Tesla starts accepting Cybertruck trade-ins

The Cybertruck launched in December 2023, but despite Elon Must targeting a 250,000 units yearly production customer interest quickly waned. The supposedly long waiting list vanished within a couple of months as few opted to confirm them once they realized the truck achieves nowhere near the promised range and costs about twice as much.

In a related issue those that went through with the purchase, but changed their minds later on found it hard to sell their trucks as the second-hand market crashed and Tesla didn't allow them to trade it in for a different car.

Now, that changes and Tesla added a trade-in option for its truck. The trade-in deals will still see owners take a significant hit, though. One customer got a preliminary quote from Tesla, offering $65,400 for a 2024 Cybertruck Foundation Series with just 8,211 miles on it. Another customer got even less for the same configuration - $60,500 with 32,400 miles on the odometer.

That's significantly less than a brand-new limited edition Foundation Series truck with a $99,990 price tag. In other words, according to Tesla, the Cybertruck's value drops between 34% and 39% after just a year of driving. Obviously, depreciation of brand-new cars is often steep, but if the Cybertruck turned out to be the hot commodity Musk promised it should have done way better than the average.

Via