Tesla (TSLA) surged over the 200-dollar mark this week – just as we predicted. Now we’re back with an “under the radar” data point that has us even more bullish on the EV pioneer.
Our social media data-mining system has picked up a significant uptick in chatter around Tesla’s highly-anticipated Cybertruck.
In fact, mentions have surged by a whopping 80% year-over-year.
First unveiled back in 2019, folks have been able to pre-order one of these hyper-powerful, hyper-futuristic electric pickups for years. One night in December 2019, Elon Musk himself was seen wheeling one of the uber-cool trucks around Los Angeles.
And in the third quarter of this year, consumers will get their own chance to get behind the wheel.
So, it’s no wonder social media is teeming with anticipation for delivery day.
But it’s not just the volume of Cybertruck conversations that caught our attention…
It’s the tone.
Over the past 90 days, we’ve seen an impressive 6% increase in Consumer Happiness mentions around the Cybertruck. Positive sentiment now stands at a robust 80%.
It’s clear that consumers are not just curious about the Cybertruck. They’re totally stoked about it.
And Tesla is ready to use that consumer enthusiasm as “fuel” for growth.
This uptick in chatter isn’t idle: We’re seeing a big jump in Cybertruck-related job openings at Gigafactory Texas.
That need for workers makes sense considering more than 1.5 million of these supertrucks have already been reserved by eager consumers.
Musk wants to be sure his company can meet that demand.
Let me show you why this surge in desire is such a promising indicator for our favorite EV company…
Cybertruck Demand Is Already Surging
Consumers looking to dump their internal-combustion beasts haven’t had a lot of options: Most of the EVs on the market right now are conventional “sedans,” so folks who want a more exciting set of wheels are left wanting.
That’s especially true when it comes to pickup trucks. Once limited to farmers, contractors, and business owners, the pickup has become an everyday driver for a huge swath of Americans.
You’ll see EV trucks on the road from California upstart Rivian (RIVN)… But most folks aren’t willing to shell out $73,000 or more on a vehicle brand with virtually no recognition or track record for reliability.
Rivian expects to deliver 50,000 vehicles in 2023. (For context, Tesla delivered 422,000 in the first quarter alone.)
And it’s been plagued by recalls ever since the company went public – the most recent of which called back 13,000 of its EVs due to a passenger seatbelt issue.
Then there’s Ford Motor Co. (F), whose F-150 has been the market leader for decades. Its innovative F-150 Lightning EV pickup raced to its debut with plenty of hype. And they’re more affordable, with 2022 models starting in the $40,000 range.
Surely that would get traction out in rural America?
But pandemic-triggered chip shortages put the squeeze on Lightning production… Then came the recalls, after an F-150 Lightning caught fire in February due to a faulty battery. Production stopped for over a month. The brand has yet to recover.
Meanwhile, Tesla’s Cybertruck is expected to start at a highly affordable $50,000; and, according to Musk, will be outfitted in stainless steel. Most cars, Rivian’s and Ford’s included, are made from aluminum alloys.
And if we look at Google Trends search data – and where those searches are originating – we can see where Cybertruck interest is coming from.
See those darker areas on the map? Rural areas where pickup trucks reign.
Cybertrucks aren’t on the road – yet. But early projections from investment firm ARK Invest show demand for the Cybertruck could surpass that of Tesla’s most popular EV, the Model Y.
Prepare to see a lot of Cybertrucks on the road in the near future.
The Bottom Line
The enthusiasm we’re seeing for the Cybertruck in real-time consumer data is being echoed in Tesla’s strategic moves and industry projections.
It’s a testament to the potential of the Cybertruck and, more broadly, Tesla’s continued innovation in the electric vehicle space…
Remember: We’re here to provide you with the data and insights you need to stay ahead of the curve.
We’ll be keeping an eye on how these trends develop and encourage you to think about how they might impact your investment decisions.
Until next time,
Andy Swan
Founder, LikeFolio