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Marking Its First International Rollout, Tesla Navigates Varying Demand As It Fulfills U.S. Backorders And Enters The Canadian Market
2 min read
By Michael Phoon • November 5, 2024
Tesla has officially started delivering its Cybertruck electric vehicle (EV) to buyers in Canada, marking the first international expansion of the model’s rollout.
In Canada, the base “Foundation Series” Cybertruck is priced at CAD 137,990, which equates to around $99,000. This is considerably higher than the starting price of roughly $80,000 for the non-Foundation series Cybertruck in the United States (U.S.).
Despite the premium price tag, Tesla appears to have little trouble finding Cybertruck buyers in Canada. The company started taking reservations for the vehicle in Canada back in August, and now the first units are being handed over to buyers.
The Canadian launch comes as Tesla has largely fulfilled its Cybertruck backlog in the U.S. market. The company claims to have delivered around 40,000 Cybertrucks in the U.S. over the past year since the model’s debut. With that backlog now cleared, Tesla says anyone in the U.S. can now order a Cybertruck and receive it within a matter of weeks.
In contrast, the Cybertruck does not seem to be in particularly high demand in Canada yet. Even with the ability to place reservations since August, Tesla’s website indicates that new orders placed today can still be delivered within weeks, suggesting inventory is readily available.
The Cybertruck has been a polarizing product since its unveiling in 2019, with its unique angular, futuristic design drawing both praise and criticism. But Tesla remains confident in the model’s potential, recently claiming it achieved positive gross margins and beginning sales of the non-Foundation series version.
Notably, Tesla may have had as many as 2 million Cybertruck reservations worldwide. But with roughly 40,000 deliveries in the U.S. so far, the company appears to have made a significant dent in that backlog, paving the way for the model’s expansion into international markets like Canada.
As Tesla aims to match or exceed its record 2023 delivery numbers in 2024, the Cybertruck’s success in international markets like Canada will be crucial. With production ramping up and demand spanning across continents, the Cybertruck is set to play a pivotal role in Tesla’s growth.
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