Finance expert explains ‘real reason’ why Tesla Cybertrucks aren’t selling as he compares them to Ford F-150 Lightning

A finance expert has explained the ‘real reason’ why Tesla Cybertrucks aren’t selling as well as rivals, such as the Ford F-150 Lightning EV pickup truck.

It is no secret that Elon Musk’s company is struggling to sell the Cybertruck, with the EV seeing declining sales and a wane of interest.

Some say it is because the truck is too big and too ugly, but TikTok user and finance expert Ravi Wadan says that it simply boils down to one key factor.

That factor, he feels, is the main reason the Cybertruck is failing, and why its rivals don’t need to worry about it.

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Why are Cybertruck sales so low?

Simply put, Wadan believes it’s the price of the EV that’s causing sales to be so poor.

His video on TikTok shows him going through the Tesla website and looking at various options for the pickup.

As he does so, the price gets higher, before he pans over to the payment section of the site.

When it comes to leasing, owners have to pay out $7,500 for a 36-month leasing term.

Then they have to pay an additional $893 a month to drive the Cybertruck.

But the total due at the signing of the lease could be higher, with it at $11,000 in Wadan’s video.

Over time, that cost will only go up and up.

Tesla Cybertrucks are far more expensive than the Ford F-150 Lightning

According to Wadan, you could pay an initial signing amount of over $11,000.

Then, you will have to pay nearly $900 a month to drive the pickup truck.

Even more damning for the Cybertruck is how inexpensive a similar deal is for the Ford F-150 Lightning.

According to Ford’s website, drivers will pay just $14,760 for the pickup over 36 months.

@raviwadan Tesla CyberTruck isn’t selling! Here’s why… In my opinion the, Tesla CyberTruck is just too expensive compared to the competition. #tesla #electriccar #carshopping #automotivenews #carsales ♬ original sound – Ravi Wadan (Finance Education)

That is a cost of $299 a month with no fee due at signing.

The Tesla pickup truck, meanwhile, will set its owners back a total of $42,272 over the same 36-month period.

In total, that’s a difference of $27,512.

Tesla Cybertrucks were already expensive vehicles to buy.

But leasing it, when there are many cheaper alternatives on the market, just makes it even less convincing.

With sales so low, Tesla’s next move might be to make a smaller, less controversial truck instead.The post Finance expert explains ‘real reason’ why Tesla Cybertrucks aren’t selling as he compares them to Ford F-150 Lightning appeared first on Supercar Blondie.