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The Tesla Cybertruck, once a highly anticipated vehicle, is reportedly experiencing a significant slowdown in sales, raising concerns about its market performance. Early enthusiasm seems to have waned, leading to increased inventory and depreciating trade-in values.
Sales Decline Signals Trouble for Tesla’s Cybertruck
Recent data indicates a notable drop in Tesla vehicle sales, particularly for the Cybertruck. While the initial launch saw strong demand, the last few months have presented challenges, with some analysts pointing to a decline in the vehicle’s perceived value.
Reports from the first quarter of 2025 highlight a substantial year-over-year sales decrease for Tesla in key markets, including Europe and China. Competition is also intensifying, with other electric vehicle manufacturers gaining ground.
Inventory Surges, Demand Falters
Multiple sources suggest a growing inventory of unsold Cybertrucks. Early May figures indicated over 10,000 vehicles, valued at approximately $808 million, sitting in inventory, suggesting weakening consumer demand.
Moreover, the Ford F-150 Lightning has reportedly surpassed the Cybertruck in popularity as the leading all-electric pickup truck. This shift underscores the increasing competition in the electric truck segment.
Depreciation Deep Dive: Trade-In Values Plunge
Perhaps the most alarming indicator is the reported depreciation rate of the Cybertruck. A Cybertruck owner reported a trade-in estimate of $65,400 for a 2024 all-wheel-drive model with just over 6,000 miles. This translates to a roughly 34% depreciation in a single year.
This significant depreciation could be attributed to a combination of factors, including production challenges, recalls, and potentially, broader market sentiment. Safety concerns surrounding the Cybertruck have also been a factor.
The Cybertruck faced multiple recalls due to issues with components, including exterior panels, electric inverters, and acceleration pedals.