Cybertruck Leads Tesla’s Used-Car Collapse
The Tesla Cybertruck was introduced with much fanfare, hyped as a futuristic and indestructible vehicle poised to revolutionize the trucking market. However, its performance in the marketplace tells a different story.
Initially revealed in 2019, the Cybertruck gained notoriety when its "bulletproof" windows shattered on stage. Now, the once-anticipated vehicle finds itself at the center of a used-car market crash.
According to CarGurus, the average price for a used Cybertruck has plunged 30.35% over the past year to around $84,027. This slump reflects the vehicle's struggle to secure a mainstream audience and the broader crisis at Tesla today.
New Cybertruck sales also show declining trends. Reports indicate that only 4,306 units were sold in the last quarter, marking a 50.8% decrease compared to the previous year, 2024.
A Brand-Wide Collapse
The Cybertruck’s market failure highlights larger issues within Tesla. CarGurus data also shows a significant decline in used Tesla prices. As of early August, the average used Tesla is now cheaper than the average U.S. used car, priced at $27,852 — a 14% drop year-over-year.
This broad price drop is alarming for a brand historically known for commanding premium prices. Model S prices have dropped by nearly 23%, and the Model X SUV is down almost 16%, with even Tesla’s best-selling Model Y seeing a 12% fall.
The Musk Factor
This downward trend links back to Tesla's CEO, Elon Musk. His contentious political positions have distanced environmentally conscious consumers — the brand's original supporter base. His involvement with the Trump administration's Department of Government Efficiency, along with his promotion of far-right ideas through social network X, has resulted in global protests and declining sales.
The financial repercussions are clear. The company's net revenue fell by 16.3% in the last quarter, emphasizing the significant brand damage. Although Musk has reduced his political role, the path to restoring Tesla’s image remains challenging.
Our Take
The Cybertruck’s fragile used market is a symptom of larger strategic and reputational challenges facing Tesla. To recover, Tesla might have to reevaluate its pricing strategies, marketing, and public positioning.
This content is tagged under: Cybertrucks, Electric Cars, Electric Vehicles.
