The long-awaited launch of the Cybertruck failed to boost Tesla stock after pricing for the electric vehicle came in much higher than initially promised.
Tesla's Cybertruck (TSLA) is set to launch Thursday afternoon at its Gigafactory in Austin, Texas. While some investors are hyped for the release, there are those who feel that this isn't the big moment the company and investors were hoping for. Andrew Hawkins, The Verge Transportation Editor and Tom Narayan, Lead Equity Analyst, Global Autos for RBC Capital Markets, join Yahoo Finance to discuss their thoughts on the launch and what it means for the company and investors alike. Narayan describes the vehicle as a "halo car," designed to lure shoppers that Tesla can sell its other vehicles to. Hawkins explains his feelings: "When it [the Cybertuck] was first announced in 2019, there were no electric trucks on the market at that time. So if Tesla had actually released the truck and started delivering it to customers soon after that event, they really could've captured this market but now we've seen there's the F150 Lightning (F), Rivian R1T (RIVN), there's a Hummer truck (GM), and there's more coming out... So I think there is an argument to be made that Tesla kind of missed the moment here." Click here to watch the full interview on the Yahoo Finance YouTube page or you can watch this full episode of Yahoo Finance Live here.
Tesla's (TSLA) long-awaited — and angularly designed — Cybertruck officially launches Thursday afternoon at the company's gigafactory in Austin, Texas. The Cybertruck event comes four years after CEO Elon Musk first announced the vehicle. Despite the hype surrounding the Cybertruck, Autolist’s 2023 Electric Trucks Survey found most generations favor rival electric pickups. Overall, Toyota’s Tacoma was ranked as this year's most popular all-electric pickup truck, followed by Ford's F150 Lightning. Gen Z was the only generation to list Tesla's Cybertruck as its preferred electric truck. Autolist Editor-in-Chief David Undercoffler joins Yahoo Finance to discuss the Cybertruck debut amid waning enthusiasm and demand for EVs. "Charging is becoming a more critical pain point for consumers," Undercoffler noted. Click here to watch the full interview on the Yahoo Finance YouTube page or you can watch this full episode of Yahoo Finance Live here.