Tesla's Cybertruck was worth more than twice as much on the resale market just a few weeks ago, but now electric pickup trucks have completely lost ground in terms of resale value.
The automaker has taken steps to try to limit the Cybertruck's resale market.
Tesla added a “do not resell” clause to early VIN Cybertrucks, threatening to sue for $50,000 (or more) and adding that it may not sell future vehicles to sellers. Ta.
As far as we know, the company hasn't sued anyone yet, but we recently learned that Tesla blacklisted some people who sold or tried to sell early Cybertrucks. .
We believed that these measures would limit sales of the Cybertruck and drive up its price.
Sure enough, we noted that an early Cybertruck sold for $244,000 last month, but prices have now fallen like a rock.
Resellers are currently having trouble making a profit.
John Clay Wolfe, president of major auto wholesaler GIVE ME THE VIN and one of the key figures in Cybertruck resale, says the market for Cybertrucks is in decline. .
Wolf said his company sold two Cybertrucks two weeks ago for $195,500 and $189,000.
Last week, he sold one for $175,000 and earlier this week he sold one for $171,000.
Mr. Wolf commented:
“So for those who are paying attention, the Cybertruck market continues to decline.”
Interestingly, a reseller recently posted a video of San Francisco 49ers safety Ziair Brown coming for sale for $230,000.
The reseller's price dropped to $220,000, but Brown's business associates quickly shot down that idea.
The Cybertruck currently up for auction on Cars and Bids has also been sitting at $155,000 for some time.
With just over 20 hours until bidding, there's still a chance it could go higher, but recent prices will make it more difficult.
Electrek's view
Apparently a few people were able to make decent pay flipping Cybertrucks, but it didn't last long.
These prices often require taxes and intermediaries, which makes them even more difficult.
Not that surprising considering the Cybertruck isn't a collector's item. Tesla currently plans to produce 250,000 Cybertrucks per year, so it will eventually become a somewhat common vehicle.
Although it's a lower-priced trim, it still has a lot of pre-orderers, and since it's such a novelty at the moment, it's understandable that some people will pay a premium to get it sooner, but it looks like that pool is People are already exhausted.
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