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- Tesla has entered a segment that is already crowded with electric pickup trucks.
- Cybertruck is not compatible with existing truck accessories.
- Musk may have to adapt to the bigger truck ecosystem.
Elon Musk, Tesla's CEO, will have a steep learning curve to overcome when the Cybertruck finally reaches customers' driveways later this year.
Musk has taken a further step to push Tesla into the mainstream. He is now entering the lucrative US pickup truck market. Analysts and experts in the industry say that this futuristic truck will disrupt a tried-and true segment but also could throw Musk for a loop.
Musk prefers to keep all things in-house, but Musk is not keen on partnering with other brands to promote special edition trucks.
Any new product is also difficult to launch, and an electric pickup truck in particular. Tesla is not the first to enter its segment for the first time. Rivian, Ford, and GM are already in the market.
Cybertruck could have more difficulty converting current truck owners to its brand if it tries to target a newer, more niche group of buyers.
Cybertruck is also facing a tighter new vehicle market as customers are less willing to spend on unneeded purchases and prefer more practical vehicles.
Insider spoke with Karl Brauer, a senior analyst at iSeeCars.
Elon and aftermarket
The pickup truck industry's relationship with the aftermarket is one of the reasons it is so profitable. Add-ons such as mudflaps and light bars are available for purchase.
Pickup truck buyers are among the most likely to personalize their vehicles with aftermarket parts, which has created an entire sub-industry of both manufacturer-supported and third-party add-ons for trucks.
Recent photos of the Cybertruck revealed that it is already a truck with a minimal amount of customization. Brauer explained that the design of the Cybertruck makes it difficult for such add-ons.
He said: "I expect the Cybertruck to be a big hit in the aftermarket, but nothing will be available when it first launches."
Musk also does not collaborate with other companies to develop features for his cars. The tradition is for car manufacturers to allow aftermarket companies access to their new vehicles early so that they can work together on lucrative accessories.
Brauer stated that Tesla is a closed company. They don't have the same relationship with their dealers or suppliers as other car manufacturers. "Tesla is a very closed company – they don't work with dealers or their supply base in the same way other car companies do," Brauer said.
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By: nnaughton@insider.com (Nora Naughton)
Title: Elon Musk has a big learning curve ahead of him with the Cybertruck
Sourced From: www.businessinsider.com/tesla-cybertruck-elon-musk-has-a-lot-to-learn-in-pickup-market-2023-7
Published Date: Sat, 01 Jul 2023 11:50:00 +0000
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