People don\u2019t have to actually buy the Cybertruck to make it a hit for Tesla. They just need to come and look at it.<\/p>\n
While Elon Musk\u2019s futuristic electric pickup truck looks nothing like a Chevrolet Corvette or a Dodge Viper, Sean Tucker, senior editor at Kelley Blue Book, sees a resemblance between Tesla\u2019s He says they\u2019re all \u201chalo cars,\u201d aka an auto-industry phrase for a captivating or curious vehicle that draws in gawkers. And once these curious consumers are in the door, they often end up buying something else on the showroom floor that\u2019s more affordable or better suited to their needs.<\/p>\n The Corvette and the Viper are two examples of such alluring automobiles, Tucker said. And he puts the new Cybertruck in that category, too.<\/p>\n \u201cWhat this thing really does is drive you in the showroom to buy a [Tesla] Model Y,\u201d he said.<\/p>\n <\/p>\n \n \u201c<\/span>\u2018What this thing really does is drive you in the showroom to buy a Model Y.\u2019\u201d<\/span>\n <\/p>\n While the Cybertruck has a starting price of around $61,000, the rear-wheel drive Model Y has a $43,990 base price. Plus, the Model Y qualifies for a $7,500 federal tax credit.<\/p>\n The Model Y is \u201cmore affordable, it\u2019s actually available\u201d and it already has broader appeal to car buyers than the Cybertruck may have for many truck buyers, Tucker said.<\/p>\n But there\u2019s no denying that the Cybertruck is revving up plenty of interest. Before Tesla\u2019s livestreamed deliveries in Austin, Texas on Thursday, for example, Tucker stood in a line that ran out the door of a Tesla store in Washington D.C. He said that he and the others were there just to get an up-close look at the Cybertruck.<\/p>\n \u201cThe moment you see it, it\u2019s otherworldly,\u201d he said. \u201cIt looks more like something you drive on Mars than what you drive on Earth, and I think that\u2019s the point.\u201d<\/p>\n And Tucker noted that he saw some people continuing to browse around the Tesla store after they checked out the Cybertruck. \u201cI suspect a few of them will be back,\u201d he said.<\/p>\n Related:<\/strong> The Tesla Cybertruck is finally here; prices start around $61,000<\/p>\n Sam Fiorani, vice president, global vehicle forecasting at AutoForecast Solutions, agreed that the Cybertruck\u2019s real value may be getting drivers into a completely different Tesla model. <\/p>\n \u201cEvery brand has a \u2018halo,\u2019 and it\u2019s always something distinctive,\u201d said Fiorani. \u201cThe Cybertruck definitely fits that model with its distinctive looks and over-the-top features. As a halo, it has the potential of working very well for Tesla.\u201d <\/p>\n So even if Tesla\u2019s new toy is impractical or out-of-reach for many people in the market for a new EV or truck, these automobile-industry analysts say it\u2019s likely that some Cybertruck oglers will shift gears to shop for a Tesla Model Y or the Model 3, instead, \u201cbased on their prices and the mainstream appeal of those vehicles,\u201d Fiorani said. The Tesla Model 3 now starts at $38,990.<\/p>\n The Consumer Reports test drivers are among the more than 1 million people on the Cybertruck reservations list waiting for their turn at the wheel. But the vehicle is already Tesla\u2019s \u201caspirational halo vehicle,\u201d agreed Jake Fisher, senior director of auto testing at Consumer Reports, regardless of whatever rating it gets. <\/p>\n \u201cDespite how it tests, it\u2019s still going to serve its purpose\u201d for Tesla, because of the chatter and attention that it\u2019s generating, he said. <\/p>\n New cars are incredibly expensive these days. The share of people with car payments that were at least $1,000 climbed to a record high in the third quarter, according to Edmunds. In October, people paid an average $47,936 on a new car, which was 1.4% lower year over year, according to Kelley Blue Book. <\/p>\n So customers want to know what they are getting for their hard-earned cash, and how that stacks up.<\/p>\n The Cybertruck has more than 1 million reservations, but researchers say it\u2019s probably not going to be pulling in conventional pickup truck buyers. It\u2019s \u201ca niche product,\u201d according to Cox Automotive analysts.<\/p>\n Tucker agrees, but notes the Cybertruck is in pretty much the same price lane as EV pickup trucks like the Ford Citi \u201cThere are always a variety of considerations that arise when comparing vehicles, but our initial observation is that core Cybertruck specs (price\/range\/performance) appear far more in-line with EV Pickup peers.\u201d<\/p>\n Here\u2019s their tale of the tape.<\/p>\n
\n TSLA,
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\n boxy Cybertruck and the two curvaceous sports cars.<\/p>\n
\n \u2014 Sean Tucker, senior editor Kelley Blue Book <\/span>
\n <\/small><\/p><\/div>\n<\/p><\/div>\nSo how does the Cybertruck match up?<\/h2>\n
\n F,
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\n F-150 Lightning and the Rivian
\n RIVN,
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\n R1T. \u201cThe price is amazingly comparable to others,\u201d he said, later adding \u201cin that sense, I think the price is fair.\u201d<\/p>\n
\n C,
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\n analysts made the same point in a Thursday note.<\/p>\n