Latest news with #FoundationSeriesCybertruck
Time of India
27-05-2025
- Automotive
- Time of India
'4 month-long' ..., the reason that made a man in Texas return his Tesla Cybertruck same day
A Texas man returned his newly purchased Tesla Cybertruck on the same day he picked it up. According to a Techoreon report, the user returned his Tesla after discovering the vehicle had been sitting in storage for four months. Tired of too many ads? go ad free now Reza Soltani, who ordered the electric truck on April 25, was shocked to receive a Vehicle Identification Number (VIN) and a pickup notification within hours of placing the order. Curious about the speedy delivery, Soltani asked Tesla for more details and was told the vehicle had left the factory on January 8. Concerned about the potential effects of long-term storage on an electric vehicle, especially the battery and body condition, he decided to reject the unit and return it immediately, the report states. Unsold Tesla inventory piles up Tesla's practice of stockpiling unsold Cybertrucks has been widely documented. Images posted online have shown hundreds of vehicles parked in outdoor lots, raising concerns about deterioration due to prolonged exposure to the elements. According to reports, while some of them await delivery, many reportedly lack buyers. Analysts suggest the company has built significantly more Cybertrucks than it has sold, forcing it to cut prices and look to new markets like Saudi Arabia in an effort to offload excess stock. A DailyMail report quotes internal sources who say that the production target for several Cybertruck lines have been cut, and manufacturing teams have been reduced by half. To attract customers, Tesla is allegedly offering free lifetime charging for its $95,000 Foundation Series Cybertruck. Weather exposure raises quality concerns Experts warn that electric vehicles (EVs) are especially vulnerable to environmental damage. Exposure to sun, rain, and temperature swings can degrade batteries, reduce charge capacity, cause moisture buildup, and even lead to rust, according to The Cool Down. Tired of too many ads? go ad free now Tesla's Cybertruck, already under scrutiny for high repair costs and multiple recalls, may suffer even more if stored outdoors for extended periods, the DailMail report adds. Soltani's reaction highlights growing buyer skepticism around Tesla's inventory management, particularly with the Cybertruck, which has faced production delays, quality issues, and high repair costs.
Miami Herald
20-05-2025
- Automotive
- Miami Herald
Tesla makes a decision on Cybertrucks that owners will love
From its inception, to its public debut, to its sales debut years later, to now, the Cybertruck has had a turbulent life so far. Tesla (TSLA) CEO Elon Musk started the buzz way back in 2017 when he teased a picture of "a pickup truck that can carry a pickup truck." Musk promised a pickup truck with an electric powertrain that could generate enough towing capacity to make the most heavy duty Ford F-150 blush. Related: Tesla Cybertruck owners are going to hate Tesla's latest move Musk even promised that the base version of this revolutionary vehicle would be affordable, starting at $39,900. There was a bad omen during that 2019 presentation when Musk destroyed the supposedly indestructible window of a model Cybertruck. After a delayed 2021 release turned into a 2023 debut, fans who remembered the promise of the $39,900 model were disappointed to find that the base model started at more than $60,000. At the top of the year, there were reports that Tesla was scaling down production of the Cybertruck. Tesla notified workers in a leaked memo that production workers on the Cybertruck assembly line at its Austin Gigafactory would be moving over to Model Y production. Image source: Brown/AFP via Getty Images Despite a rocky rollout, Cybertruck had a lot of momentum when it debuted, thanks to a celebrity promotional blitz that saw deliveries to everyone from Kim Kardashian to Cardi B. Cybertruck garnered over 1 million reservations before it went on sale. However, recall data from earlier this year showed that the company delivered on a little more than 46,000 of those reservations during the first year or so of sales. Earlier this year, Electrek reported that Tesla was no longer accepting Cybertruck vehicle trade-ins. The company was sitting on about $200 million in Cybertruck inventory as of April, according to the report, with prices falling 55% year over year. Related: Tesla makes surprising decision on Cybertruck production However, according to a new Electrek report, Tesla has reversed that policy. Tesla has started taking Foundation Series Cybertruck trade-ins, and the prices being offered seem to confirm the depreciation reported last month. Tesla was selling brand-new 2024 Cybertruck AWD Foundation Series for about $100,000 last year. A person with 6,000 miles on the odometer was offered $65,400 for that same vehicle, representing a 34.6% depreciation in less than a year. Pickup trucks generally lose about 20% of their value in the first year of ownership, according to Kelley Blue Book, with the rate slowing down to 8% to 12% a year after that. So a normal pickup wouldn't lose more than 34% of its value until its third year off the lot with