Tesla Discontinues Orders for Cheapest Cybertruck, Pushes $100,000 Version

Tesla has halted orders for its least expensive Cybertruck, previously priced at $61,000, and is now focusing on selling the $100,000 version. This shift comes as the company ramps up production and aims to meet its goal of manufacturing 200,000 units annually.

Despite CEO Elon Musk’s earlier claim of 1 million reservations, the decision to drop the lower-priced model indicates that actual demand might be lower than anticipated. Tesla’s website now offers only the $99,990 dual-motor Foundation limited series, with a 318-mile range, and the $119,990 tri-motor Foundation Cyberbeast, with a 301-mile range. These models are available for delivery starting this month and in October, respectively.

The move highlights Tesla’s strategy to capitalize on higher-priced models, which have already seen significant sales, with nearly 4,800 units sold in July alone. However, sustaining high sales volume at this price point may prove challenging, according to industry analysts.

The Cybertruck, with its unique trapezoidal design and stainless-steel body, began deliveries in November 2023 after several delays. Originally promised at a $40,000 price point with a 500-mile range, the current models fall short of these early expectations.