Tesla’s Cybetruck is probably the most hyped electric vehicle in the market due to its multiple delays, which offered significant technological developments for the all-electric pickup. Apart from that, it is also undeniably attractive with its unique design.
Talks about the highly awaited pickup continued to escalate, especially when the automaker announced that Giga Texas is already assembling validation and certification release candidates.
All that said, it is unsurprising that many industry experts are optimistic about Cybertruck’s dominance and profitability, including Wall Street veteran and Future Fund ETF’s co-founder Gary Black. In an interview with the news platform CNBC, he expressed his high optimism toward the all-electric truck.
Interview highlights
Gary Black, also an ex-Goldman Sach’s Chief Information Officer, claimed that the Cybertruck would effectively promote itself when it hits the public roads.
“It’s big, it’s bold and it’s gorgeous. And what you’ve got is 1.9 million pre-orders, that’s a huge number. This thing is going to start deliveries end of the third quarter, the base model is going to be priced right below $50,000 bucks and it’s going to start rolling across America like a rolling billboard.”
Gary Black, Future Fund ETF’s co-founder
It must be noted that Cybertruck’s 1.9 million pre-orders may not all translate to actual sales. Nonetheless, this high level of interest in the all-electric pickup among Tesla fans may significantly attract more customers to visit the company’s website. As the industry expert noted, it will influence customers to like the model because of their superior experiences with the brand’s other vehicles.
“It being out there will create a halo effect for the Tesla franchise, just like what happened when the Model Y came out.”
Gary Black, Future Fund ETF’s co-founder
The industry expert also forecasted the Cybertruck sales to surge as soon as next year as he expects customers to remain interested in the model.
“You remember what happened to Tesla stock price in 2020, they were up seven-fold because everybody got excited about Model Y. Volumes went from 36 percent growth in 2020, to 86 percent in 2021. You’re going to see the same thing happen next year.”
Gary Black, Future Fund ETF’s co-founder
In addition, he also predicted that the all-electric pickup would primarily appeal to younger customers than older buyers.
“Pickup truck lovers especially if they’re younger – 65-year-olds may not like it. But the 40 to 50-year-old pickup truck owners will love it. It’s different and powerful.”
Gary Black, Future Fund ETF’s co-founder
See Also:
- Tesla Cybertruck to become a $30B business “overnight,” tech chronicler forecasts
- Tesla Cybertruck on track to hit 2 million pre-orders, 5 years wait for new booking
- Tesla improves energy density of the Cybertruck’s battery cells by 10%
- Tesla CEO hint sparks shift in Cybertruck price expectations
- Tesla finally produced its first Cybertruck at Giga Texas
Despite the unprecedented popularity of the Cybertruck, the industry expert assured that it will not overthrow its stablemates as Tesla has not yet penetrated the pickup truck segment before.
“So it’s going to be a home run for Tesla and it’s going to really catapult the stock.”
Gary Black, Future Fund ETF’s co-founder
As EV-a2z previously reported, Tesla has started producing the Cybertruck, with one unit rolling off the production line on July 15. Meanwhile, volume production will start by early 2024.
