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Tesla’s Cybertrucks
A marketing marvel or a financial flop?
Kieran Ryan
July 21, 2024
Good morning, Nerders. It’s Monday, July 22nd. In today’s newsletter, we cover:
What’s the impact of Cybertrucks to Tesla
Will Nike lose its spot as the most valuable apparel brand
Why are potato chip prices so dang high
TODAY’S STORY
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Tesla’s Cybertruck might be the most polarizing car on the market.
Most of the media coverage has focused on the physical recalls, and rightfully so, considering that Tesla has had to recall its Cybertruck four times already.
But it’s actually off to a pretty good start, sales-wise. Tesla sold 8,755 Cybertrucks in the second quarter of 2024, according to data provider Cox Automotive, more than the Ford F-150 Lightning (7,902 units) and Rivian R1T all-electric pickup truck (3,309 units).
However, it’s hard to imagine Tesla’s Cybertruck being anything more than a branding and marketing play. Morgan Stanley forecasts that by 2025, Cybertrucks will account for less than 5% of Tesla’s revenues and closer to 0% profit.
Kim Kardashian, Jay-Z, Justin Bieber, and several other celebrities have all flexed their Tesla Cybertruck in public, and in Mr. Beast’s latest video, which 165 million people have already watched, he gives away 10 Cybertrucks as part of the challenge.
Cybertrucks are everywhere.
DATA BYTES
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Nike held the top spot for the world’s most valuable clothing and apparel brand, valued at U.S. $31.3Bn
It will be interesting to see if Louis Vuitton could overtake them in 2024, given Nike’s recent missteps (e.g., run clubs, lack of innovation, etc.)
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To read the web version of previous stories, click here
If you have any comments or feedback, just respond to this email.
Thanks for reading,
Kieran & Justin Ryan