regular use. The Cybertruck example being traded was extremely lightly used. It's safe to say that after about 18 months, the Cybertruck has been a flop for Tesla. Despite the social media hype around the truck, it hasn't sold very many units. Tesla could really use a new hit right about now. While the company's stock has rebounded nicely from the doldrums, rising more than 42% from its nadir, Tesla is still in trouble. Tesla has a backlog of vehicles it is trying to clear with steep discounts. Tesla reported a 9% year-over-year decline in first-quarter revenue to $19.34 billion with earnings of 27 cents per share. Analysts were expecting revenue of $21.3 billion with earnings of 41 cents per share. The company's gross margin fell to 16.3% from 17.4%, and most concerningly, its automotive revenue fell 20% year over year to $13.9 billion. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
06-05-2025
- Automotive
- Yahoo
Here's How Much Cybertrucks Have Depreciated Since They Were New
Vehicles lose value the more they are driven. No surprises there, right? However, there are Cybertruck owners who appear to have thought they were buying money-printing machines. In fact, very early in its pixelated life cycle, someone actually flipped and sold a limited edition Foundation Series Cybertruck for nearly twice its MSRP at $244,000. The Cybertruck's value wasn't meant to last, though. The controversial truck from a controversial company run by a controversial man is subject to the law of gravity of depreciation as much as the next set of wheels. The question is, though, how much has it depreciated since the first geometric truck hit the streets? We reported in 2024 that the overall Cybertruck depreciation curve is really quite poor. Now, CarGurus is showing even more of a drop in the past year from April 28, 2024 to April 29, 2025, which is the day of writing this article. In that time, Cybertruck prices went from $168,543 down to $84,470 -- a 49.96% decline. The past 30 days have seen a 5.51% drop. So, not great! Read more: These Are The Fastest Depreciating Cars, So Buy Them Used And Save Thousands Digging in a little further, according to TopSpeed, the average depreciation for all cars across three years (longer than the Cybertruck has even been out) is just 30.5%, and among pickup trucks specifically, it's just 23.7%. That puts the Cybertruck's near 50% decline in the last year in the far bottom tier for the category. By contrast, according to Kelly Blue Book, a 2022 Rivian R1T, also an EV pickup truck, has only lost 39% of its starting price. KBB also says that the 2023 model of the great-granddaddy of all pickups, the Ford F150, has dropped a mere 33% in the same amount of time the Cybertruck has been around. Predicting where prices will be in a few years is a bit tricky here, since unlike the F150, the Cybertruck is too new to have hard data on how it usually performs over the long term. However, TopSpeed estimates that it will fall by 59.5% in five years, and a whopping 72.5% in 10. Those numbers aren't surprising given the current state of the company's sales. There are more storm clouds on the Cybertrucks' horizon, too, and they don't look good for resale value. Thanks to a recall earlier this year, we know that Tesla has only delivered around 46,000 Cybertrucks to date. While that number doesn't look too bad in a vacuum, CEO Elon Musk was initially claiming that he had over a million preorders for these low-res-looking trucks. Worse, Tesla dealerships appear to be sitting on over $200 million worth of Cybertruck inventory that they just can't shift. Word is that things have deteriorated to the point where said dealerships won't even take Cybertrucks -- their own vehicles! -- as trade-ins anymore for fear they won't be able to sell them again. None of that is good for resale numbers, and pushing it down further is the simple fact that Tesla keeps slashing the price of new Cybertrucks, down to around $75,000 for a base model from an original price of $100,000. Furthermore, the fact that political backlash against Musk's handling of the federal government bureaucracy has led to vandalism against Teslas, and particularly Cybertrucks, across the country. If a potential buyer is worried that a Tesla might be a target, they're not likely to buy a used one for a high price, if at all. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
Yahoo
04-05-2025
- Automotive
- Yahoo
Tesla announces massive discounts on Cybertruck inventory amid plummeting profits: 'They aren't moving them'
