Cybertruck debacle: Tesla trade-ins show dramatic loss of value
The cyberruck loses value drastically: First trade in Tesla trade offers show that the electric pickup is only worth two thirds of the original price after a few thousand kilometers. Tesla also fights with high stocks.
Dramatic loss of value in cybertruck
So far, Tesla has refused in his pickup trade ins, but now the first offers have appeared: the Cybertruck Foundation Series, which cost $ 100,000 (about 89,600 euros), is only valued at $ 65,400 (about $ 58,600) after less than 10,000 kilometers – a loss of value of 34.6 percent. This rapid drop in price is particularly remarkable, since classic pickup trucks usually lose significantly less value.
Traditional models such as the Ford F-150 or the Chevrolet Silverado typically hold 75 to 80 percent of their value in the first year. In the end, only about 40,000 were converted into actual purchase orders of the originally over one million (non -binding) reservations. This discrepancy between initial interest and actual sales is symptomatic of the challenges with which the futuristic pickup is faced.
The cyberruck was presented in 2019 and immediately attracted worldwide attention with its unconventional stainless steel design. Like the industry portal Electrek Reports, Tesla is currently sitting on more than 10,000 unsuccessful cybertrucks. This amount would be enough for three months, even if production was stopped immediately. For comparison: In other Tesla models, the average inventory is about one month of production volume.
The situation on the free market is even more dramatic. Used car dealers have greatly reduced their purchases of the cybertruck because they want to avoid the vehicles to be on their farms too long. On platforms such as Carguru, the loss of value is even around 45 percent after one year. This is an unusually high loss of value for a vehicle that was originally marketed as a limited collector’s item. The cyberruck struggles with several factors that affect its resale value.
This includes the high initial costs, technical problems in early models and the fact that Tesla has reduced the price of new vehicles several times. In particular, the Foundation Series, which was sold as a limited first edition at prices from $ 100,000, suffered from these price cuts. For Tesla, the cybertruck is a special challenge (and also an image problem) because the company has invested considerable resources in development and production.
The Gigafactory in Texas was partially converted specifically for the production of cybertrucks. In view of the current sales figures and the rapid loss of value, the question arises whether these investments will ever be amortized.
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