MW Elon Musk says Cybertruck sales will start Nov. 30, and Wall Street celebrates
By Claudia Assis
Four years after prototype was unveiled, Cybertruck sales finally have a start date
Tesla Inc. Chief Executive Elon Musk tweeted Wednesday that the EV maker has penciled in Nov. 30 as the date it will start selling the first Cybertrucks.
The good news about the unconventional-looking electric pickup truck boosted Tesla stock $(TSLA)$ in the extended session Wednesday, despite an earnings miss for the company.
Musk also reposted a "Q3 shareholders update" tweet from Tesla showing the Nov. 30 event.
In a letter to shareholders accompanying results, Tesla pegged the first Cybertruck sales to later in the year, without specifying a date.
The Cybertruck, whose prototype was unveiled in late 2019, has been delayed for a couple of years.
U.S. buyers have favored pickups and SUVs for years over smaller vehicles. But electric pickups are not thick on the ground apart from Rivian Automotive Inc. $(RIVN)$ vehicles and the Ford Lightning, the electric version of Ford Motor Co.'s $(F)$ best-selling F-150 truck.
Tesla shares rallied in the extended session Wednesday, after ending the regular trading day down 4.8%. So far this year, however, the stock has more than doubled, contrasting with an advance of about 13% for the S&P 500 index SPX.
-Claudia Assis
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October 18, 2023 17:35 ET (21:35 GMT)
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