Investors cast aside worries of weak Tesla (TSLA) electric vehicle sales in recent months. While its mainstream sedan and SUV demand weakens, Tesla’s odd-looking Cybertruck is the unexpected bright spot.
Tesla enjoys polarizing opinions on the Cybertruck. This creates controversy, raising awareness of the truck EV. As a result, Tesla may outsell Ford (F) Lighting F-150s and Rivian’s (RIVN) trucks. When the company announced its fourth Cybertruck recall, it revealed total sales. The recall affected 11,688 truck owners. Investors may infer that the EV leader sells around 1,800 Cybertrucks monthly.
Early buyers paid over $102,000 for the Cybertruck Foundation Series. The less expensive Cyberbeast and All-Wheel drive should attract more buyers. However, this will hurt the resale price of the Foundation model.
On Tuesday, Rivian announced that Volkswagon (VWAGY) would invest up to $5 billion in a new joint venture. RIVN stock will open up by nearly 50% this morning.
In the restaurant sector, McDonald’s rolled out a $5 meal deal. The firm needs to introduce value items to win back customers. It raised menu item prices steadily while cutting down on item count. Assuming the firm did not shrink the items in the $5 deal, the promotion should increase same-store sales.