Tesla Inc. TSLA has unveiled a new affordable trim level of the Cybertruck, but investor Gary Black of the Future Fund LLC thinks the move wouldn't translate to a major sales boost for the automaker.
Tesla Reveals New Cybertruck Trim, Sunsets Luxe Package
Tesla's official website on Thursday showed an all-new Dual Motor All-Wheel Drive trim retailing for $59,990. It features a 325-mile range but offers a reduced towing capacity of 7,500 lbs, unlike the Premium All-Wheel Drive trim, which boasts a towing capacity of 11,000 lbs. It also offers reduced ground clearance and lacks a rear touchscreen.
The automaker has also reduced the price of the range-topping Cyberbeast trim from $114,990 to $99,990. The company did this by sunsetting the Luxe package on the Cybertruck, which offered Full Self-Driving, free access to Tesla's Supercharger network and more.
Gary Black Weighs In
In a post on the social media platform X on Thursday, the investor opined that despite the reduced price, Tesla was "unlikely to sell more than 25K Cybertrucks in 2026," adding that the trim was better priced than previous trims and will "surely sell."
However, Black noted that most of the Cybertruck sales would be from the mid-spec trim priced at $79,990. "Absent advertising, it's hard to see what will change Cybertruck sales momentum," the investor said.
The investor had earlier criticized Tesla's discount-led marketing strategy, sharing that a feature-led strategy would offer more benefits for a premium brand like the automaker instead.
Slate Auto Confirms Mid-$20K Price, Ford's $30,000 EV Pickup
The EV Pickup Truck sector has been in the news lately, with Jeff Bezos-backed Slate Auto, which boasts a unique approach to vehicles by letting customers pick and choose what they want in their vehicle, confirming that it will be revealing the price of its awaited $20,000-range EV Pickup Truck in June amid final negotiations with suppliers.
Meanwhile, Ford Motor Co. F also shared additional details about the Universal EV Platform, which will form the basis of its $30,000 midsize EV Pickup Truck scheduled for a 2027 launch. Ford's crosstown rival, General Motors Co. GM, also reaffirmed its commitment to EV Pickups.
Benzinga Edge Rankings show that Tesla scores well on the Momentum metric and offers a favorable price trend in the Long Term.
Price Action: TSLA surged 0.09% to $411.71 at Market close on Thursday, and further surged 0.01% to $411.75 during overnight trading.
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This article Tesla Unveils New Affordable Cybertruck Trim, But Gary Black Says TSLA 'Unlikely' To Sell More Than 25K Units: 'Hard To See What Will Change…' originally appeared on Benzinga.com.
