Tesla starts accepting Cybertruck trade-ins – with ‘insane' depreciation
Tesla has started accepting trade-ins for Cybertrucks, revealing a significant drop in their resale value.
A year-old Cybertruck with 10,000km has been valued at US$65,000, a $35,000 drop on its original price.
This depreciation rate is about five times faster than the average for pickup trucks and has been labelled 'insane' by electric vehicle news site Electrek, which first reported the trade-ins.
The drop contradicts Tesla owner Elon Musk 's 2019 claim that his vehicles would be "appreciating assets".
Tesla reportedly has 10,000 unsold Cybertrucks, indicating a potential oversupply and contributing to the lower trade-in values.
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