Elon Musk Says a Pick Up Is on the Way
Full-sized pickups are the best-selling vehicles in the United States and the leader of all model sales nationwide is the Ford Motor Co. (NYSE: F) F-series, which will reach about 750,000 units sold this year.
Elon Musk wants in on the market and tweeted that Tesla Inc. (NASDAQ: TSLA) will have a pick up soon:
I’m dying to make a pickup truck so bad … we might have a prototype to unveil next year
— Elon Musk (@elonmusk) December 11, 2018
Pictures of the Tesla truck make it look more like a sports car. That may limit its appeal. It also will need to have a boring but large sturdy bed to carry what may need to be a half or three-quarter ton of cargo. It also will have to come with a second row of seats. The crew cabs are very popular.
Musk would enter a crowded market, which has never stopped him before. After the Ford F-series, the Chevy Silverado is usually the second best-selling vehicle in America, often followed by the Ram from Fiat Chrysler.
Musk is also up against the fact that pickup drivers will not take to electric cars as sport utility vehicle and car owners have, at least based on the demand for Tesla vehicles. Big engines are part of the pickup culture in many areas, although all the car companies make ones with smaller engines for the gas-mileage conscious.
Musk builds what he wants to and sells in the way he thinks will move the most inventory. Pickups are a risk, but maybe the market is finally right for his new product.