Cybertruck Trade Buzz

Trade-In News

Tesla has finally opened up trade-ins for its infamous Cybertruck, reversing its previous policy. This change might not shock some folks watching Tesla’s moves closely. However, it’s left a few owners scratching their heads, particularly those seeing a drop from the initial price of $99,990 to today’s trade-in values hovering around $63,000. That’s quite a tumble in less than two years.

Owners’ Reactions

As expected, not all Cybertruck owners are taking this in stride. Some seem frustrated, pointing out the depreciation hits hard, especially with added features like Tesla’s Full Self-Driving (FSD) package. People are pointing out about $25,000 in lost value, around a 17.2% depreciation rate, calculated by comparing what was initially a premium investment.

Despite this, a portion of owners remains loyal, choosing to hang on to their trucks. For some, the idea of passing the Cybertruck down to their kids makes more sense than parting with it at a loss. These varying responses highlight the divide in the owner community.

Tesla’s Strategy

Tesla isn’t new to playing the long game with its inventory. A recent revelation that Tesla told lessees their vehicles would be converted for use in its robotaxi fleet only to turn around and sell them for profit shows the company’s knack for maximizing returns. With the Cybertruck, similar tactics might come into play.

Driving Experience

Driving a Cybertruck is a unique experience, no doubt. It’s unlike anything on the road right now. This is a vehicle built with a sturdy exoskeleton, made from ultra-hard 30X cold-rolled stainless steel. The truck offers a futuristic feel with an impressive electric range and robust performance, clocking 0-60 mph in under 3 seconds for its higher trims. While it doesn’t handle like a sports car, it holds its own against pick-up rivals like the Ford F-150 Lightning and Rivian R1T in terms of speed and versatility.

Looking Forward

What’s Tesla’s long-term game here? It’s a question that keeps coming up. While some might benefit as second-hand prices potentially drop, the overall impact is still hard to gauge. With Tesla’s propensity for software unlocks—where features can be enabled to enhance a vehicle’s ability—dealers might see trade-ins return with increased values. Watching how Tesla continues to balance its business insights and consumer relations will be crucial.