Tesla Cybertruck’s Used Prices Plunge Over 30% as Sales Collapse

Teslas Cybertruck experiences a dramatic loss of over 30 percent in the used car market. The futuristic pickup, which was initially advertised as a revolution, fights with falling sales figures and a damaged brand image.

Cybertruck disaster shows itself in the used car market

The Tesla Cybertruck, which was presented with great promises in 2019, is a commercial flop, which is now out of the question. Show new data from the Cargurus auto market platform (via Electrek) that the average price of a used cyber truck has fallen by 30.35 percent in the past twelve months to around $ 98,000 (around 84,000 euros).

This development is remarkable because the Long Range version of the cybertruck is newly available for just under $ 81,600 (around 70,000 euros). This means that the models used more than new vehicles – an unusual phenomenon that reflects the confusion on the market. Industry experts undoubtedly know that the problems of cybertruck have been foreseeable since the spectacular presentation in November 2019.

At that time, the “bulletproof” armored glass was to be demonstrated, but chief designer Franz von Holzhausen threw a metal ball against the side windows, which led to two jumped windows. Musk later explained that the hammer strike broke the base of the glass, which was able to easily damage the disc later. Infographic: Tesla’s growth is stuck in reverse gear

Sales in free fall

According to Cox Automotive (via Gizmodo) In the second quarter of 2024, Tesla sold only 4306 cybertrucks, a decrease of 32 percent compared to the first quarter and even a whopping 50 percent in the year. These numbers are in strong contrast to Tesla’s original plans. The company had spent the ambitious target of up to 250,000 units a year, but was able to deliver just around 41,000 vehicles in the first full sales year.

Tesla under pressure

The cybertruck collapse is symptomatic of greater problems with Tesla. Cargurus data show that used Tesla vehicles as a whole are now below the US average for used cars-at $ 32,500 (around 27,900 euros) compared to $ 32,700 (around 28,000 euros) for the market average. This is “unprecedented” for a premium brand, writes Electrek. All Tesla models record declines: Model S has fallen by almost 23 percent, the model X was almost 16 percent, and even the world’s best-selling electric vehicle Model Y dropped by almost twelve percent.

The reasons for the problems are diverse: Tesla fights with quality problems, delivery delays and an increasingly controversial image of CEO Elon Musk. His political statements and his behavior on social media have deterred some customers that Tesla originally perceived as a progressive, environmentally friendly brand.