One of the most anticipated and talked about electric cars of the last few years has demonstrated a shocking value dip
The Tesla Cybertruck now offers trade-ins after around one-and-a-half years of being in existence. However, interested parties might not be thrilled about the offer. It is abundantly evident that the American EV giant didn’t achieve the kind of sales it anticipated when the deliveries commenced back in December 2023. In fact, out of an allegedly promised 1 million reservations, Tesla only received around 40,000 orders. Therefore, it is already sitting on a substantial inventory.
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Tesla Cybertruck Trade-ins Commence
A prominent Cybertruck Owners Club forum was abuzz with the image of a screenshot which captures the value of a 2024 Tesla Cybertruck all-wheel drive at just $65,400. Note that it had only completed 6,211 miles on the odometer. For reference, the new 2024 Cybertruck AWD Foundation Series retails for a whopping $100,000.
This marks a considerable approximately 35% depreciation in a matter of just 1 year. That is quite surprising. As per some reports online, the average depreciation of pickup trucks in 1 year is around 20%. To reach 34%, there is mostly a duration of 3-4 years and substantially more miles on the odometer than this Cybertruck.
What’s even more concerning is the fact that the image also showcases the disclaimer, which suggests that this is an estimated number based on the current market conditions and vehicle details. Therefore, it is possible that the final number might be even lower. That will surely leave the existing owners a bit sour and alarmed. One can only imagine what the value of the electric pickup truck will be after 3-4 years of usage.
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Learn Electric Cars Says
Now, it is concerning to know just how rapidly the value of the Tesla Cybertruck is falling. Firstly, the EV came into existence after a delay of around 4 years. Until then, there was a humongous hype created about it. In all honesty, it did pique the interest of buyers, as well as car experts alike, at the time of launch. However, ever since then, the inventory is not being cleared from dealerships as quickly as Tesla would’ve liked. Let us see the kind of impact this latest instance bears on potential customers.