A Tesla Cybertruck owner who spent $116,000 on his Cybertruck says he is struggling to find buyers at $98,000. Pedro is trying to quickly offload his Cybertruck as he believes it will not fetch him $60,000 in a few months.
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Cybertruck prices are starting to come down from their peak at the beginning of the year. A few months ago, a Tesla Cybertruck on the secondary market was going for as high as $200,000. However, the prices have significantly dropped since then.
Just a few days ago, we were surprised to report on the first Tesla Cybertruck to sell for a loss. This means the owner sold his Cybertruck for less than what he paid for the truck plus taxes.
This event marks a significant shift in the Cybertruck secondary market, with the downward trend showing no signs of abating. Prices have now dipped below not only the vehicle's original cost plus taxes but even below the Manufacturer's Suggested Retail Price (MSRP).
A Tesla Cybertruck owner reports that spooked by the falling Cybertruck prices, he decided to sell his vehicle. However, it appears he is struggling to offload the vehicle, even at an $18,000 loss.
Pedro Hans is a Tesla Cybertruck AWD owner. After taxes and fees, Pedro paid $110,000 for his Cybertruck. Following this, Pedro has added modifications to his Cybertruck, including a complete wrap and full window tint that cost approximately $6,000.
However, to Pedro’s surprise, although his Cybertruck cost him around $116,000, he is not able to find an interested buyer to take the truck off his hands.
After listing his truck for sale on Facebook Marketplace, Pedro writes, “Well, we’ve already lost $12k. We paid $110k. Going for $98k or lower now 🤦🏻♂️Massive depreciation. I’ll be lucky to get $60k in April.”
Pedro listed his Cybertruck on Facebook Marketplace for “$98,000, or the best offer.” However, even though he listed his Cybertruck for $18,000 below the total $116,000 he spent on it, Pedro doesn’t appear to be getting buyers at this price.
For anyone who has closely followed the Cybertruck secondary market, this is shocking and emblematic of a wider trend in the Cybertruck world.
Even for brand new Cybertrucks, although Tesla has amassed over 1 million reservations, the EV maker is struggling to convert reservations to sales.
A few days ago, we reported people who had reserved a Cybertruck only a couple of weeks ago were getting an invite from Tesla to configure their truck.
Even more surprisingly, we saw a person who had reserved 24 Cybertrucks just for fun receiving communication from Tesla telling him that 15 of the Cybertrucks were ready for delivery.
What’s going on with Cybertruck sales?
Since the start of 2023, Tesla has cut vehicle prices by as much as 30% for some variants. This has left many early adopters of the company’s vehicles feeling burned.
People who have seen their Tesla vehicle investment depreciate by tens of thousands in a few weeks are wary that if they buy a Cybertruck now, Tesla will cut prices, and they will lose the residual value of their all-electric truck.
This sentiment is further exacerbated by the fact that Tesla is expected to start selling the non-Foundation Series Cybertruck variants by the end of the year. The regular Cybertruck variants forego some optional features for a $20,000 discount on the all-electric vehicle's starting price.
What is the silver lining?
The fact that Cybertruck prices are falling as people wait for the non-Foundation Series Cybertruck is certainly not great news for the EV maker’s profits. However, as consumers, this is also a good opportunity.
The falling demand for the Foundation Series Cybertrucks appears to be pressuring Tesla to make the vehicle more affordable.
In response to Tucker Carlson's 52-minute Cybertruck review comparing the all-electric truck with a Ford F-350, Elon Musk has even recently admitted that Tesla needs to make the Cybertruck more affordable.
This means that consumer pressure will force Tesla to lower Cybertruck prices sooner rather than later, which will translate into a better value for the same product.
Overall, it’s surprising to see Cybertruck prices fall this quickly. However, we’ll be sure to keep an eye on the Cybertruck secondary market and report back on the best deals we see.
Until then, visit our site, torquenews.com/Tesla, regularly for the latest updates.
