Ford leads the pickup truck market with ~$25 billion in revenues over 2018, followed by GM’s Chevrolet with $19 billion, Chrysler’s Ram with $16 billion, and Toyota with $12.4 billion.
Tesla’s interest in the market is understandable, given that pickup trucks have been a big moneymaker for these auto majors.
While the Cybertruck appears to have impressive technology and performance, it remains unclear if traditional truck owners, who are typically very brand loyal, will be lured by the vehicle.
Based on Forbes estimates, the vehicle could add over $4.5 billion to Tesla’s revenues by 2025.
For perspective, this would be under 20% of the company’s 2019 revenues and roughly 55% of estimated Model X and S revenues for this year.