- The new variant is priced below last year’s $79,990 dual-motor all-wheel-drive model, which served as the entry-level version.
- The latest model features coil spring suspension instead of air suspension.
- Tesla also lowered the price of its most expensive variant, the Cyberbeast, to $99,990 from $114,990.
Tesla CEO Elon Musk responded to a post on X about the new Cybertruck variant, saying the price is effective “only for the next 10 days.”
TSLA shares were down 1% at the time of writing.
Most Affordable Cybertruck
This comes after the EV maker unveiled its ‘most affordable’ Cybertruck yet on Thursday, opening up U.S. orders for the electric pickup at $59,990.
While the new model comes at a lower price point compared to earlier trims, it remains significantly above the $40,000 starting price Musk originally announced at the vehicle’s 2019 launch. It is priced below last year’s $79,990 dual-motor all-wheel-drive (AWD) version, which was the entry-level option.
Features FSD Compatibility Like The Premium Trim
According to Tesla investor and influencer Sawyer Merritt, the $59,990 dual-motor AWD Cybertruck trim, priced $20,000 below the $79,990 Premium AWD version, offers reduced towing and payload capacity, coil spring suspension instead of air suspension, smaller wheels, textile seats, and a simplified sound system. It also removes features like ventilated seats, a rear display, premium lighting, and cargo rails.
However, it retains the same driving range, 0-60 mph time, rear-wheel steering, charging speed, bed outlets, Powershare capability, and Full Self-Driving compatibility as the Premium trim.
Tesla also lowered the price of its most expensive variant, the Cyberbeast, to $99,990 from $114,990.
How Did Stocktwits Users React?
While retail sentiment over the past 24 hours on Stocktwits remained in the ‘bullish’ territory, chatter was largely bearish.
One user said that if a company continues to lower prices, it is not a bullish sign.
Another user said margins could come under pressure due to the price cut.
Year-to-date, the stock has fallen more than 10%.
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