As Tesla Cybertruck Market Collapses, Used Price Gets Real
Tesla electric cars and a Cybertruck are displayed in a test drive vehicle charging area at a ... More shopping mall parking garage in San Diego, California, on April 23, 2025. Elon Musk will significantly scale back his Trump administration work in May to focus on Tesla, the billionaire announced Tuesday as the electric vehicle maker reported a 71 percent drop in first-quarter profits. (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)
Used Cybertruck prices are crashing as dealers try to come to grips with the electric pickup's declining popularity.
Prices for the Cybertruck had been staying stubbornly high since the novel wedge-shaped stainless steel pickup went on sale in late November of 2023. But that appears to be changing quickly now. This comes against a backdrop of swelling inventory on Tesla's Cybertruck page. Some inventory discounts are as high as $8,000, bringing the price down for the All-Wheel Drive Cybertruck to as low as $64,490 with the federal tax credit.
In one case, a dealer in northern California was selling a used 2024 All-Wheel Drive Cybertruck for $85,000 in mid-April. But then, within two days, that fell to $82,000. Then within a week it fell to $80,000. As of Thursday May 22 it was $77,000. Then on Friday May 23 it fell yet again to $74,000, according to conversations with salespeople there. Used cars on average lose about 20% of their original value during the first year, according to Kelly Blue Book. But a 12% decline in a matter of weeks is unusual. 'We're having trouble keeping up,' commented one salesperson about the price declines in the past weeks.
Another dealer in southern California was selling a 2024 AWD Foundation Series Cybertruck for $80,000 – an impossibly low price a year ago. The Foundation series Cybertruck includes Full Self Driving (an $8,000 value) and a trailer hitch. While that dealer's price is more in line with typical used car depreciation, the Foundation Series version of the Cybertruck was at one time selling at wildly inflated prices on the used market due to high demand. In May of last year, a $100,000 Foundation Series purchased directly from Tesla was being resold with an average asking price of around $150,000, according to CarGurus, But that was before CEO Elon Musk joined the Trump administration in January, triggering a backlash from a small but vocal – and sometimes violent – faction of protestors. The Cybertruck became the symbol of disaffection with Musk and Tesla.
Another interesting development is the absence of used Cybertrucks on Tesla's inventory page. In fact, the Cybertruck is the only Tesla product not listed on the company's used inventory page, which does list Model 3, Model S, Model X, and Model Y, including a few of the new Juniper Model Y. Tesla had not been accepting trade-ins for Cybertrucks until recently, according to Cybertruck forums. While trade-ins prices are typically lower than those for private sales, the prices cited by some forum members have come as a shock considering the astronomical resale values seen last year at this time.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
29 minutes ago
- Yahoo
What the Trump-Musk Feud Means for SpaceX and NASA
The U.S. government relies on SpaceX to support NASA and other agencies, and the company has received more $20 billion in federal contracts for it. As Musk and Trump threaten to cut ties, here's what that would mean for the U.S.'s space ambitions.
Yahoo
29 minutes ago
- Yahoo
Nvidia's Stock and Business: How Did I Do With My 5-Year Predictions Made in 2020?
Co-founder and CEO Jensen Huang is still leading the company, as I predicted in 2020. Nvidia's GPUs are still the gold standard for artificial intelligence (AI) training, as I predicted in 2020. Nvidia stock has "solidly outperformed the market" -- an understatement --- as I predicted in 2020. 10 stocks we like better than Nvidia › In March 2020, I outlined where I thought tech giant Nvidia's business and stock would be in five years, or in March 2025. It's now a little past the five-year mark, so how did I do? Overall, I'd give myself a B or a B+. I was mostly correct in my business predictions and accurate about what investors care about the most, the stock price: "I feel very comfortable predicting that Nvidia stock will solidly outperform the market over the next half decade," I wrote. Indeed, from March 1, 2020 (when my five-year predictions article published) through March 1, 2025, Nvidia stock's total return was 1,760% -- nearly 15 times the S&P 500's return of 118%. In other words, Nvidia stock turned a $1,000 investment into a whopping $18,600 over this five-year period. (Nvidia stock's five-year return through the date of this writing, June 4, is a little lower, as the chart below shows. Shares are up since March 1; it's the change in the 2020 start date that slightly lowers their current five-year return.) Nvidia stock's fantastic performance has largely been driven by the incredible demand for the company's graphics processing units (GPUs) and related technology that enable artificial intelligence (AI) capabilities. Status: Correct. In March 2020, I wrote that "as long as [Huang] stays healthy, the odds seem in favor of his still being at Nvidia's helm in five years." For context, Jensen Huang, who co-founded the company in 1993, turned 62 in February, according to public records. Nvidia investors should certainly hope that Huang remains the company's leader for some time. As I wrote in June 2024: Nvidia is many years ahead of the competition in AI-enabling technology thanks to Huang's foresight. Starting more than a decade ago, he began to steadily use profits from Nvidia's once-core computer gaming business to position the company to be in the catbird seat when the "AI Age" truly arrived. Status: Correct. Here's part of what I wrote in the March 2020 article: Nvidia dominates the market for discrete graphics processing units (GPUs) -- the key component in graphics cards for desktop computer gaming. In the fourth quarter of 2019, the company controlled 68.9% of this