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The Tesla Cybertruck, once hailed as a revolutionary vehicle, is facing a harsh reality check. Sales have steadily declined since their peak in July 2024, plummeting from 5,175 units to a mere 2,000 in April 2025. With a total of 46,000 units sold since late 2023, the initial hype seems to have faded into a deep sales slump.
Now, new data reveals a significant depreciation in the Cybertruck’s value. According to CarGurus, the Cybertruck has depreciated by a staggering 45% in just one year. This drastic drop has even led Tesla to initially refuse Cybertruck trade-ins, as reported by the Cybertruck Owners Club.
One owner discovered through Tesla’s app that their $100,000 AWD Foundation Series, with approximately 6,200 miles, is now valued at only $65,400. This represents a 34.6% decrease in value within a single year, significantly exceeding the average car depreciation rate of 30% over two years. Electrek also notes that Tesla’s initial online trade-in estimates are often higher than the final offer, further exacerbating the issue.
Several factors contribute to this decline. Design flaws and quality concerns have plagued the Cybertruck, ranging from reports of door-related injuries to issues with unintended acceleration and detached trim pieces. These problems have led to eight recalls since the vehicle’s launch, further damaging its reputation.
The used Cybertruck market began showing signs of trouble as early as May 2024, when resale prices crashed after the initial surge driven by limited production. This mirrors Tesla’s stock performance, which has exhibited a high price-to-earnings (PE) ratio, currently at 188.13 as of May 19. In contrast, leading EV manufacturer BYD has a PE ratio of 27.67.
As Tesla increased Cybertruck production, demand waned, resulting in unsold inventory and production slowdowns. This lack of demand has driven used car dealers to reduce purchases, accelerating the depreciation process.
Elon Musk’s previous claims that Tesla cars would appreciate in value have proven inaccurate. While most vehicles depreciate, the Cybertruck’s depreciation is particularly steep, contributing to a broader decline in the value of Tesla models. In 2024, the Tesla Model 3 and Model Y experienced the most significant depreciation among the top 200 car models.
Tesla’s overall performance reflects these challenges, with a 71% decline in net income and a 13% drop in EV sales during the first quarter of 2025. Stagnant design, outdated technology, and declining sales pose significant threats to the company’s future. The Cybertruck’s struggles exemplify these problems, potentially leading to a grim outcome: a surplus of these vehicles relegated to storage, becoming a costly liability for Tesla.