If you didn’t know, Tesla has finally built its first production model of the Cybertruck at its factory in Texas. Though that is certainly exciting for those waiting since 2019 to get their hands on this stainless steel electric truck, it’s not without caveats. For starters, the price may not be the affordable $40,000 it was intended to be back when it first debuted. What’s more? Prospective buyers will likely have to wait up to five years before receiving their unit due to the massive number of people with pre-orders.
How Many People Reserved The Tesla Cybertruck?
A crowd-sourced data tracker revealed that there are now over 1.9 million orders for the boxy pickup truck. This data reflects Tesla CEO Elon Musk‘s statement regarding the extremely high demand for the Cybertruck, saying it’s “off the hook.” Since the pre-order deposit is only $100, it’s safe to assume that not every reservation will result in an actual order.
Though, the reservation itself adds up to a whopping $194 million in total revenue, with the dual-motor variant projected to bring in the most cash flow to the company at 43.8 percent. The tri- and quad-motor variants follow behind, as for the single-motor version of the Tesla Cybertruck, that only accounts for 8.2 percent of the reservation revenue.
The Tesla Cybertruck is undoubtedly late for the party, with the GMC Hummer EV pickup, Rivian R1T, and Ford F-150 Lightning already on the market. But that doesn’t appear to be stopping fans of the truck from wanting it, even with all the delays. However, the Tesla Cybertruck has some serious competition with its competitors already in the race, including the Chevrolet Silverado EV, GMC Sierra EV, and the soon-to-be-released Ram 1500 REV. Though it’s clear there’s a demand for the Cybertruck, it’s difficult to grasp how successful it will be once customers start receiving their orders. Also, once customers find out they could wait for over five years; they may turn their attention elsewhere. Elon Musk claimed the company could sell between 250,000 and 500,000 units per year, depending on the demand and supply chains. Either way, the time for the Cybertruck is nigh. But if you want to get your $100 back from your reservation, that is possible.