Tesla bull ARK Invest bases its forecast on the 1.6 million reservations for the Cybertruck and early Google Trends data.
The Tesla Cybertruck has huge potential, there's no doubt about it. With more than 1.6 million pre-orders reportedly in the bag, Tesla's biggest challenge will be to ensure it has enough manufacturing capacity to satisfy demand for its first electric pickup truck., some industry experts and analysts, including Morgan Stanley, don't expect it to become more than a niche product that won't be able to compete with mainstream pickup trucks.
"Today, most automakers fund the development and sales of unprofitable EVs with profits from their gas-powered truck sales. If the Cybertruck were to disrupt that profit center, traditional automakers could end up in trouble." ARK cites its own research that shows that global EV market share is likely to scale to over 70 percent by 2027, and the US will not be far behind.The company also cites a forecast from the US Energy Information Administration according to which trucks are expected to make up 69 percent of all vehicles in the US by 2050. However, electric trucks are expected to only constitute 10 percent of the total, per the same forecast.Cybertruck could be as mainstream as the Model Y.
"While sell-side analysts may be uncomfortable forecasting exponential EV growth, we believe it would be a mistake for them not to consider the implications Cybertruck success could have for traditional automakers." What do you think about this bold prediction? Do you believe there's any chance the Cybertruck will become as popular as
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