Tesla’s Cybertruck is showing signs of trouble less than two years after its launch. Trade-in offers for the electric pickup have dropped as much as 40 percent compared to the original sale prices. This sudden decrease is disappointing many owners and slowing down sales.
Owners of the early “Foundation Series” Cybertruck, which originally cost around $100,000, are being offered between $60,000 and $65,000 for trade-ins, even if the trucks have low mileage. The high-end “Cyberbeast” model, sold for about $127,000, is being bought back for only $78,200. Tesla has added a temporary benefit that allows the transfer of the “Full Self-Driving (Supervised)” feature to a new Tesla, but this offer is limited and conditional.
The used car market is offering little relief. Websites like Car Gurus show prices only slightly above Tesla’s trade-in offers. However, demand remains low, and many Cybertrucks listed for sale are not selling quickly. This kind of price drop is unusual for Tesla, as its vehicles typically keep their value better than average.
The Cybertruck was introduced with a bold, futuristic design and promises of off-road capability. The vehicle attracted a lot of media attention and excitement. But owners have reported practical problems, quality concerns, and several recalls. The truck’s image has also been affected by Tesla CEO Elon Musk’s controversial political views. In some communities, the Cybertruck has been nicknamed the “Swasticar” as a form of criticism.
Tesla currently has a large inventory of unsold Cybertrucks, reportedly worth hundreds of millions of dollars. Because of weak demand, the company plans to pause production for now. Meanwhile, the Ford F-150 Lightning has taken the lead as the top-selling electric pickup in the United States.
After difficulties with his social media platform X, Elon Musk has said he will focus more on Tesla. Whether this will improve the Cybertruck’s outlook remains uncertain. The vehicle that was once seen as a symbol of Tesla’s innovation is now facing significant challenges.