“New” Quad Motor R1T pricing is crazy and not sustainable (even if Cybertruck priced higher than original reveal price estimate)

[Donald Stanfield]

As noted earlier, the truck market is not some monolithic demographic/use case category. The design choices for the CT make it a unappealing as a work truck. For example how do you easily mount and access a tool chest from the side? Similarly, the short bed makes the R1T unappealing to a lot of trades. I suspect the EV work truck market will be dominated, as the ICE work truck today is, by Ford and GM (Ram, Toyota offerings playing there, to a lesser extent, at some point). I just don't see either Rivian or Tesla making a big dent in or focusing on the work truck market (at least not with the current offerings).

I started off my career in the skilled trades and worked my way through them. I agree that neither the CT Or the Rivian, besides the EDV, will be adopted by fleet service. Fleets and trades care about only a select few things like space for equipment and efficiency/operating costs.

Honestly the best one for trade work I can see is Canoo's van or an upfit of the EDV. Something with a ton of space and EV's lower operating costs. Even F150's aren't ideal for tradespeople. I worked out of one for years and even with a service body it really only worked in conjunction with an enclosed trailer.

A van is the industry gold standard for a reason and the EDV is a bread truck style which is also a good choice for service. The better you can organize your tools and the more parts you can carry means fewer runs to the supply house which means more calls per day which means profitability.

So comparing which truck is best is kind of a fruitless endeavor considering none of them are really solutions. My last trade job in which I transitioned to white collar was a large mechanical contractor and all the foremen whether new con or service got vans with all site utilities getting F250 diesels because they had to pull excavators occasionally and site work is more limited in scope so tools need to be less varied.

No electric truck fits either of those use cases yet but an EDV does and so does the Canoo.

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[mini2nut]

I thought I would write a few comments regarding the R1T’s future competitor in the BEV pickup segment.

I have seen the concept Cybertruck in the flesh. I walked around it for a full 30 minutes while it was on display at the Peterson Museum.

It’s hard to describe the trucks styling in words. The Cybertruck looks odd in 2D photos and videos put looks fantastic in person. The proportions are spot on and it has a futuristic vibe to it. The truck look completely different than any other vehicle currently on the road. Tesla will most likely not install badges or emblems on the vehicle since everyone will know exactly what it is.

I was hesitant to put down a 2nd day Cybertruck reservation but I am so glad I did. I may sell my R1T for the Cybertruck but it will depend on specs and new pricing. I am currently happy with my R1T but I am keeping an open mind regarding switching up vehicles.

Peterson Museum concept

Peterson Museum concept

2019 concept/2023 release candidate Cybertruck. Note the stubbier front end to make the CT garage friendly

 

[Hillbilly]

In what way is it almost useless? It doesn't scratch, dent or rust, has a huge payload & is very economical to operate. The box is just as long or longer than most 1/2T out there & has secure storage. What is impractical about it?
It appears more practical than the R1T as a work truck. Waiting to see range on both Max & CT

Have ever actually had a full size truck before and used it for it's intended purpose? It's pretty obvious to most truck guys why the cybertruck design sucks. Bed and roof access are awful. What's the plan for a shell? Rack options?

 

[Ecupip]

It’s hard to describe the trucks styling in words.

I’d describe it as a 80’s sci-fi movie creation from films like aliens, robocall, or total recall. Nothing Id want to drive or relive daily lol.

 

[Count Orlok]

According to claims/media:
Large enough to get a quad in or plywood with gate down.
They claimed 3500lbs
Since a skid steer can load into dump truck I am sure a truck is no problem
Well based on the video's it appears much more dent resistant than the other truck

thanks. I looked at Tesla's website and didn't see the 3,500 lbs claim. Perhaps I missed it?

it'll be neat to have the unbreakable glass along with the debt-proof bed.

 

[Epicloop]

Have ever actually had a full size truck before and used it for it's intended purpose? It's pretty obvious to most truck guys why the cybertruck design sucks. Bed and roof access are awful. What's the plan for a shell? Rack options?

Yes, a Tundra last 7 years and used it as a truck as a contractor, land owner.
Everyone's use cases are different.
Most I see have tonneau covers now & CT has plenty of secure storage, we'll see about racks.

 

[Supratachophobia]

I thought I would write a few comments regarding the future R1T’s competition.

I have seen the concept Cybertruck in the flesh. I walked around it for a full 30 minutes while it was on display at the Peterson Museum.

It’s hard to describe the trucks styling in words. The Cybertruck looks odd in 2D photos and videos put looks fantastic in person. The proportions are spot on and it has a futuristic vibe to it. The truck look completely different than any other vehicle currently on the road. Tesla will most likely not install badges or emblems on the vehicle since everyone will know exactly what it is.

I was hesitant to put down a 2nd day Cybertruck reservation but I am so glad I did. I may sell my R1T for the Cybertruck but it will depend on specs and new pricing. I am currently happy with my R1T but I am keeping an open mind regarding switching up vehicles.

