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.
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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
Tesla Cybertruck Wholesale Prices Are Dropping Pretty Quickly
In the ever-evolving world of electric vehicles, Tesla has long been at the forefront of innovation and market disruption. With the introduction of the Cybertruck, Tesla once again grabbed headlines and captured the attention of consumers worldwide. However, recent reports suggest that Tesla’s wholesale prices for the Cybertruck are dropping at a faster rate than anticipated.
When the Cybertruck was unveiled in late 2019, the futuristic design and impressive performance specs generated significant buzz among consumers and industry experts. Pre-orders for the Cybertruck flooded in, with many enthusiasts eager to get their hands on Tesla’s latest creation. However, as production delays and supply chain issues plagued Tesla, the wholesale prices for the Cybertruck began to drop.
According to industry insiders, Tesla has been struggling to ramp up production of the Cybertruck, leading to excess supply and a surplus of inventory. In response, Tesla has been forced to lower prices in order to move units and clear out excess stock. This has resulted in significant discounts for wholesalers and retailers who are looking to offload their Cybertruck inventory quickly.
While some consumers may see dropping wholesale prices as a bargain, others may be concerned about the long-term implications for Tesla’s brand and reputation. Some experts warn that deep discounts on the Cybertruck could signal weak demand and erode Tesla’s premium image in the market. Furthermore, lower wholesale prices could lead to decreased resale values for Cybertruck owners and potential buyers.
Despite these concerns, Tesla remains confident in the future success of the Cybertruck and continues to push forward with production and sales efforts. The company has reiterated its commitment to electric vehicle innovation and sustainability, and hopes to regain consumer trust and confidence in the Cybertruck brand.
In conclusion, the dropping wholesale prices of the Tesla Cybertruck may be cause for concern among some industry observers, but Tesla remains steadfast in its commitment to the success of its electric vehicle lineup. Only time will tell if the Cybertruck can overcome its current challenges and emerge as a dominant force in the market.