Tesla To Hike Price On Cheapest Cybertruck Variant After Feb. 28

• Tesla did not provide a new price point in its website announcement. 
• The lower-price variant was unveiled last week in addition to the premium all-wheel drive and Cyberbeast variants. 
• The Cybertruck has underperformed Musk’s goal of up to 500,000 deliveries in a year.

EV giant Tesla Inc. said on Tuesday that the price on the base version of its Cybertruck would increase after Feb. 28.

The company announced the upcoming price hike on its website. The base version of the Cybertruck, called the Dual Motor AWD variant, starts at $59,990 now. Tesla (TSLA) did not provide a new price point.

The lower-price variant was unveiled last week, in addition to the premium all-wheel drive and Cyberbeast variants priced at $79,990 and $99,990, respectively. Tesla CEO Elon Musk also warned in a post on X that the price is effective only for a brief time.

Weak Demand Haunts

Tesla started delivering the Cybertruck in Nov. 2023 after a long wait. However, the truck was pricier than proposed during its unveiling in 2019, dragging down demand and preventing reservation holders from actually placing the order.

Musk had said in 2019 that the entry-level variant of the truck would start at about $40,000, while the most premium version would start at around $70,000.

The Cybertruck’s stainless steel exterior and angular design also pulled split opinions, with some deeming it ugly, while others appreciated the change.

Musk has previously predicted that Tesla could sell up to 500,000 Cybertrucks annually. However, in 2025, the company sold only 50,850 units of all its premium models combined, which includes the Model S, X and the Cybertruck, putting Cybertruck annual sales alone at below 20,000 units on an estimate.

While Tesla has announced that it would soon halt the production of the Model X and S vehicle in the next quarter, executives clarified during the company’s fourth quarter earnings call last month that the company has no such intentions with the Cybertruck. Musk instead opined that the Cybertruck would serve as a good robotaxi, allowing for autonomous intra-city cargo delivery.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around TSLA stock stayed within the ‘bullish’ territory while message volume stayed at ‘low’ levels.

TSLA stock has gained 24% over the past 12 months.

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