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Tesla will eventually be able to release Cybertruck for around $39,000, though the Tri- and Four-Motor versions will cost around $75,000, MotorTrend expects.

According to MotorTrend, electric vehicles are at the top of buyers' lists. The motor magazine, TV network, and car-shopping site found that in the past year, 78% of active car shoppers are “very interested” in EVs, and that over the next five years, nearly 50% of car shoppers say they will definitely or probably buy an electric or hybrid vehicle, according to Yahoo Finance.

“All of us, even the people who are watching right now are saying to themselves, 'I know I'm going to get an EV, is it the right time?,’” said Alex Wellen, president and CEO of the MotorTrend group in an interview with Yahoo Finance. “‘I don’t know about the range anxiety, I don’t know about how I’m going to charge it, is it affordable?,’ but everyone knows that they’re going to be inside of an EV soon.”

Although electric vehicles continue to gain popularity, their price is still a limiting factor for many consumers. Looking at the data, the most popular EV models in MotorTrend's buyer's guide start with Tesla Model 3, followed by the Ford Mustang Mach-E, Chevy Bolt EV, Tesla Model Y, and Lucid Air.

In addition, production of the long-awaited Cybertruck begins this year. Although pre-order data shows that more than 1 million consumers are waiting for the truck to be delivered, MotorTrend has mixed feelings about the new product.

“From a design point of view it's very polarizing, and I think a lot of people just won't simply want it,” Wellen said. But he acknowledges that Cybertruck is popular with MotorTrend users and Elon Musk has really done a good job surprising past doubters.

Wellen believes pricing will be a key factor for many consumers. Here Cybertruck will have to compete with Ford F-150 Lightning, Rivian R1T, Chevrolet Silverado EV, and Ram 1500 REV EV. He believes that in the long run, Tesla will be able to deliver Cybertruck for $39,000, however its Tri- and Four-Motor versions will sell for around $75,000.

“Musk said in 2019, three and a half years ago that [the Cybertruck] would be $39,000 - I think eventually, like they did with the Model 3, they'll have a $39,000 truck,” Wellen said, but not right away. “But if they want to do three or four motors, I would say they would be lucky at $75,000.”

This will be a great price that will attract many new customers from the truck segment and will create excellent competition for existing and future players.

© 2023, Eva Fox | Tesmanian. All rights reserved.

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