Tesla’s Cybertruck Launch Delayed Yet Again as Company Misses Q3 2023 Target

Tesla’s Cybertruck Launch Delayed Yet Again as Company Misses Q3 2023 Target

1st Gear: The Elusive Cybertruck Launch
The Cybertruck saga continues as Tesla misses yet another promised delivery date. Initially set for Q3 2023, this marks the fifth deadline for the unconventional electric pickup truck. According to the Wall Street Journal, Elon Musk pledged a special delivery event by the end of the third quarter, but September concluded without a glimpse of the Cybertruck on the road.

Originally slated for a 2021 release, the Cybertruck has faced multiple delays, putting pressure on Tesla amidst an aging lineup and softening electric vehicle demand. Musk, on a first-quarter earnings call in April, hinted at a third-quarter delivery event. However, he soon began offering reasons for potential delays, citing the truck’s challenging angular design and the need for tech refinements.

Although the Q3 deadline slipped by, Musk now points to the end of 2023 for the commencement of Cybertruck deliveries. Will this new target be met? Keep your eyes on the highway as we await developments.

2nd Gear: Uptick in New Car Sales
As we bid farewell to another month, the good news echoes in the automotive world. Reuters reports a surge in new car sales across the U.S. during the third quarter of 2023, attributed to stabilized supply and sustained demand. General Motors takes the lead with 680,009 vehicles sold, followed by Toyota at 583,661.

However, the specter of the United Auto Workers (UAW) union strike looms. S&P Global Mobility warns of potential sales disruptions in the fourth quarter due to production hiccups caused by the strike. Ford, GM, and Stellantis, having stocked up inventory pre-strike, may see daily output drop by over 4,000 units. Keep an eye on Q4 results for any impact on GM’s sales reign.

3rd Gear: GM Challenges UAW ‘Theatrics’
The ongoing strike at GM plants prompts a stern response from the automaker. GM CEO Mary Barra calls for an end to the “theatrics” and a return to negotiations, rebuffing UAW claims of violence tolerance. Barra accuses the union of lacking a genuine intent to reach an agreement, citing GM’s continuous availability for negotiations and its generous contract offer.

The UAW counters, asserting that Barra didn’t participate in bargaining this week. Tensions escalate as both sides dig in their heels.

4th Gear: Ford’s Engine Woes Expand
Ford faces a dual challenge as it grapples with union negotiations and a safety concern. A probe into “catastrophic engine failure” affecting some EcoBoost engines now spans 708,000 Ford SUVs, reports Reuters. The National Highway Traffic Safety Administration (NHTSA) is intensifying its investigation, focusing on the 2.7-liter and 3.0-liter EcoBoost engines.

Under normal driving conditions, affected vehicles may experience power loss due to potential valve-related catastrophic engine failure. The NHTSA’s scrutiny, initiated in 2022 with 25,000 at-risk vehicles, has escalated to an engineering analysis, hinting at possible recalls.

And now, in reverse: Remember that time when people thought drinking soda was better than water? How times have changed!

Greg Richling