Tesla Cybertruck Owner Surprised by Depreciation

Introduction

A decade ago, it was common knowledge that a new car would significantly depreciate in value within months of purchase. However, the pandemic disrupted the car market, causing prices to fluctuate. Now that the market is stabilizing, a Tesla Cybertruck owner is shocked to find that their vehicle has already lost $12,000 in value after just 7,500 miles of driving.

Loss of Value

The owner of the Cybertruck shared their experience on a Facebook group, stating that they paid $110,000 for the vehicle but are now selling it for $98,000 or less. They express their frustration with the depreciation, predicting that they may only get $60,000 for it in April. This means that the truck has lost an average of $1.60 in value per mile driven. It’s important to note that this calculation does not include additional costs such as the blue chrome wrap or tinting.

Market Trends

It seems that more Cybertruck buyers are facing similar depreciation issues. Public auction data from Bring A Trailer shows a gradual decline in Cybertruck values. A recent tri-motor Cybertruck sold for $120,500, which is comparable to its original price. However, this is a decrease from a $140,000 sale earlier in the year. Additionally, the last three dual-motor Cybertrucks listed did not meet their reserve prices, with only one reaching a triple-digit figure.

Understanding Depreciation

While the depreciation of the Cybertruck may come as a surprise to some, it is important to remember that most cars, including electric vehicles, experience depreciation. The pandemic has caused prices to drop across various segments, and electric vehicles have been particularly affected. The flashy appearance of the Cybertruck does not exempt it from this trend.