Tesla’s Cyberquad For Kids Sells Out Upon Launch

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Tesla Inc (NASDAQ:TSLA)’s Cyberquad, an inexpensive electric ATV for children, is already out of stock just a few hours upon launching to the market. The product is expected to stir up the Christmas season with its $1,900 price, something sellers will try to capitalize on given the high demand the product has faced.

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Tesla’s Cyberquad

Tesla has seen an opportunity to conquer the market for children’s toys. Its ATV is only suitable for children over eight years old and weighs less than 68 kilos. As reported by CNET, “The ATV features a lithium-ion battery with enough juice to go 15 miles and boasts a top speed of 10 mph. When it's time to plug the Cyberquad in, it'll take five hours to top off the battery.”

The product has met with great success as it flew off Tesla's shelves in less than 24 hours. The vehicle reaches a top speed of 16 km/h and it promises to deliver long days of children's entertainment. Price has been set to $1,900.

With its launch, the company specified that production would be limited and that it would reach buyers' homes in between 2 and 4 weeks. Faced with the prospect of missing the chance, many buyers jumped on the website to place orders.

However, as is often the case in similar situations, some have been trying to capitalize on the launch. On the eBay U.S. page, several Tesla Cyberquads are already on sale at prices much higher than the official ones.

Hot Demand

Some of them are available for close to $ 5,000, while others have skyrocketed to $ 17,000. The price only guarantees reservation and a delivery promise since the Cyberquad is sold out already.

The madness unleashed by the Cyberquad is very reminiscent of other company products, such as the Model 3 or the Model Y, and more recently the Tesla Cybertruck —which, without ever announcing a specific launch date or sale price, already accumulates more than 1.2 million confirmed reservations.

CNN reports that Elon Musk “tweeted not long after the presentation that the Cyberquad would be offered as a Cybertruck accessory in 2021, but now production of the Cybertruck itself has been delayed. For now, at least, the toy version of the Cyberquad is all there is.”

Tesla is part of the Entrepreneur Index, which tracks 60 of the largest publicly traded companies managed by their founders or their founders’ families.