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You’re here (NASDAQ: TSLA) announced on Twitter on Saturday that the first Cybertruck was built out of the company’s Gigafactory in Austin, Texas.
Tesla’s new model (TSLA) is the automaker’s fifth and first since Model Y production began in January 2020. The Cybertruck has available all-wheel drive and is promised to tow up to 14,000 pounds. Range has been estimated at over 500 miles. You’re here (TSLA) has claimed in the past that the Cybertruck will have a zero to 60 mph speed of 6.5 seconds and top out at 110 miles per hour. Cybertruck is said to accept one megawatt DC charging, which means it will charge very quickly with hundreds of miles of range delivered in minutes. Pricing for the tri-motor version is expected to exceed $70,000. Tesla Cybertruck buyers may be eligible to receive a federal tax credit of up to $7,500.
Earlier this year, Elon Musk estimated that Tesla could sell between 250,000 and 500,000 Cybertrucks a year at full production. “We will make as many as people want and can afford,” he said. However, Wall Street analysts are modeling less than 100,000 Cybertruck deliveries for 2023 and 2024. The Cybertruck’s competing electric trucks include the Ford F-150 Lightning (F), Chevrolet Silverado EV (GM), Rivian R1T (RIVN ) and the GMC. Sierra EV (GM).
Tesla Revenue Snapshot: Tesla (TSLA) will report its results for the second quarter on July 19. Analysts expect revenue to rise 47% year-over-year to $24.7 billion and EPS to hit $0.81. Investors’ main concern may be the impact of Tesla’s price cuts in the quarter. Gross margin is expected to fall to 18.7% from 19.3% in the first quarter and EBITDA is expected to fall to $4.14 billion from $4.27 billion in the prior year quarter. Other topics of interest will be the energy storage update and the outlook for gigafactories in Austin, Shanghai and Berlin. Tesla’s current forecast is for deliveries of 1.8 million vehicles in 2023 compared to 1.37 million vehicles delivered in 2022. On the earnings conference call, Elon Musk could shake things up by updating the sub-$30,000 Model 2, which is expected to be built outside Mexico sometime in 2025. Tesla (TSLA) may also set a date for its Cybertruck event, adding context to the rise of automakers across the board. of the industry adopting the NACS charging standard and adding color to the planned Model 3 refresh. Options trading on Tesla (TSLA) implies an 8% change in the share price following the report. Tesla (TSLA) lost 9.8% after its last earnings report. Over the past 90 days, the electric vehicle stocks with the highest trade correlation to Tesla (TSLA) have been Rivian Automotive (RIVN) and Lucid Group (LCID).
