of the Cybertruck by $10,000 days after revealing the variant.
Cybertruck AWD Trim Now Retailing For $69,990
On Tesla’s official website on Sunday, the automaker officially hiked the price of the “Dual Motor All-Wheel Drive” trim to $69,990. The EV giant had earlier launched the trim level at a price of $59,990 amid a decline in sales.
The Cybertruck trim levels also include the Premium All-Wheel Drive, priced at $79,990 and the Cyberbeast trim, priced at $99,990. The hike comes as Tesla had earlier shared that the $59,990 price would be applicable for a limited time only and the trim level would see hiked prices post February 28.
Don’t Miss:
-
The ‘ChatGPT of Marketing’ Just Opened a $0.85/Share Round — 10,000+ Investors Are Already In
Source: Tesla
Cybertruck Demand, Gary Black Weighs In
The news comes as Tesla has seen strong demand for the trim level, with takers for the base dual motor variant emerging, according to data compiled by influencer Sawyer Merritt.
However, investor Gary Black, who is the managing director of The Future Fund LLC, thinks that the trim level wouldn’t translate into better sales for the automaker and would instead lead to cannibalization of the mid-spec Cybertruck.
Trending: Own the Characters, Not Just the Content: Inside a Fast-Growing Pre-IPO IP Company
EV Pickup Truck Push
Meanwhile, EV pickup trucks are gaining ground in the U.S., with the Jeff Bezos-backed company Slate Auto announcing that it will be revealing the price of its highly awaited $20,000-range EV Pickup Truck in June amid final negotiations with suppliers.
Ford Motor Co. also reaffirmed its commitment to EVs, sharing that its Universal EV Platform will underpin the company’s mid-size EV pickup truck scheduled for a 2027 rollout.
Read Next:
-
This Under-$1 Pre-IPO AI Company Is Still Open to Retail Investors — Learn More
-
It’s no wonder Jeff Bezos holds over $250 million in art — this alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. Here’s how everyday investors are getting started.
Up Next: Transform your trading with Benzinga Edge’s one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today’s competitive market.
Get the latest stock analysis from Benzinga:
This article Elon Musk’s Tesla Hikes $59,990 Cybertruck AWD Price As 10-Day Deadline Ends: Here’s The New Price originally appeared on Benzinga.com
