Tesla Pricing Changes
Over the last number of years, Tesla has become infamous for repeatedly adjusting its prices, often moving prices by thousands of dollars up or down in response to market demand. It’s also become famous for announcing startlingly low starting MSRPs for entry-level models, only to never offer those entry-level models to the buying public. The latest subject of Tesla’s price adjustments is the widely-hyped Cybertruck, which earlier in 2024 eclipsed the Ford F-150 Lightning as the best-selling EV pickup in the U.S. The starting MSRP for the Cybertruck has increased by over $30,000 as of the middle of August.
No Entry-Level Model
When it was originally announced in November 2019, Tesla promised a $39,990 starting MSRP for the striking, stainless steel-skinned Cybertruck. That was a shockingly low number for a vehicle that packed so much technology, including steer-by-wire, rear-wheel steering, and a powered bed cover – not to mention impressive off-road ability. By the time that the production-spec Cybertruck went on sale to the general public at the end of 2023, the starting MSRP had inflated by more than 50 percent to $60,990 for the rear-wheel drive version, with all-wheel drive editions costing almost $20,000 more.
Unsurprisingly, Tesla’s first Cybertruck deliveries were of the highly-specified all-wheel drive models with the expensive Foundation Series package, in dual-motor and triple-motor Cyberbeast trims, most with a selling price of over $100,000. We’re not aware of any rear-wheel drive models ever being delivered – and now Tesla has cancelled that model, while simultaneously raising starting MSRPs of the remaining models. The price increases not only make the Cybertruck more expensive to purchase, they also eliminate the possibility of accessing the $7,500 federal tax incentive, due to being over the incentive’s $80,000 price ceiling.
Tesla Cybertruck Pricing and Range
Now, the least expensive Tesla Cybertruck you can purchase is the dual-motor version with all-wheel drive, which has a starting MSRP of $99,990 – a $20,000 increase. Available with either street-biased tires or all-terrain tires, the all-wheel drive pickup as 600 hp from two motors and an EPA-estimated range of 340 miles. It can accelerate from 0-60 mph in 4.1 seconds, has a top speed of 112 mph, and can tow up to 11,000 pounds. A range extender, which fills most of the pickup bed, is available for a whopping $16,000, but extends the estimated range to 470 miles.
Stepping up to Cyberbeast trim gets you three motors instead of two for even more impressive capability on- and off-road, and a total of 840 hp. The 0-60 time drops to 2.6 seconds and top speed rises to 130 mph. The starting MSRP rises to $119,990, and you can still get the range extender as an option, to reach a total of 420 miles of EPA estimated range.
Both the all-wheel drive and Cyberbeast models can also get the Foundation Series package as an option. It includes a Powershare home backup power system that lets you power your home from your truck for up to three days; Tesla’s “full self driving” suite of driver assistance systems; roof-mounted LED light bar; all-weather floor liners; sunshade for the glass roof; gear locker dividers; and special-edition badging. The cost of the Foundation Series package remains $20,000.
Cybetruck Availability Improves
Interestingly, even as Tesla has significantly increased pricing of the remaining Cybertruck models, it seems to have increased production. Wait times, which stretched into several years prior, have now reduced to less than a month for an all-wheel drive model with the Foundation Series package, while the wait for a Cyberbeast is listed at about three months. The increased availability likely indicates that many initial deposit holders for Cybertruck – tempted, perhaps, by that promised low starting price – have cancelled their orders, freeing up availability.
Regardless of its pricing, the Cybertruck remains a polarizing vehicle. On paper, it has impressive capability and is packed with innovative technology such as steer-by-wire, rear-wheel steering, and more. The interior takes Tesla’s build quality up a level, and the styling is instantly iconic, standing out wherever you drive.
Tesla Cybertruck: The Verdict
But while the Cybertruck is an impressive EV, it is perhaps less practical as an actual pickup. The covered bed’s shape and powered tonneau cover limit its usability as a work truck, and while its towing capacity is impressive, its range drops precipitously when hitched to a trailer. Plus, the most recent price adjustment puts the Cybertruck well outside the bounds of what many would want to spend on a work vehicle.
Especially at the new price, the Cybertruck really is a statement of power and status for well-heeled buyers that want to stand out. As a distinctive design statement with room for the family and all its gear – plus supercar-beating performance – there is nothing quite like it on the market.
