Tesla Halts Cheap Cybertruck Orders As Expensive Versions Pile Up

Tesla has stopped taking orders for its least expensive Cybertruck, hinting at demand concerns as more expensive Foundation Series trucks pile up in inventory, Pras Subramanian reported for Yahoo Finance.

Halting orders for the least expensive Cybertruck trim poses some challenges, given that the company has around 1 million preorders for the vehicle. I Photo: Tesla X

Over the weekend, Tesla halted orders for the rear-wheel drive (RWD) version of the Cybertruck, which was priced at around $61,000 and offered 250 miles of range. Now, the "cheapest" Cybertruck available is the $99,990 all-wheel drive (AWD) version, which has a range of 318 miles.

According to Tesla’s website, the Cybertruck AWD — a limited-edition Foundation Series model available only in the first year — can be ordered for immediate delivery in August or September.

The higher-end tri-motor 'Cyberbeast' version, priced at $119,900, can be ordered with delivery estimated for October at the earliest.

Halting orders for the least expensive Cybertruck trim poses some challenges, given that the company has around 1 million preorders for the vehicle, according to Elon Musk, and a goal of reaching an annual production rate of 200,000 Cybertrucks across all trims by the end of the year.

To be sure, the Cybertruck has sold well — 8,755 units in the second quarter, according to Kelley Blue Book, compared to 4,466 Ford F-150 Lightnings and only 3,309 Rivian R1Ts.

However, it remains a relatively low-volume EV for Tesla, which delivered 1.8 million vehicles globally last year.