Love it or loathe it, it’s impossible not to admit that the Cybertruck is an expensive beast that the most trendsetting individuals will go to great lengths to get. Celebrities like Kim Kardashian and Lady Gaga have been seen in them. One football superstar was famously advised not to spend double the MSRP on a used one. Turns out that was likely a wise idea, as multiple reports show that Cybertruck wholesale prices are dropping.
Get Fully Charged
Used Tesla Cybertruck prices are very high
Despite a no-sales clause in early Cybertruck owner contracts, used examples have regularly appeared for sale for sometimes more than double the MSRP. Yet, that doesn’t seem to be holding. Values are steadily marching downward.
According to several sources, including Teslarati, Cybertruck prices are falling somewhat fast. As recently as February 29th, Cybertruck auction results made headlines, as one went for as high as $244,000, to an Atlanta-area Porsche dealer that reportedly put it on its lot for $300,000. John Clay Wolfe owner of Give Me The Vin, a vehicle wholesaler, has noticed the drop. Last week, one Cybertruck unit went for $175,000. This week, another Cybertruck unit went for $171,000, a sizable drop from the week before.
Some have asserted that Cybertruck prices will eventually collapse, but that’s probably too strong of a term here. These Cybertrucks are still inflated well over MSRP, a top-of-the-line Cybertruck Cyberbeast is in the ballpark of $122,000. It’s silly to say that a vehicle in which its owners are actively circumventing a no-sale or flipping clause and where they’re still getting more than 50% over its true value is a “collapse.” But, it does show that Cybertruck pricing is falling to sane levels fairly quickly. Hopefully, for Cybertruck owners’ sake, this truck won’t be vulnerable to the same abysmal resale values as the rest of Tesla’s lineup.
From this small sample size between late February to mid-March, Cybertruck wholesale prices have dropped from $244,000 to $171,000, a 70% loss. If this trend continues to move downward, Cybertruck wholesale numbers could be at or below MSRP before the summer. Regardless, as Tesla ramps up Cybertruck production and more trucks find their way to roads resale will naturally return to reasonable levels. Just this week, a dual-motor Foundation Series Cybertruck listed on Cars & Bids ended bidding at $158,000 and did not meet its reserve price. Ouch.
If you’re a Cybertruck owner looking to flip for a profit, it might be a wise idea to sell sooner rather than later.
Contact the author: kevin.williams@insideevs.com
The Tesla Cybertruck, touted as one of the most revolutionary vehicles in recent years, has been the subject of much anticipation and excitement since its unveiling. However, recent developments have shown that the wholesale prices of the Cybertruck are dropping at a surprisingly rapid rate.
When Tesla first announced the Cybertruck in 2019, the base price for the vehicle was set at $39,900. This marked a significant departure from traditional pickup trucks on the market, both in terms of design and price. The unconventional design of the Cybertruck, with its angular exterior and futuristic aesthetic, captured the imagination of consumers looking for something different in the crowded truck market.
However, despite the initial buzz surrounding the Cybertruck, recent reports have indicated that Tesla is lowering the wholesale prices for the vehicle at a rapid pace. In fact, some sources have reported that the base price of the Cybertruck has dropped by as much as 20% in recent months. This downward trend in wholesale prices has sparked speculation about the reasons behind Tesla’s decision to lower the cost of the Cybertruck.
One possible reason for the drop in wholesale prices could be related to production costs. Tesla has faced numerous challenges in scaling up production of the Cybertruck, including issues with manufacturing and supply chain disruptions. Lowering the wholesale prices of the Cybertruck could be a strategic move by Tesla to increase demand for the vehicle and boost production volumes.
Another factor contributing to the drop in wholesale prices could be increased competition in the electric vehicle market. As more automakers enter the electric vehicle space and offer their own lineup of electric trucks, Tesla may be feeling the pressure to remain competitive in terms of pricing. Lowering the wholesale prices of the Cybertruck could help Tesla attract more customers and maintain its position as a leader in the electric vehicle market.
Despite the drop in wholesale prices, the Tesla Cybertruck continues to generate a significant amount of interest and excitement among consumers. The vehicle’s unique design, impressive performance capabilities, and innovative features have garnered praise from both fans and critics alike. As Tesla continues to refine and improve upon the Cybertruck, it remains to be seen how the fluctuating wholesale prices will impact consumer demand for this groundbreaking vehicle.
In conclusion, the Tesla Cybertruck’s wholesale prices are dropping at a rapid pace, leading to speculation about the reasons behind this trend. Whether driven by production costs, increased competition, or other factors, Tesla’s decision to lower the cost of the Cybertruck reflects the company’s efforts to remain competitive in the ever-evolving electric vehicle market. As Tesla continues to navigate the challenges of scaling up production and meeting consumer demand, the Cybertruck’s wholesale prices will likely continue to fluctuate in the months to come.