Tesla Global News #27

Cybertruck Owners Face Steep Depreciation as Trade-Ins Begin

Cybertruck Trade-In Program and Depreciation Challenges

Tesla made headlines last week by opening trade-ins for its Cybertruck, but the numbers are raising eyebrows. Owners are grappling with depreciation rates as high as 45%, a stark reality for a vehicle that hit the market with immense hype. For instance, one owner who purchased a $100,000 AWD 2024 model was offered just $63,100 after 19,623 miles—a 37% loss. Another, with a top-tier $127,000 Cyberbeast, received a trade-in quote of $78,200, shedding 38% of its value in just eight months. This move comes after Tesla initially banned resales to curb scalping, but ongoing quality issues—like runaway gas pedals and falling trim pieces—combined with backlash tied to Elon Musk’s political ties, may be driving owners to offload their trucks. The steep depreciation reflects broader market challenges for Tesla, as it navigates brand perception and competition in a cooling EV market.