Tesla Pickup Release Major Problem: Will People Buy Elon Musk New Vehicle?

The long wait is almost over because the prototype of Tesla's CYBRTRK is up for its final reveal on Thursday, Nov. 21.

Previously, Tesla CEO Elon Musk boasted of its new pickup truck in an interview, saying, "It's going to be a truck that is more capable than other trucks. The goal is to be a better truck than a Ford F-150 in terms of truck-like functionality and be a better sports car than a standard (Porsche) 911. That's the aspiration."

With a driving range between 400 and 500 miles, power outlets for heavy-duty tools requiring no generators and a price below $50,000, the Tesla pickup is expected to be a hit in the EV market. With these grand announcements, will Tesla really succeed in convincing the people to buy their new vehicle? What are the problems that Tesla could be facing?

According to a report, some people on Wall Street sound skeptical about the new CYBRTRK. Based on some comments, hinted specifications like pricing below $50,000, driving range and acceleration are impressive but very little has been disclosed about the actual design of the truck.

“We expect focus to be on how well the actual design resonates with pickup buyers,” Emmanuel Rosner at Deutsche Bank said in a note. He also added that it could be risky that the vehicle would be so futuristic that it fails to attract “traditional pickup buyers, leaving it a lower-volume niche product."

Also, according to a study from Cox Automotive, only 5.8 percent of pickup truck buyers consider driving performance as the most important factor in their purchasing decisions. Rather, reliability is the most important in the pickup market, with 31.3 percent of buyers, followed by the best value for people's budget and good brand experience.

Musk has been vocal in sharing Tesla truck's futuristic and impressive specs that it will beat the Ford F-150, but reliability has never been mentioned. Tesla would have to beat the reliability ranking of the big players such as Ford, Ram, GMC and Chevrolet. Tesla is also not very well known to be a "truck expert" as compared to the recently mentioned manufacturers.

Musk may have also overpromised the 300,000-pound towing capacity of his cybertruck. It is definitely at par or even greater than the towing capacities of its rivals, which look more believable. Because of this, some analysts doubt that Tesla will be able to deliver a pickup that’s less than $50,000. This can be a big problem for Tesla since many of its fans are looking forward to its recently announced pricing.