Elon Musk unveiled Tesla’s cybertruck on Friday night. Craig Irwin, senior research analyst at ROTH Capital Partners, and Tim Higgins, reporter at the Wall Street Journal, join “Squawk Box” to discuss.
We’ve got to talk about this in business the business side of things craig or wouldn’t senior research analyst at roth capital tim higgins is a reporter at the wall street journal calling it mad max who wants to start business wise well it makes a lot of sense in some ways if you know tesla is trying to get into the pickup market you know toyota for example has
Struggled for a generation to get any traction there because of the detroit three stranglehold on that that segment so if you look at where tesla’s market is in the us it’s largely in california that’s one place that toyota has seen some success with its midsize truck craig is it a business so phil’s right about that you know there’s a lot a lot of jokes this
Morning this is more of a brand building event than anything else you know eelain’s obviously played way too much minecraft over the last several years but that’s that’s what allows him to connect with the kids out there right and you think he new generation the younger generation will buy this truck and wants a truck like this people are warned truck like this i
Was out to dinner last night with a ceo of a silicon carbide company from texas tech man i’m behind one right there are people that definitely want something like this you think they thought the glass would not break oh of course of course a they had no idea the glass would break i mean that was in tera that emma strange really the best part of the demonstration
Actually was a atv i mean i think that could that could crush everything in units right i mean that’s a cool little toy i mean so you know last night was really just elon having some fun he said he said in public before that you know he doesn’t really expect the truck to be a mainline product they’re really not trying to break the f150 stranglehold then are they
Yeah no no they want to take it on they want to be tough but you know if their talk of bulletproof siding and windows and stuff like that but clearly not a vehicle aimed at commercial buyers would make up a lot of that segment people who are using these these trucks in the business world you know something also is interesting here on the pricing and and kind of
Suggests another roll out the cheaper one the cheaper version of this truck is it looks it’s gonna be one of the earlier ones to come out which you know you normally see the high-end one come out first because you want to kind of get all the money you can out of the hot new vehicle but the company’s signalling that it’s going to be late twenty twenty twenty two
Before the higher end the truck with all the performance features hits i just wondered so they’ll never sell a hundred thousand of these i mean they’re gonna outsell the delorean right that’s a safe bet but you know they probably won’t outsell the aztek and that that peaked of twenty eight thousand units a year so you know it’ll it’ll be something similar to the
S in the axe maybe a little bit better maybe better maybe better than both its it good for people to take their eye off the financials of tesla or that’s not that’s not part of the tessa tessa needs to do whatever they can to keep the multiple in the stock and part of that is driving enthusiasm for the rest of the vehicles and enthusiasm for the company and retail
Investors are a large part of the the trading dynamic and tesla so you know this is this is something they’re doing to maintain their multiple need and you never could figure out the whole flamethrower thing i mean think if they did have a couple of tats the deciding came out with those things you know on full board that could have been maybe good even more popular
As i said you should come with some flamethrowers and some others ever see a tv so have something to say right nits is gonna freak out you
Transcribed from video
Tesla's Cybertruck reveal was a brand building event, analyst says By CNBC Television
