Ouch.
Fire Sale
The value of used Tesla Cybertrucks is in freefall.
As Jalopnik results, prices for the divisive truck are on a steady and steep downward trajectory, selling for far less than the manufacturer’s suggested retail price (MSRP) on used car websites such as Bring A Trailer, signaling that the immense hype has died down considerably.
The truck has quickly become a lightning rod, the physical embodiment of Tesla CEO Elon Musk’s abrasive personality and increasingly chaotic vibe.
Now more than ever, driving a Cybertruck has come to be seen as a political statement, signifying a willingness to spend six figures on an issues-laden and astonishingly delicate off-roader to make a point.
The way prices are dipping, in other words, a MAGA hat might end up being a wiser long-term investment.
Underdepreciated
In one telling example, an owner sold their Foundation Series Cybertruck for a mere $83,000 after just three months and 6,600 miles earlier this month, a considerable gap from the MSRP of close to $100,000.
That’s in stark contrast to what Cybertrucks used to go for. In February, a Porsche dealership in Florida spent a staggering $244,000 on one, more than double the price of a new Foundation Series vehicle.
The truck has been mired in problems ever since first going on sale just under a year ago. It’s been recalled six times since then for a number of glaring issues, from software updates that brick the entire vehicle while driving to windshield wiper motors that fail to whip the monstrous wiper blade across the awkwardly large pane of glass.
The unusual choice of stainless steel cladding for the vehicle has also proven to be a headache for owners, from unpleasant surprises left behind by vinyl stickers to almost impossible-to-remove blemishes.
There could be several factors that could explain the ongoing depreciation of the Cybertruck, including Tesla finally catching up with demand.
But given its many pitfalls, the kind of negative attention it draws in public, and a wealth of better alternatives, those falling resale values probably shouldn’t come as too much of a surprise.
More on the Cybertruck: Thousands of Cybertrucks Recalled for Bricking While Driving
