Tesla starts sending Cybertruck Non-Foundation Series order invites

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Tesla has started sending out invitations to order the non-Foundation Series Cybertruck, which starts at $79,990 before options. While Tesla’s order page for the Cybertruck as of writing is still displaying the Foundation Series variant as of writing, the start of production for the all-electric pickup truck’s standard variants seems poised to start soon. 

The Foundation Series added $20,000 to the Cybertruck’s base price, which means that the Cybertruck All Wheel Drive (AWD), which starts at $79,990 before options, became a $99,990 vehicle, and the tri-motor Cyberbeast, which starts at $99,990, became a $119,990 all-electric pickup truck. The Foundation Series added a lot of extras and perks, but it did raise the entry price for buyers.

As could be seen in screenshots and videos that have been shared on social media platforms like X and forums like the Cybertruck Owners Club, the removal of the Foundation Series now enables customers to order the all-electric pickup truck without any extras. Thus, if a customer opts for a Cybertruck AWD with Core Wheels and Covers, Tactical Grey Decor, no Full Self-Driving (FSD), and no accessories, they could acquire the vehicle for $79,990 before taxes and fees. 

Tesla has not indicated if the Cybertruck AWD qualifies for the U.S. federal tax credit. Screenshots that were posted online also indicate that non-Foundation Series Cybertruck deliveries are estimated to start in October to November 2024. Interestingly enough, the range of the standard Cybertruck AWD is listed at 325 miles per charge, lower than the 340-mile Foundation Series Cybertruck AWD.

As observed by some members of the Tesla community, if customers order a standard Cybertruck with all the options that came with a Foundation Series vehicle, the difference in price becomes quite minimal. FSD, for example, costs $7,000 for early reservation holders ($8,000 for new orders), the Cyber Wheels and Covers cost $3,500, and the White Interior Color costs $2,000. 

Add in the $2,500 Tesla Shop voucher, 3D All-Weather Interior Liners, Gear Locker Dividers, Glass Roof Sunshade, D-Rings, L-Track Hooks, L-Track Bottle Opener, Center Console Tray, Powershare Home Backup capability, Powershare Mobile Connector, lifetime Premium Connectivity, and Off-Road Light Bar for the Cyberbeast that came with the Foundation Series, and it all comes to about a $3,000 premium or less for early adopters. Considering these savings, some customers have noted that the Foundation Series premium was worth it. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Tesla starts sending Cybertruck Non-Foundation Series order invites





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Tesla Analyst Shares of Three Growth Hurdles: Gene Munster

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Tesla analyst Gene Munster from Deepwater Asset Management named three headwinds that might affect the company’s return to growth. 

On Wednesday, October 2, 2024, Tesla released its Q3 2024 delivery and deployments report. Tesla produced approximately 469,796 vehicles and delivered 462,890 units in the third quarter. It also reported deploying 6.9 GWh of energy storage products. 

TSLA bull Gene Munster interpreted Tesla’s Q3 2024 delivery report as a return to growth for the company as deliveries were up by 7% year-over-year (you) in September. 

“I was expecting a slight miss, predicting deliveries would be up 4% y/y (452k) due to the company facing triple demand headwinds. This is positive, as it marks a return to growth after being down 5% in June and 9% in March,” wrote Munster in a recent note. 

Munster outlined three headwinds that may impact Tesla’s demand or sales. 

The Macro

Munster refers to the macro viewpoint of Tesla as the auto industry grows to embrace electric vehicles (EVs) and the company’s market share lessens, particularly in the United States. Munster theorizes that Tesla’s US sales for September lagged compared to the rest of the world and “were up low single digits for the quarter.” 

On the upside, he believes Tesla lost a fraction of its EV market share in the third quarter, adding that the company’s rate of decline is probably less than most investors expect. 

“By 2030, I believe Tesla’s U.S. market share will be above 40%, compared to about 50% today, and well above most investors’ belief that market share will drop closer to 20%.”

EV Subsidies in Europe are Declining

Deepwater analyzed EV subsidies in Europe, looking at the United Kingdom, Germany, France, and Norway, which account for nearly 20% of total EV sales. The firm saw a decline of 35% in EV subsidies. When it excluded the UK, which is no longer part of the EU, the decrease in EV subsidies was 24%. 

Elon Musk & Politics

Munster pointed out that Elon Musk’s political commentary has increased over the past few months, stating that it might present a headwind to sales. 

“Given that consumers are hyper-sensitive about politics and more than half of Tesla’s buyers lean politically left, this dynamic may have reduced deliveries by 5-10k during the quarter. This suggests U.S. numbers would have been 4% higher, and overall numbers just under 2% higher if not for the political dynamic,” he stated.

What do you think of Munster’s analysis?

If you have any tips, contact me at maria@teslarati.com or via X @Writer_0100110.

Tesla Analyst Shares of Three Growth Hurdles: Gene Munster





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Tesla Giga Berlin factory director argues for sick worker check-ins

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Tesla Giga Berlin’s factory manufacturing director, André Thierig, believes that workers who are calling out are abusing Germany’s social system.

He also said that the company’s plans to visit workers who have called out sick were positive, because workers taking advantage of the system are abusing it.

Last week, we reported that Tesla workers employed at Giga Berlin were taking off a significant amount of time.

Some reports indicated that there were workers who had abused the six weeks of leave that German policy allows, taking off on Fridays and late shifts to get a long weekend.

Thierig said in an interview with The Guardian that people calling out of work was not a poor reflection on Tesla but instead on the workers themselves who were exploiting the system:

“That is not an indicator of bad working conditions because the working conditions are the same on all working days and across all shifts. It suggests that the German social system is being exploited to some extent.”

He also said visiting the workers was common practice and an “appeal to the employees’ work ethic.”

CEO Elon Musk even said he was looking into the issue after it became more public and was shared to X, his social media platform, last week:

Union reps for IG Metall said that employees at the factory represented by the union have “high workloads,” and staff shortages turn into the company putting pressure on those who are ill to take on additional work.

Giga Berlin employs over 12,000 people, and it opened in 2022. The factory is still in the process of being expanded to make way for more production.

Tesla has crews on site that have removed trees and taken on the burden of identifying and destroying munitions from World War II that remain on the property after nearly a century.

Tesla Giga Berlin munitions search is almost complete: report

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Tesla Giga Berlin factory director argues for sick worker check-ins





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