So, what do you think? Are you surprised to see cyber trucks getting accepted in rural America? Also, can a Cybertruck replace a gas pickup truck? let us know your thoughts in the comments by clicking the red “Add new comment” button below.
Image: Screenshot from Tailosiv EV YouTube channel
For more information, check out: Elon Musk Responds to Tucker Carlson’s Tesla Cybertruck Ford F-350 Comparison Review – “We Need to Make it More Affordable”
Tinsae Aregay has been following Tesla and the evolution of the EV space daily for several years. He covers everything about Tesla, from the cars to Elon Musk, the energy business, and autonomy. Follow Tinsae on Twitter at @TinsaeAregay for daily Tesla news.
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Yea, even a boat would not…
Yea, even a boat would not have depreciated that fast. Send it to the auction.
Well All I can say is "You…
Well All I can say is "You should have done your homework better" These vehicle's are JUNK PERIOD!!! IF you paid more then $0.00 dollars for it? You paid to much!! Good Luck on your sale of the most stupidest vehicle ever made!!!
At $98,000 it's less than …
At $98,000 it's less than $2k less than Brand new. I'll take a new one, actually I'll take a new one in 6 months when price drops $20k. It's got nothing to do with the vehicle, most people will pay 2% more to get product new versus used.
The Foundation edition comes…
The Foundation edition comes with a bunch of non-vehicle components like installation of a home charging and vehicle to grid system as well as a lot of the available accessories and FSD. So if you're selling without those components then of course the price will be lower (just non-foundation + FSD) Just wait till you see the "foundation" trucks drop to essentially the retail cost of the non-foundation series shortly after those finally launch. Anyone expecting to sell one of these at a "profit" after the first several thousand were delivered is a bit foolish knowing they paid for early access... The used buyers are just a subset of those of us waiting for non-foundation trucks.
Those 'trucks' are hard to…
Those 'trucks' are hard to like. And with the problems people have been reporting, it's no wonder the value is dropping. And I think a lot of people are put off by the price. When Musk first announced it, he said it would be $40k. Many people reserved them based on that information. No surprise they no longer want them.
Ha ha ha, you’re trying to…
Ha ha ha, you’re trying to sell a USED Cybertruck for more than I can buy one new, their top model.
In what world does this guy…
In what world does this guy live in where he thinks his vehicle won't depreciate? LOL
Why are people so surprised?…
Why are people so surprised? Didn't their dads tell them that a new car is always a terrible investment? "It loses half its value the second you drive it off the lot" i was always told.
Seems like all these supposed finance and tech guys aren't really as smart as they pretend to be
The Tesla Cyber truck isn't…
The Tesla Cyber truck isn't being accepted in rural America, and that's a fact. That's not to say a person here or there didn't buy one, but it isn't going to be accepted in rural America because it's not replacement for a real truck.
It's junk and that's why most people don't want it. Once it starts getting used like a real truck the range quickly plummets to unacceptable levels.
An EV is never going to be a replacement for a real truck. Time is money. Do you think people working with their truck 12 hour days hauling stuff around want to spend the other 12 just trying to keep it charged?
Why would they? They can fill up their ICE vehicle if 19 minutes and be on their way. The ICE vehicle doesn't get less powerful at 1/8th a tank than full.
EV trucks are a pipe dream unless you want mini nuclear reactors on the roads.
EV is fine if you have home solar and charge it yourself. If you only need it for short commutes like work nearby and getting groceries but that's it.
Let's get a few things…
Let's get a few things straight. First, $98k from $110k is Not an $18k loss, but a $12k loss as stated mid-way down the article. To expect an ROI on window tint and wrap is very naive. Also, to expect a vehicle that was artificially inflated due to exaggerated hype and a lack of supply to not come down quick in price once supply issues are resolved and review videos come out, is just ignorant.
Just as we're seeing across the entire automotive industry. Now that the chip shortage has been resolved vehicles don't have ridiculous wait times, and you can reasonably find an acceptable model sitting on the lot. Which means that "market adjustment" mark-up is going to start turning into a markdown to move units as new stock gets dusty sitting around.