market. Nvidia has increased its leadership position over the last five years. In the fourth quarter of 2024, it had an 82% share of the desktop discrete GPU market, compared with longtime rival Advanced Micro Devices' 17% share, according to Jon Peddie Research. Intel, which entered this market in 2022, had a 1% share. Growth in Nvidia's gaming market platform will be covered below. Status: Correct. In March 2020, I wrote: "In 2025, the gaming market should be much bigger [relative to 2020]." By all counts -- the number of global gamers, total computer gaming market revenue, and computer gaming PC revenue -- the computer gaming market has grown solidly over the last five years. And Nvidia has benefited nicely from this growth. In fiscal year 2020 (ended late January 2020), the company's gaming market platform generated revenue of $5.52 billion. In fiscal 2025 (ended in late January), this platform's revenue was $11.35 billion. This increase amounts to a compound annual growth rate (CAGR) of 15.5%. This is strong growth for such a huge market. It might not seem so only because Nvidia's data center market platform's growth has been phenomenal over this same period. In fiscal 2020, gaming was Nvidia's largest platform, accounting for 51% of its total revenue. In fiscal 2025, gaming was its second-largest platform behind data center, contributing about 9% of its total revenue. Status: Correct. In March 2020, I wrote: The company's GPU-based approach to accelerating computing is considered the gold standard for DL [deep learning, the dominant type of AI] training, the first step in the two-step DL process. [The second step is inferencing.] This statement is extremely likely to hold true in 2025, in my opinion. Since 2020, both AMD and Intel have launched GPUs for AI-powered data centers, but Nvidia's grip on this market -- which is growing like wildfire -- remains tight. IoT Analytics, a technology market research firm, estimates Nvidia had a 92% share of the data center GPU market in 2024. As an added plus, since 2020, Nvidia's GPUs have gone from having very little share of the AI inferencing chip market to having the largest chunk of this market. Inferencing is the running of an AI application. In fiscal 2020, Nvidia's data center platform's revenue was $2.98 billion. It skyrocketed to $115.2 billion in fiscal 2025, equating to about a 107% compound annual growth rate (CAGR). This amazing growth powered the data center to account for 88% of Nvidia's total revenue in fiscal 2025, up from 27% in fiscal 2020. Status: My timeline was too optimistic. In March 2020, I wrote: "In 2025, fully autonomous vehicles should be legal -- or very close to being so -- across the United States. Nvidia is well positioned to majorly profit from [this event]." I wouldn't say that fully autonomous vehicles are "very close" to being legal across the U.S. This event seems at least a few years away. But I continue to believe this watershed event will "turbocharge" Nvidia's growth thanks to its widely adopted AI-powered DRIVE platform. Status: Correct. In March 2020, I wrote: "Nvidia is incredibly innovative, so there seems a great chance that the company will introduce at least one major new technology that takes nearly everyone by surprise." Over the last five years, Nvidia has launched a good number of major new technologies that have likely taken most investors and Wall Street analysts by surprise. One example is its Omniverse platform, which launched in 2021. This is a simulation platform that enables the creation of virtual worlds and digital twins. It's been widely adopted by a broad industry range of large enterprise companies -- including Amazon, PepsiCo, and BMW Group -- for uses such as designing products and optimizing facility workflow. Status: Correct. Here's what I wrote in March 2020: It's impossible to predict a company's stock price in five years because so many unknowns ... can have a huge influence on the market in general. That said, given the projections made in this article, I feel very comfortable predicting that Nvidia stock will solidly outperform the market over the next half decade. Stay tuned. I'm planning on a predictions article similar to my 2020 one. Hint: It's going to be optimistic, as Nvidia's highly profitable strong revenue growth is far from over, in my opinion. Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Beth McKenna has positions in Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Amazon, Intel, and Nvidia. The Motley Fool recommends Bayerische Motoren Werke Aktiengesellschaft and recommends the following options: short August 2025 $24 calls on Intel. The Motley Fool has a disclosure policy. Nvidia's Stock and Business: How Did I Do With My 5-Year Predictions Made in 2020? was originally published by The Motley Fool
Yahoo
29 minutes ago
- Yahoo
Jefferies Downgrades Chewy (CHWY) to Hold, Flags Valuation Concerns
On June 5, Jefferies downgraded Chewy, Inc. (NYSE:CHWY) to Hold from Buy, highlighting concerns over valuation. Despite that, the price target was raised to $43 from $41, and the analysts observed that Chewy's stock has surged 41% year-to-date. A close-up shot of a store shelf stocked with pet food and supplies. The analysts had reservations about Chewy's capacity to outperform Street estimates in the upcoming Q1 results, to be released on June 11. Jefferies observed that Chewy, Inc. (NYSE:CHWY) is seeing gains from sponsored ads and data-driven insights from its website and mobile application. However, the analysts believe that the current share price has already factored in these positive developments, which can temper potential gains outside of management's projected guidance. The downgrade happened because of Chewy's valuation, as analysts see limited scope for price appreciation. Jefferies maintains a conservative stance regarding the company's future performance. Chewy, Inc. (NYSE:CHWY) is an online American pet retailer that sells pet food, supplies, medications, and services through its website and mobile app. While we acknowledge the potential of CHWY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and .
