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Tesla Starts Accepting Cybertruck Trade-Ins with Staggering Depreciation

Pelican Press

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Tesla Starts Accepting Cybertruck Trade-Ins with Staggering Depreciation

Big news for Tesla’s Cybertruck this week, and this one doesn’t involve

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at high speeds.

According to a

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from Electrek, the newly embattled automaker has finally started accepting trade-ins. The company delivered the first Cybertruck in November 2023, but as they have been rolled out to reservation holders, Tesla hasn’t taken them back.

While Elecktrek has deemed the Cybertruck a “commercial flop,” it’s hard to argue with the numbers. According to Cox Automotive, Tesla sold nearly 39,000 Cybertrucks last year, its first full year of sales. Elon Musk’s early projections set expectations around 250,000 units.

Now for a bit more bad news for the early adopters: the depreciation is significant.

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The 2024 Cybertruck AWD Foundation Series sold for $100,000. As reported by Electreck, Tesla is offering just $65,400 in trade-in value—a depreciation of nearly 35% in a year. Pickup trucks typically depreciate around 20% in the first year.

Coming off a tough quarter that saw Tesla’s first quarter profit

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, and reports that the EV maker could have nearly $200 million in Cybertruck inventory it’s struggling to move, it looks like the company’s futuristic electric truck could soon become a thing of the past.

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#Tesla #Starts #Accepting #Cybertruck #TradeIns #Staggering #Depreciation

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