Tesla CEO Elon Musk treated us to another reservation update on twitter, letting us know that the Cybertruck has now broken 250,000 pre-orders.
The update comes less than a week after the truck’s reveal.
Not only is the new number huge for less than a week of sales, but the rate at which reservations are coming in seems to be holding strong.
Tesla got 41,000 reservations in ~23 hours between Saturday and Sunday. This new number represents an increase of 50,000 in 49 hours since Musk’s last update on the matter.
That 50,000 reservations could be worth a minimum of $2 billion in potential revenue – if everyone follows through and orders the truck, even at base model prices. Which they won’t, there will be dropouts and some will order higher option levels.
This represents a drop in reservation rate, as should be expected, but the point is that there are still a lot of people getting in line for this unreleased truck even after several days. In general, especially with such a low, $100 bar of entry, one would expect takers to be quite frontloaded.
Perhaps this “staying power” has been a result of the truck’s…”controversial” (aka weird) design. It’s likely that customers felt unsure about the truck upon first seeing it, but then the design has grown on them as they’ve learned more about the truck’s features and the reasons behind that design.
Lots of these features and reasons weren’t mentioned in the presentation on Thursday. Tesla didn’t do a great job of communicating why the car looks like it does. It would have been good to hear about the difficulty of stamping hardened steel, about how aerodynamics can work despite hard angles, about camper configurations, different colors, a possible solar roof, and any number of other things the truck will be capable of.
But then again the truck is still far from release and Tesla needs some news to drip out to us over the course of the next couple years. Especially with no new product revealss on the immediate horizon.
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