The Rivian R1T, or something like it, is what Tesla's truck should have been. The Cybertruck is worse every time I see it. I can't believe they stamped that fucking thing as good to go for the American pickup market.

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Well, I think it more had to do with price & politics. If they had actually sold a $39k version, and Elon never got in bed with Trump, I bet it would have sold like hotcakes.
Do they? I feel like if you just want to get from point A to B, which is the vast majority of (say) urban or suburban commuters, then you need the sedan form factor, not a truck....
OK sure, perhaps compact or sub-compact is a better term... I mean I guess I'm thinking along the lines of the VW bug, like super-cheap, highly customizable, user-serviceable... I guess the common theme here is "car with a specific job to do", rather than "car that's some lifestyle / brand statement"....
Historically, pickup trucks did the best in a barebones config. That would be my guess. And as an anecdote, it's the first I've been attracted to. I hate sedans. It can also be configured as an SUV. I will never buy a sedan. There are probably fleet buyers who will like them too. It isn't just a consumer market. There are a ton of municipal work trucks that dont need to be as much truck as they are. Something like a cheap Slate is probably appealing. Parts delivery, etc.
For me the question is more about how small it is, not how large. If anything, that's where I'd agree with you. The American truck market consistently says it wants the Slate but doesn't actually buy those types of trucks, which is exactly why no one makes them anymore. So I think you're kind of right, except they'd be competing with an already well established market. There practically is no market alternative for what they've made. Only time will tell how that works out, but I can't emphasize enough that it's the only new vehicle I've been excited about since like 2013, and the first time ever for an EV.
Plus, I think Americans may start shifting back toward that style of vehicle. I've seen a resurgence in restoration for the old small pickups. People just dont want the expensive payments for obscenely over complicated princess trucks, myself included. I would drive a sedan if I wanted luxury. I don't. I want a practical truck that can tow, haul, and move just me around. The Slate fits that bill in theory.
I think gap between what Americans want and what Americans can afford is going to grow exponentially over the next 20 years. A slate sedan would be priced around 15k imo. 150 miles of range with nothing from the factory. Not even a stereo. Just like the truck.
Business idea: ship cars "almost" assembled, snap them together in America, profit 😄 Like Cody Wilson with the 3d-printed gun, legally speaking the "firearm" is the lower receiver, so just 3D print that part and the rest is just pieces of metal.
Government’s tentacles are deep in various industries in basically every country. It’s hard to know what’s subsidized and what isn’t. But, the only reason we don’t have $10k cars here is due to government regulation.