After months of dragging its feet, Tesla has finally opened trade-ins for its Cybertruck. But while Tesla's most futuristic electric car was trading at over $100,000 a year ago, its value has plummeted. The discount is reportedly between 35% and 45% after just one year of use. A tragedy for customers, of course, but a deplorable message for the Californian brand, which may partly explain why it has delayed the trade-in deadline so much.
This is happening in the United States, of course, the only country where the pickup truck is currently sold, and it's just one of the many bad news stories to hit the Cybertruck since its launch. The electric pickup truck already had bad press, with no fewer than seven recalls in its first year. This isn't likely to improve with a plummeting residual value. According to estimates from specialist sites such as Carvana, trade-in offers for the Cybertruck are currently between $56,000 and $59,000, which is much less than the $100,000 asked at launch.
A plummeting residual value
For their part, on the "Cybertruck owners club," a forum bringing together buyers of the electric pickup truck, owners share the trade-in offers they receive for their vehicle, a Cybertruck Founders Edition in the majority of cases. It appears that Tesla is certainly more generous (between $62,000 and $65,000 depending on mileage), but still far from the initial value of the car.
As a reminder, while a new vehicle is expected to lose some of its value during its first year (around 15 to 20%), it is very rare for this depreciation to reach nearly half of its initial value. However, if we refer to the Cybertruck trade-in offers on CarGuru, for example, it is possible to see drops in value of around 45%.
The used market is not the only one where the Cybertruck is suffering. According to Electrek, Tesla is struggling to sell the first versions of its pickup truck and currently has a stock of 10,000 unsold vehicles. Moreover, according to Cox Automotive, Tesla would have sold only 6,500 Cybertrucks during the first quarter of 2025. Meanwhile, these 10,000 Cybertrucks sleeping in parking lots would represent some $800 million in losses for the manufacturer, according to Tesla-info.com.
Source: Electrek
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