(Credit: Tesla)
Tesla is asking Cybertruck reservation holders to put down a $1,000 non-refundable deposit in an attempt to weed out those who are not serious buyers.
The futuristic electric pickup was announced in 2019, and thus far interested buyers have only been required to put down a $250 refundable deposit. Over a million people went for it, CEO Elon Musk told investors on the company's Q3 investor call.
Four years later, Tesla delivered the first Cybertrucks to customers on Nov. 30. The company also revealed the price and range, which ended up being nearly double what it initially communicated. It will come in three trims: the $49,890 rear-wheel drive model (deliveries start in 2025), $69,890 all-wheel drive (2024), and $96,390 top-of-the-line Cyberbeast (2024).
Given the price jump, fewer buyers are likely to be interested now, which the $1,000 non-refundable deposit may reveal. It appears that only people who have been invited to configure their vehicle have been asked to put down the money, according to a slew of posts on social media and Tesla forums. It will go toward the final cost of the vehicle.
Tesla has not publicly discussed the new deposit, though has quietly implemented several other policies unique to the Cybertruck launch. It will fine buyers $50,000 for re-selling the vehicle within the first year of ownership, for example.
To help boost sales on other vehicles, Tesla extended a $1,000 discount to Cybertruck reservation holders, Electrek reports. "Cybertruck is here and your reservation is in the queue," reads an email sent to potential buyers. "While you await delivery of your Cybertruck, get $1,000 off the lease or purchase of a new Tesla. Place your new order by December 21, 2023, to qualify."
Perhaps some buyers will opt out of the Cybertruck given the higher-than-expected price, and go for a Model 3 or Model Y instead—and try to cash in on the $7,500 federal tax credit before both models lose eligibility in 2024.