Tesla Cybertruck's Huge Depreciation is Mindblowingly Bad

Miami Herald

25-05-2025

There's nothing like the Tesla Cybertruck on the market today. Its radical design pushes the envelope of what's considered modern, resulting in an appearance that gets attention wherever it goes. Initially, that was a very good thing, and the hype about the Cybertruck, its capabilities, and exclusivity was everywhere. The Cybertruck was, at the very least, polarizing. Some loved its daring design that thumbed its angles and corners at convention. Others couldn't stand the "fancy dumpster" and considered it an eyesore and an offense to good design. The Cybertruck has since fallen from grace, with over three months' surplus of unsold units. That's no bueno in the automotive industry and typically indicative of a bad sales forecast. Tesla has been discounting Cybertrucks to move them off lots, and to add insult to injury, it now appears that resale values have tanked. A recent report from Jalopnik reveals how this all transpired.
For more than a year after the Cybertruck's release, Tesla wouldn't accept the vehicle as a trade-in for other Tesla models. In a reversal of this policy, the automaker recently allowed owners to sell their Cybertrucks back to Tesla. In doing so, the automaker has inadvertently revealed why it resisted taking them back in the first place: it doesn't place a high value on used Cybertrucks.
On the Cybertruck Owner's Club forum, users have been testing Tesla's trade-in system, supposedly out of curiosity. These are Cybertruck loyalists, for the most part, and the trade-in estimates they're seeing are harrowing. Estimates reflect as much as a 35% drop in value after only about a year. Typically, anything more than 15% in the first year is considered significant depreciation for a new vehicle, and the Cybertruck's is more than twice that. 35% depreciation is typical of a mainstream vehicle after three years, not just one. Tesla obviously won't give much for a used Cybertruck when they can't even sell new ones.
Tesla had previously claimed the Cybertruck would only depreciate by 30% over three years. The market has told a different story-and now, so is Tesla. The company appears to be adjusting its expectations, offering resale prices that reflect the severely weakened demand and steep depreciation already evident in the secondary market.
Numerous factors likely contribute to this steep depreciation, including increased competition in the EV market (Rivian R1T, Ford F-150 Lightning, Chevrolet Silverado EV, and GMC Sierra EV in the U.S.; the BYD Shark in international markets), Elon Musk's political views and current influence in President Trump's administration, and issues with the quality and recall history of the Cybertruck model.
At the moment, it seems that all signs are pointing to a growing consensus about the value and perception of the Cybertruck, one that even Tesla may be starting to accept: the Cybertruck's polarizing design and mixed reception are taking a toll on its long-term value, along with Elon Musk's ever-growing negative public perception. For a vehicle that was so coveted at the outset to fall so hard is a rarity in the automotive world, but here we are. Whether or not Tesla can dig the Cybertruck out of its giant hole is the question.
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