Waitlist for Tesla's Cybertruck Reached One Million in Reservations

According to Drive Tesla Canada, a crowdsourced reservation tracker reveals that Tesla has a waitlist of over 1,000,000 Cybertruck orders. 

According to the report, during the weeks following its arrival, reservations for the Cybertruck were being put every two seconds. Tesla's waitlist of over a million Cybertruck reservations shows just how strong the market for the well-engineered vehicle is, even though it has slowed. By the way, I'm one of those people.

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Reservation Tracker

The reservation tracker also tracks Cybertruck reservations through trim choices. If any of the reservations were to turn into orders, Tesla would be in line for more than $63 billion in sales over the next five years.

It should be remembered that these figures are subject to modification, and Drive is not responsible for any changes. Tesla Canada claimed that they are most likely overinflated as a result of numerous reservations.

When manufacturing and deliveries begin, many of them will be canceled. In Florida, one guy has 300 Cybertrucks in his account. Unless he runs a company that operates a fleet of cars (which he very well could), it's reasonable to assume that he'll revoke any of those orders.

Possible Cancellations

Even if there is a predicted 50% cancellation rate and stated that even if many people canceled their orders, Tesla would still have 500,000 Cybertruck orders, generating over $30 billion in sales.

The electric vehicle manufacturer has a track record of revealing potential vehicles to crowds of eager buyers, accepting deposits, and only shipping years later. Tesla unveiled a Semi truck and a next-generation Roadster sports car two years ago, but no vehicle is yet in series. 

Related Article: Ford F-150 Lightning Becomes The New In Demand Electric Vehicle to Hit the Market 

Demands

Tesla's reservation list, which is inherently used as a surrogate for demand, has long been a source of fascination for buyers, analysts, writers, fans, and skeptics. Musk's tweets contradicted Tesla's previous habit of not disclosing reservation numbers on quarterly conference calls, claiming the measure was irrelevant.

According to Tesla's website, customers can order the truck for $100 and complete their setup until production begins in late 2021.

In a tweet on Saturday, Musk said that 42 percent of people had ordered the dual-motor option, which starts at $49,900, and 41 percent had ordered the $69,900 triple-motor model, which will be produced in late 2022. Just 17% of those who purchased the single-motor variant, which starts at $39,900, did so.

Electric Truck Market

In 2019, the Cybertruck was a one-of-a-kind device, but that is no longer the case in mid-2021. Ford recently entered the all-electric truck competition with the F150 Lightning, as previously reported. It has a range of up to 300 miles, can be used as a generator for homes in the event of a power failure, and costs just under $40,000.

Its style is far more conservative than what Tesla is selling with the Cybertruck, but this is a plus for many consumers. The Cybertruck will also compete against GMC's Hummer EV range, which includes pickup and SUV models.

Also Read: Producing Electric Cars Will Be Cheaper Than Gas Models by 2027

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