Peterson Museum concept

Peterson Museum concept

2019 concept/2023 release candidate Cybertruck. Note the stubbier front end to make the CT garage friendly

Couldn't disagree more. I was there at the unveiling. I was at the front of the crowd when it rolled up and got to walk around the functional prototype before they wheeled up the mock-up. It's even more hideous in person. Jarring is the word I would describe. Your brain naturally wants to see how it will move through the air and it can't make sense how that would happen smoothly. Even with the new bumper, which I harped on for years that it would change due to pedestrian safety laws, doesn't help. Every single artist rendition prior to the unveiling would have been a better direction in styling.

 

[Zoidz]

That demographic doesn't have buying power. The majority of EV owners are in their 50s with an average income of $130,000 per year. They may want it, but they won't be able to afford it.

Disagree. I have 30 year old engineers working for me making $120k a year, and they are buying $70k F150s and Silverados. I have two daughters in that demographic making the same in the medical field and in cybersecurity/intelligence. Whether it is a wise financial move at that age is debatable, but this demographic will absolutely buy a $70k CT.

 

[mini2nut]

Couldn't disagree more. I was there at the unveiling. I was at the front of the crowd when it rolled up and got to walk around the functional prototype before they wheeled up the mock-up. It's even more hideous in person. Jarring is the word I would describe. Your brain naturally wants to see how it will move through the air and it can't make sense how that would happen smoothly. Even with the new bumper, which I harped on for years that it would change due to pedestrian safety laws, doesn't help. Every single artist rendition prior to the unveiling would have been a better direction in styling.

The styling is definitely polarizing.

I’m more fascinated by what’s under the skin. The BIW has a front and rear aluminum Giga casting attached. The rear Giga casting then has 6 more aluminum castings attached to it.

Note the open floor for the 4680 structural battery pack

BIW with front and rear Giga castings attached

Note thickness of stainless steel drivers side door skin

Here you can see the 6 individual castings attached the the rear Giga casting

 

[Florida Panhandler]

I can’t get over the feeling ithat for the first year the top tier Cybertruck will be $110k With either 3 or 4 motors. …amd it will be the only trim level produced during this initial time.

 

[yizzung]

I’d describe it as a 80’s sci-fi movie creation from films like aliens, robocall, or total recall. Nothing Id want to drive or relive daily lol.

Close. I think the movie you’re looking for is Spaceballs.

 

[technerd]

I own a $75k “pre-price hike” 2022 R1T and hold a second reservation “just in case” (not pre-price hike) and was invited to The Shop today.

The $90k plus pricing for a Quad Motor R1T is crazy. I never would have considered purchasing a R1T at the new price point. I simply don’t see this price point being sustainable in the long run.

If new Cybertruck pricing comes in at 20% higher than the 2019 reveal prices I think Rivian pickup sales are going to see a dramatic sales drop. It’s about to get interesting in BEV pickup space.

I agree, I'm not sure if I would have bought a Rivian at the current prices, however, all trucks are insane right now, it's seriously nuts. It's a combination of supply issues, inflation and greed. Inflation is the biggest part though. In 2017 I bought a Ram 1500 with an MSRP of $53k, in today's money that would be $65k (almost 25% inflation since 2017 is crazy) and getting the same trim/package level now is $68k. And getting what I'd consider the gas equivilent trucks (TRX or Raptor R) is $100-$110k fully loaded, plus potential dealer markups.

But then Ford did just announce price cuts on the Lightning, and not a small amount either. I do think the electric market will be saturated in the next few years, I'm just hoping that Rivian has the R2 line ready by then, and that it can actually compete with the competition pricing.

 

[rydb]

I assumed a max pack R1T quad would have been well over $100k when I made my day 1 deposit. Maybe $115k. That would have made sense compared to tesla model X pricing. When the original price announcement came out I was pleasantly surprised, but also assumed they would have to cheapen the vehicle some to hit that number, which they did (no electrochromic roof, no gooseneck tailgate, I’m sure plenty of other things we don’t even really know about).

When they originally jacked all our prices before relenting, I was still going to pay the price because I still think that’s a fair price for the product, and looking at the competition and the fact that R1’s are still selling at the new price suggests that’s true.

I wonder about the relative demand for the T vs S, since we know there’s a lot more S backlog than T, but there are still people waiting for T’s even as they do the factory drive it off the lot today sale event. In the end I think that was more about getting trucks from factory to customer as quickly as possible to push delivery numbers that quarter despite it being a little unfair to those still waiting. Those trucks also sold at the new price, though, too.

 

[Buckets0fun]

That demographic doesn't have buying power. The majority of EV owners are in their 50s with an average income of $130,000 per year. They may want it, but they won't be able to afford it.

I’d love to see the data for this.
3/Y is cheap. 130k a year is a typical income in many industries these days.

I feel you’re a bit delusional if you think that age group doesn’t have buying power. The liberal arts majors, sure… but their tech significant others will have no issue buying a few.

 

[Thud]

Anyone have the link to Elon telling investors that the CT price was going to be indicative of the radical new production they invented?(which to me was the first admission that shit was gonna be $$$$)

The radical exoskeleton structure has since turned into a more conventional unibody design:

https://insideevs.com/news/676664/tesla-cybertruck-body-in-white-leaked/

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