Tesla is offering enormous discounts on Cybertrucks amid reports of plunging profits. The automaker is offering up to $10,550 off Cybertruck inventory units in the United States for 2024 model year vehicles, according to Teslarati. There had been a $6,000 discount offered on the electric vehicles. In addition to the price reduction, every Foundation Series Cybertruck purchased will receive free lifetime Supercharging. While the Cybertruck was the top-selling electric pickup in the country in fall, its high price point has made it inaccessible to many consumers. However, there are many other EV options to choose from as the more eco-friendly transportation alternative continues to grow in popularity. In fact, Cox Automotive found that 1.3 million EVs were sold in the U.S. in 2024 — an uptick of 7.3% compared to the previous year. That's good news for the planet, too, as the Department of Energy reports that the transportation sector is the largest source of heat-trapping pollution in the nation. Driving an EV doesn't only help the environment, though. It can also improve public health. EVs produce zero asthma-linked tailpipe emissions, and even when accounting for pollution during other stages of their lifecycle, EVS are responsible for far less emissions over their lifetimes than gas-powered cars, per the Environmental Protection Agency. Making the switch to an EV can also help keep money in your pocket. Drivers can save $1,500 a year on gas and maintenance by going electric. As previously mentioned, the Cybertruck discounts are being offered while Tesla experiences a steep decline in profits. According to USA Today, Tesla's net income in the first quarter dropped 71%. Revenue was down 9%. CEO Elon Musk, whose approach as the de facto head of the Department of Government Efficiency has drawn significant backlash, attributed the decline to "changing political sentiment" and a "rapidly evolving trade policy," per the report. Would you ever consider buying a Tesla Cybertruck? Absolutely Never in a million years Maybe if it was way cheaper I already have one Click your choice to see results and speak your mind. Tesla is also facing increased competition as a growing number of established and emerging EV automakers expand their offerings. It is unclear whether that factored into the decision to offer Cybertrucks at a reduced price point. In March, Tesla issued a recall on more than 46,000 Cybertrucks. It was the eighth recall for the vehicle in just about one and a half years. Following the recall, Tesla introduced a separate upgrade to improve Cybertruck safety. The automaker added tire sensors that measure tread depth, road conditions, temperature, and camber alignment. One Teslarati commenter had a straightforward take on the matter, writing: "Unless they get the cost down they aren't moving them. There seems to be an appetite for around $40k as it was initially promised." Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
03-05-2025
- Automotive
- Yahoo
Tesla announces massive discounts on Cybertruck inventory amid plummeting profits: 'They aren't moving them'
Tesla is offering enormous discounts on Cybertrucks amid reports of plunging profits. The automaker is offering up to $10,550 off Cybertruck inventory units in the United States for 2024 model year vehicles, according to Teslarati. There had been a $6,000 discount offered on the electric vehicles. In addition to the price reduction, every Foundation Series Cybertruck purchased will receive free lifetime Supercharging. While the Cybertruck was the top-selling electric pickup in the country in fall, its high price point has made it inaccessible to many consumers. However, there are many other EV options to choose from as the more eco-friendly transportation alternative continues to grow in popularity. In fact, Cox Automotive found that 1.3 million EVs were sold in the U.S. in 2024 — an uptick of 7.3% compared to the previous year. That's good news for the planet, too, as the Department of Energy reports that the transportation sector is the largest source of heat-trapping pollution in the nation. Driving an EV doesn't only help the environment, though. It can also improve public health. EVs produce zero asthma-linked tailpipe emissions, and even when accounting for pollution during other stages of their lifecycle, EVS are responsible for far less emissions over their lifetimes than gas-powered cars, per the Environmental Protection Agency. Making the switch to an EV can also help keep money in your pocket. Drivers can save $1,500 a year on gas and maintenance by going electric. As previously mentioned, the Cybertruck discounts are being offered while Tesla experiences a steep decline in profits. According to USA Today, Tesla's net income in the first quarter dropped 71%. Revenue was down 9%. CEO Elon Musk, whose approach as the de facto head of the Department of Government Efficiency has drawn significant backlash, attributed the decline to "changing political sentiment" and a "rapidly evolving trade policy," per the report. Would you ever consider buying a Tesla Cybertruck? Absolutely Never in a million years Maybe if it was way cheaper I already have one Click your choice to see results and speak your mind. Tesla is also facing increased competition as a growing number of established and emerging EV automakers expand their offerings. It is unclear whether that factored into the decision to offer Cybertrucks at a reduced price point. In March, Tesla issued a recall on more than 46,000 Cybertrucks. It was the eighth recall for the vehicle in just about one and a half years. Following the recall, Tesla introduced a separate upgrade to improve Cybertruck safety. The automaker added tire sensors that measure tread depth, road conditions, temperature, and camber alignment. One Teslarati commenter had a straightforward take on the matter, writing: "Unless they get the cost down they aren't moving them. There seems to be an appetite for around $40k as it was initially promised." Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
