Tesla Cybertruck Depreciation: A Closer Look
The Tesla Cybertruck, a vehicle that was once flipped for nearly twice its MSRP, has seen a significant drop in value since its release. According to data from CarGurus, the average price of a Cybertruck has plummeted from $168,543 to $84,470 between April 28, 2024, and April 29, 2025, representing a 49.96% decline.
To put this into perspective, the average depreciation for all cars over three years is around 30.5%, while pickup trucks specifically tend to depreciate by about 23.7% over the same period. The Cybertruck’s depreciation far exceeds these averages, with a 2022 Rivian R1T losing only 39% of its starting price and a 2023 Ford F150 dropping a mere 33% in comparison.
Factors Contributing to Depreciation
Several factors contribute to the Cybertruck’s rapid depreciation. Firstly, Tesla has delivered only around 46,000 Cybertrucks to date, significantly fewer than the initial claims of over a million preorders. This has led to a surplus of inventory, with dealerships reportedly sitting on over $200 million worth of unsold Cybertrucks. In fact, some dealerships have become so wary of the model’s resale value that they are no longer accepting Cybertrucks as trade-ins.
Furthermore, Tesla’s decision to slash the price of new Cybertrucks to around $75,000 for the base model from an original price of $100,000 has also negatively impacted resale values. The controversy surrounding Elon Musk’s handling of the federal government bureaucracy, which has led to vandalism against Teslas and Cybertrucks across the country, is another factor deterring potential buyers.
Future Projections
Predicting the future resale value of the Cybertruck is challenging due to its relatively short time on the market. However, estimates suggest that it will depreciate by 59.5% in five years and a staggering 72.5% in 10 years. These projections are concerning for potential buyers and owners of the vehicle.
In conclusion, the Tesla Cybertruck’s depreciation is a significant concern for both current and potential owners. With its value dropping dramatically over the past year and factors such as low sales volume, price cuts, and controversy surrounding the brand, the outlook for its resale value remains bleak.
