{"id":31908,"date":"2023-10-19T14:41:00","date_gmt":"2023-10-19T14:41:00","guid":{"rendered":"https:\/\/innodebt.com\/investing\/opinion-teslas-cybertruck-has-elon-musk-sounding-unusually-cautious\/"},"modified":"2023-10-19T14:41:01","modified_gmt":"2023-10-19T14:41:01","slug":"opinion-teslas-cybertruck-has-elon-musk-sounding-unusually-cautious","status":"publish","type":"post","link":"https:\/\/innodebt.com\/?p=31908","title":{"rendered":"Opinion: Tesla\u2019s Cybertruck has Elon Musk sounding unusually cautious"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002633763\" role=\"document\">\n<p>Elon Musk was uncharacteristically cautious about Tesla Inc.\u2019s next big vehicle Wednesday, and his comments may lead some on Wall Street to lower their initial expectations for the Cybertruck.<\/p>\n<p>The sci-fi-looking EV that appears as though it would be more at home on the moon or on Musk\u2019s favorite planet, Mars, has already been a source of missed expectations. First unveiled as a prototype in 2019, its production has been repeatedly delayed.<\/p>\n<div class=\"paywall\">\n<p>Early on in the company\u2019s conference call with analysts and investors Wednesday, Chief Executive Musk said he wanted to emphasize \u201cthat there will be enormous challenges in reaching volume production with the Cybertruck, and then in making Cybertruck cash-flow positive.\u201d<\/p>\n<p>Earlier, Tesla<br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/lastsale\" class=\"negative\">-8.43%<\/bg-quote><br \/>\n       reported third-quarter earnings that missed Wall Street\u2019s expectations, and combined with Musk\u2019s comments to \u201ctemper expectations,\u201d its stock sank more than 4% in after-hours trading, following an initial rally. Musk may have caused some confusion among investors by his positive tweets Wednesday afternoon that the first Cybertruck deliveries are scheduled for Nov. 30, but then sounded a bit overly cautious about it on the call.<\/p>\n<p>He did not say exactly how many Cybertrucks he thought Tesla could produce in the initial ramp this year, and said volume production would not occur until 2025. <\/p>\n<p>One investor asked how many Cybertrucks Tesla may be able to deliver in 2024. <\/p>\n<p>\u201cThe more uncharted the territory, the less predictable the outcome,\u201d Musk said. \u201cIf you say, \u2018well, where will things end up?\u2019 I think we\u2019ll end up with roughly a quarter-million Cybertrucks a year. And I don\u2019t think we\u2019re going to reach that output rate next year. I think we\u2019ll probably reach it sometime in 2025. That\u2019s my best guess.\u201d<\/p>\n<p>In its shareholder presentation, in a chart on its factory capacity, Tesla noted that its gigafactory in Texas has a capacity of more than than 125,000 units. But the way Musk was downplaying volume production, it seems unlikely it will hit that number this year, and 2024 is another question. <\/p>\n<p> \u201cThis is simply normal,\u201d Musk said. \u201cWhen you\u2019ve got a product with a lot of new technology, or any brand-new vehicle program, but especially one that is as different and advanced as the Cybertruck, you will have problems proportionate to how many new things you\u2019re trying to solve at scale.\u201d<\/p>\n<p>\u201cWe dug our own grave for Cybertruck,\u201d Musk added. \u201cNobody digs graves by themselves and so it is -\u2013 Cybertruck is one of those really special products that comes along only once in a long while.\u201d<\/p>\n<p>Not only was Musk cautious about the Cybertruck\u2019s timing, he also said he was worried about the effect higher interest rates would have on the car-buying public, as most consumers buy cars on payment plans that accrue interest. <\/p>\n<p>He was vague and did not answer specifically when asked about the company\u2019s current timeline for robotaxis. He proclaimed in 2019 there would be 1 million Tesla robotaxis on the road the next year.<\/p>\n<p>He did say that demand for the Cybertruck is \u201coff the charts,\u201d with 1 million people having made reservations. Cybertrucks are beginning to be seen more often in the wild in the San Francisco Bay Area, and one was actually spotted by this columnist on Sunday.<\/p>\n<p>It\u2019s worth pointing out that Musk is currently being sued by the Securities and Exchange Commission over his failure to testify to regulators investigating his disclosures concerning his ownership of Twitter stock before his ultimate $44 billion deal to take the social-media company private last year. It\u2019s feasible that, for once, Musk is listening to Tesla\u2019s \u2014 or his own \u2014 attorneys about the risks of making overzealous predictions. Or he could be concerned that production is going slower than he anticipated. <\/p>\n<p>With Musk, investors never know what kind of shenanigans could potentially be afoot. But it\u2019s always advisable to tread with caution on anything that he says. <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/teslas-cybertruck-has-elon-musk-sounding-unusually-cautious-for-once-290dbb62?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk was uncharacteristically cautious about Tesla Inc.\u2019s next big vehicle Wednesday, and his comments may lead some on Wall Street to lower their initial expectations for the Cybertruck. The sci-fi-looking EV that appears as though it would be more at home on the moon or on Musk\u2019s favorite planet, Mars, has already been a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":31909,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[32],"tags":[],"class_list":{"0":"post-31908","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Opinion: Tesla\u2019s Cybertruck has Elon Musk sounding unusually cautious | Innodebt<\/title>\n<meta name=\"description\" content=\"Elon Musk was uncharacteristically cautious about Tesla Inc.\u2019s next big vehicle Wednesday, and his comments may lead some on Wall Street to lower their\" \/>\n<meta name=\"robots\" content=\"index, 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