[DigitalToday reporter Jinju Hong (홍진주)] Tesla has raised the price of its newly launched Cybertruck AWD trim to $69,990 from $59,990, an increase of $10,000. That is a rise of about 17 percent in 10 days from launch.

Electric vehicle outlet Electrek reported on March 1 that the AWD trim was unveiled on Feb. 19. It was priced as the lowest-cost Cybertruck on sale and was viewed as a value model, with dual-motor all-wheel drive, an estimated range of about 325 miles per charge, adaptive damping suspension, a powered tonneau cover and bed power outlets with V2X (PowerShare) capability.

Soon after the unveiling, Elon Musk wrote on social media platform X, formerly Twitter, the phrase "only for the next 10 days," underscoring that the price was limited. Tesla's website also posted a notice that the $59,990 price would apply through Feb. 28. As expected delivery timing was quickly adjusted, the company interpreted it as a sign of strong demand.

After 10 days, the price was raised to $69,990 and the leasing option also disappeared. Tesla did not disclose a specific reason for the increase, but has maintained its longstanding position that prices can vary depending on demand conditions.

At $69,990, the AWD model now has significantly improved specifications compared with the rear-wheel-drive model that previously sold at the same price. The earlier RWD trim excluded features such as air suspension, a powered tonneau cover and bed power functions to meet the price point, and was assessed as less competitive before being discontinued after 5 months.

The new AWD, by contrast, provides all-wheel drive and a dual motor system, adaptive damping and V2X features as standard, and is assessed as far better in performance and configuration when compared within the same price range.

Tesla had said at the Cybertruck unveiling in November 2019 that it would launch a dual-motor AWD model at $49,900 with a 300-mile range. At the time, it promised the top-end tri-motor AWD at $69,900 with a 500-mile range.

The current $69,990 AWD is about 40 percent more expensive than the initially announced price. Even after reflecting inflation, the $49,900 figure is estimated at about $63,000 in current value, leaving it still about $7,000 higher by that calculation.

The current top trim, the Cyberbeast, is sold at $99,990, widening the gap further compared with the 2019 highest-priced model.

Some critics have also raised concerns that the "10-day limited price" strategy created artificial urgency to boost demand and then justify a price increase. Tesla explained demand was strong based on delivery schedule adjustments and an increase in orders, but some say it could lead to issues of consumer trust in its pricing policy.

Cybertruck sales were initially targeted at more than 250,000 units a year, but are now reported to be at around 20,000 units annually. Despite assessments that the new AWD has improved competitiveness versus earlier versions, it is unclear whether the price hike strategy will help expand sales. The industry is watching what balance Tesla will choose between Cybertruck profitability and brand trust.