What is the potential market in terms of volume for the Tesla Cybertruck?

Expert Solution

Market is a place where buyers and sellers meet but in Economics it is about the demand and supply and the role of Producers and Consumers with the help of financial transactions. Market comprises of various types based on its features like Monopoly, oligopoly, duopoly and monopolistic competition.

Potential market refers to the part of the market which you can capture in the future.It can be the population that are not currently recommended but could become customers in the future. When you expand your business they can become your customer for the available goods and services because you start with the marketing strategy to attract a new group of people in the new style or way.

Potential market insurance in certain advantages like the future of your business by identifying new customers, It helps producers to think proactively which in turn help them to have business investment and collaborations which increases revenue.

Tesla cyber truck is a new venture in the automobile industry which is all electric, battery powered and even light commercial vehicle launched by Elon musk's Tesla Inc .It has announced the three models. This Cyber truck is developed to provide a sustainable energy which is acting like a substitute for fossil fuel power truck which are sold in the US economy. when we analyse the market orders on an average 5873 vehicles are ordered in a day. With the cyber truck link coming off of Tesla us website it's possible the company is essentially informing the customers that they are full up on reservation. Therefore the automobile industry has paid a new way for sustainable development of an economy like the USA. with the emerging and outcome of new electric trucks like Tesla cyber truck.

Rahul Sunny answered 2 years ago

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