Tesla reveals ‘insane’ drop in value of used Cybertrucks as 10,000 go unsold
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Tesla starts accepting Cybertruck trade-ins – with ‘insane’ depreciation
- Tesla has started accepting trade-ins for Cybertrucks, revealing a significant drop in their resale value.
- A year-old Cybertruck with 10,000km has been valued at US$65,000, a $35,000 drop on its original price.
- This depreciation rate is about five times faster than the average for pickup trucks and has been labelled “insane” by electric vehicle news site Electrek, which first reported the trade-ins.
- The drop contradicts Tesla owner Elon Musk's 2019 claim that his vehicles would be "appreciating assets".
- Tesla reportedly has 10,000 unsold Cybertrucks, indicating a potential oversupply and contributing to the lower trade-in values.