No one has a bad idea about the future of Tesla’s futuristic truck, the Cybertruck. The company reports over 1.6 million reservations. The biggest challenge for Tesla remains sufficient production capacity. However, how the vehicle will perform in sales is currently a divisive topic.
Could the Cybertruck become Tesla’s best-selling vehicle?
ARK Invest, a long-time supporter of Tesla and its growth, envisions the future of the Cybertruck on the opposite side of the market compared to, for example, Morgan Stanley. In a recent blog post by Sam Korus, the company predicted even greater popularity for the Cybertruck compared to today’s most successful Model Y. Based on their research, the company expects tremendous growth in the electric vehicle industry, up to 70% in the next 4 years
The Model Y is the best selling car in the world for Q1. And when the Cybertruck makes the headlines it can garner more search volume than the Model Y and from geographies that are more prone to truck purchases.— Sam Korus (@skorusARK) May 26, 2023
What will demand for Cybertruck be? https://t.co/TOpUlhozlr
An electric pickup truck in every household?
Vehicles in this category are expected to dominate the territory of the United States and account for more than 69% of all vehicles in operation by 2050. However, purely electric variants are projected to represent only 10%. The company is therefore very optimistic and confident in the vehicle. After all, who would willingly criticize a company in which it heavily invests?
The large number of pre-orders and the continuously growing trend and demand for key search terms support the theories put forth by ARK. But are these data strong and reliable enough for such proactive support and statements? Could traditional manufacturers find themselves in trouble? Are they underestimating Tesla’s capabilities and will they start developing vehicles of a similar type?