When Cybertruck deliveries started rolling out in late 2023, Tesla stated it might not settle for trade-ins.
Now, issues have modified, stories EV information website Electrek, following what it calls “a business flop” for the electrical truck’s gross sales.
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Within the lead as much as automobile gross sales and deliveries, Tesla stated it had over a million reservations, however per Electrek, solely about 40,000 of these reservations grew to become precise orders.
The newly introduced trade-in program affords a bleak image for Cybertruck homeowners in the case of trade-in worth.
Cybertruck House owners Membership stories {that a} 2024 Cybertruck AWD Basis Sequence, which offered for $100,000, with 6,000 miles on the odometer, could possibly be traded in for simply $65,400. That is a 34.6% depreciation in only a 12 months. In response to Kelly Blue E-book, most new automobiles lose about 20% of their preliminary worth within the first 12 months.
Elecktrek blames the steep dropoff in worth on overproduction (what they name a scarcity of “shortage”) and the underwhelming efficiency of these vehicles that did discover consumers. Inside EVs notes that 46,096 Cybertrucks manufactured between November 2023 and February 2025 had been recalled as a consequence of an “adhesive problem” that led to items of the steel trim coming off the automobile whereas it was driving.
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Throughout an interview on the Qatar Financial Discussion board this week, Tesla CEO Elon Musk appeared undeterred by the corporate’s struggles.
“You possibly can simply take a look at the inventory value if you would like the most effective inside info,” he stated. “The inventory market analysts have that, and a inventory would not be buying and selling close to all-time highs if it was not, if issues weren’t in fine condition. They’re effective, don’t fret about it.”
Tesla’s chief govt additionally stated he’d be staying with the corporate for a minimum of one other 5 years.
