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.
Robotaxi Trial Nears Reality in Austin
Tesla’s Robotaxi Ambitions and Regulatory Scrutiny
Elon Musk reignited excitement by confirming Tesla’s robotaxi trial is on track to launch in Austin, Texas, by the end of June, starting with around 10 vehicles. This marks a significant step toward Musk’s long-promised vision of autonomous ride-hailing, though it’s not without hurdles. The National Highway Traffic Safety Administration is probing Tesla’s Full Self-Driving (FSD) software over collisions in low-visibility conditions, raising safety concerns as the company pushes for driverless operations. Musk’s claim that Tesla’s camera-based approach surpasses competitors like Waymo, which uses lidar and radar, adds intrigue to the race for autonomous dominance. With plans to expand to Los Angeles and San Francisco, Tesla’s robotaxi gamble could redefine urban mobility—or face regulatory roadblocks.
Boardroom Boost with Chipotle’s CFO Joining Tesla
Leadership Changes and Stock Surge
Tesla’s stock saw a fourth consecutive week of gains, fueled in part by the addition of Chipotle’s CFO, Jack Hartung, to its board of directors. This move signals Tesla’s intent to strengthen its financial oversight as it navigates a challenging 2025. Hartung’s expertise could help stabilize investor confidence amid Tesla’s sales slump—down 13% in Q1—and Musk’s divisive political involvement. Posts on X also highlighted Musk’s renewed focus on Tesla, with plans to scale back his work with the Trump administration’s Department of Government Efficiency to prioritize robotics and AI. Despite these positives, Tesla’s stock dipped below $350 by week’s end, reflecting investor caution as the robotaxi launch looms and competition from China’s BYD intensifies.
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