How the Tesla Cybertruck competes against Ford, GM, and Rivian

How the Tesla Cybertruck competes against Ford, GM, and Rivian

The Cybertruck has finally arrived. Tesla delivered the first batch of its flagship pickup trucks to customers Thursday afternoon at a live-streamed event in Austin, Texas.

Now that it’s officially arrived, investors, Wall Street analysts, and potential truck buyers can compare specifications across all battery-powered trucks currently on the U.S. market.

For starters there is a cost. Pricing for the Cybertruck starts at over $60,000. That was a little “expensive” according to


Active Future Fund ETF

Tesla co-founder and shareholder Gary Black. He hoped the truck would start at $50,000, similar to the F-150 Lightning.

Not everyone was surprised by the price. Wedbush analyst Dan Ives wrote Thursday that prices were roughly in line with his expectations.

Expectations aside, the Cybertruck is an expensive pickup truck, with prices ranging from about $60,000 to $100,000. Rivian Automotive’s R1T is a high-end truck, but it costs about $90,000. The Ford F-150 Lightning runs the gamut of trucks costing around $50,000 and above $90,000. General Motors is delivering the all-electric Silverado, but those initial deliveries will go to fleet customers.

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The Cybertruck “Cyberbeast” model starts at around $100,000. That’s a lot and puts it in the “luxury performance truck” category of Battle Road Research’s Ben Rose. Furthermore, the lower-priced version of the Cybertruck won’t be available until 2025. Tesla has amassed more than 1 million pre-orders for the truck, according to CEO Elon Musk, and the company will start manufacturing the more expensive versions. An all-wheel drive version that starts at $80,000 will be available in 2024.

As for range, the Cybertruck looks good. The maximum range listed on Tesla’s website for any version is 350 miles. Rivian and GM have truck versions that get more than 400 miles per charge.

Range is important in a truck because towing juice ranges relatively quickly. This is one reason why electric trucks have 100 or 200 miles more range per charge than electric sedans or crossovers.

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The range can be difficult for automakers to manage. There are diminishing returns to making your battery pack bigger and bigger. It gets heavier and some of the added power goes into pulling the large battery pack. Batteries are also the most expensive part of an electric car. So more range can eat into profits.

As for other features, there’s a lot to like about the Cybertruck. It can power a home, like an F-150. And it’s fast. The Cyberbeast will go from zero to 60 mph in less than three seconds.

Tesla stock finished down 1.8% in Thursday trading. Shares fell another 2.4% in premarket trading on Friday


Standard & Poor’s 500

And


Nasdaq Composite

Futures fell 0.2% and 0.4%, respectively.

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The stock’s decline after a major Tesla event, such as the Cybertruck delivery event, is not surprising. The stock market looks to the future and investors tend to “buy the rumor and sell the news” as the saying goes.

Tesla stock rose during the week ahead of Thursday’s trading. Shares are at about $235 a share on Friday, which is about the same place they started the week. This makes sense. Investors, of course, knew the Cybertruck was coming, and for the most part they knew what the truck could do.

How the Cybertruck sells will ultimately move the stock. Wall Street expects only 1,500 or so cars to be delivered in 2023, followed by about 78,000 cars in 2024. For context, deliveries of all Tesla models are expected to reach about 1.8 million units in 2023 and 2.2 million in 2024 .

Write to Al Root at allen.root@dowjones.com

(Tags for translation)Motor Vehicles

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