Tesla’s long-hyped Cybertruck has lost nearly 40% of its value in under a year, sparking questions about electric vehicle hype, resale viability, and the broader sustainability of Elon Musk’s EV empire.
At a Glance
- Cybertruck resale value has dropped by up to 38% just eight months after launch
- Tesla is now accepting trade-ins, exposing steep early depreciation
- EVs overall lose more value than traditional trucks and hybrids over five years
- Tesla previously threatened legal action against early resellers
- Some owners returned Cybertrucks due to harassment and social backlash
The Fast Fade of a Futuristic Icon
When Elon Musk debuted the Cybertruck with shattered windows and bombastic promises, it was billed as the bold new face of electric innovation. But less than a year after its launch, that futuristic façade is cracking—hard. Tesla has begun accepting trade-ins for the Cybertruck, and the numbers are damning: values have dropped between 37% and 38% in just eight months.
For early adopters who paid as much as $94,000, the reality is sobering. One trade-in offer reportedly came in at just $58,000, a loss of over $35,000 in less than a year—more than double the typical depreciation rate for a new vehicle in two years.
This is particularly striking given Tesla’s earlier stance, when the company warned buyers they could face legal repercussions for selling their Cybertruck within the first year. Now, with the resale market cratering, Tesla is left managing an unsellable fleet and investor disillusionment.
Watch a report: Tesla Cybertruck Depreciation Disaster.
EV Industry Hits the Brakes
The Cybertruck’s collapse isn’t just a Tesla problem—it signals a larger EV reckoning. Industry studies show electric vehicles lose a staggering 58.8% of their value over five years, compared to much lower depreciation rates for hybrid and combustion-engine trucks. This trend challenges years of narrative surrounding electric cars as smart investments and technological inevitabilities.
Even among EV competitors, the Cybertruck fares poorly. The Rivian R1T, another electric pickup, has depreciated only 29% over a two-year span. Tesla’s product, once hyped as revolutionary, now resembles a case study in overreach and untested ambition.
Adding insult to injury, owners are also experiencing public backlash. The Cybertruck’s aggressive design and Musk’s polarizing persona have made some drivers targets for vandalism and harassment. Multiple owners have reportedly returned their vehicles due to unwanted attention, turning what was meant to be a status symbol into a liability.
What This Means for Tesla—and the EV Market
Tesla claims to have secured nearly two million Cybertruck reservations, yet fewer than 50,000 units have been delivered, with production reportedly scaled back. The rapid devaluation suggests that consumer excitement has not translated into durable demand—and may not, particularly as EV saturation sets in and subsidy support wanes.
The implications go far beyond Tesla. As the Biden administration pushes for widespread EV adoption, the Cybertruck debacle raises hard questions about whether policy is outpacing both infrastructure and consumer readiness. For now, the Cybertruck’s journey from high-tech halo car to trade-in cautionary tale might be the clearest warning yet: a flashy launch doesn’t guarantee market longevity.
