Photo: @JoeTegtmeyer via X
Tesla will end the Cybertruck Foundation Series as the production ramps up. During the 2024 shareholder meeting, Elon Musk announced that Tesla would start deliveries of the regular Cybertruck trims in the third quarter, which is less than two weeks away.
Tesla debuted the Cybertruck deliveries in November 2023 with the overpriced Foundation Series edition. The markup amounted to $20,000, although Tesla offered a few perks to make it worth it. Besides all the options in the configurator, the Foundation Series Cybertrucks came with lifetime Premium Connectivity, free FSD Capability, a voucher to install a bi-directional charging system, and an accessory set.
To be fair, the Foundation Series Cybertruck was well worth the money when it launched, considering that it was the most desired vehicle on Earth. Tesla anticipated that flippers would try to make big money by reselling the electric pickup and took measures to prevent that. Even so, people were willing to pay $250,000 for a Cybertruck. For many, the $20,000 extra for the Foundation Series was nothing.
However, as the Cybertruck mania cooled down and Tesla increased its production pace, used truck prices fell down to Earth, barely allowing flippers a razor-thin margin. Soon, Tesla refused to buy back the trucks from people who no longer wanted them. It was a clear sign that interest in the Cybertruck was waning, and Tesla was bound to do something.
The obvious step was dropping the Foundation Series markup so more people would order the Cybertruck. In the past month, many of those invited to configure a Foundation Series model declined, waiting for Tesla to start selling the regular trims. This paid off, as Elon Musk confirmed that the Foundation Series would end soon. Tesla intends to open the order books for regular Cybertruck trims in the next quarter, which means it could be as soon as July.
The most affordable Cybertruck will soon cost $79,990, although interested parties will have to wait until 2025 for delivery. However, those who recently ordered a Foundation Series Cybertruck and expected to take delivery in October at the earliest are suffering. They paid $20,000 more for the same truck they would not get for at least four months.
Elon Musk announced that Cybertruck production reached a record 1,300 Cybertrucks per week. Tesla aims for a production pace of 2,500 units per week by the end of 2024, roughly equivalent to 125,000 units per year. In 2025, as Tesla crosses the 150,000-unit annual production threshold, it should feel more confident about costs and diversification. This would open new possibilities for Tesla, including Cybertruck certification for other markets.
Tesla Cybertruck was designed for North America, and modifications are required to be sold in international markets. This is why Tesla wants to wait until the production is mature enough to cover the new modifications and certification costs. Musk estimated this should happen in 2025, although he didn't offer details.
To be fair, the Foundation Series Cybertruck was well worth the money when it launched, considering that it was the most desired vehicle on Earth. Tesla anticipated that flippers would try to make big money by reselling the electric pickup and took measures to prevent that. Even so, people were willing to pay $250,000 for a Cybertruck. For many, the $20,000 extra for the Foundation Series was nothing.
However, as the Cybertruck mania cooled down and Tesla increased its production pace, used truck prices fell down to Earth, barely allowing flippers a razor-thin margin. Soon, Tesla refused to buy back the trucks from people who no longer wanted them. It was a clear sign that interest in the Cybertruck was waning, and Tesla was bound to do something.
The obvious step was dropping the Foundation Series markup so more people would order the Cybertruck. In the past month, many of those invited to configure a Foundation Series model declined, waiting for Tesla to start selling the regular trims. This paid off, as Elon Musk confirmed that the Foundation Series would end soon. Tesla intends to open the order books for regular Cybertruck trims in the next quarter, which means it could be as soon as July.
The most affordable Cybertruck will soon cost $79,990, although interested parties will have to wait until 2025 for delivery. However, those who recently ordered a Foundation Series Cybertruck and expected to take delivery in October at the earliest are suffering. They paid $20,000 more for the same truck they would not get for at least four months.
Elon Musk announced that Cybertruck production reached a record 1,300 Cybertrucks per week. Tesla aims for a production pace of 2,500 units per week by the end of 2024, roughly equivalent to 125,000 units per year. In 2025, as Tesla crosses the 150,000-unit annual production threshold, it should feel more confident about costs and diversification. This would open new possibilities for Tesla, including Cybertruck certification for other markets.
Tesla Cybertruck was designed for North America, and modifications are required to be sold in international markets. This is why Tesla wants to wait until the production is mature enough to cover the new modifications and certification costs. Musk estimated this should happen in 2025, although he didn't offer details.
Made the impossible possible with @Cybertruck. Our goal is to ramp production to 2500 units/week by end of year pic.twitter.com/rIuyuekvpu
— Tesla (@Tesla) June 13, 2024
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