Tesla Begins Accepting Cybertruck Trade-Ins, Revealing 34.6% Depreciation in One Year

Since production and delivery began in late 2023, Tesla’s Cybertruck has underperformed in the market. The vehicle not only carries a significantly higher price tag than originally announced but has also failed to meet its advertised performance benchmarks. Despite Tesla’s claims of over 1 million preorders, only about 40,000 customers ultimately placed firm orders. The Cybertruck now faces severe inventory backlog, remaining unsold for months and forcing Tesla to resort to steep price cuts to boost sales.

Previously, Tesla refused to accept Cybertrucks as trade-ins for over a year after deliveries began, without providing a clear explanation. Analysts speculated that the company recognized the vehicle’s rapid depreciation and feared exacerbating inventory challenges by accepting trade-ins.

Now, Tesla has finally started offering trade-in valuations for Cybertrucks, at least for the Foundation Series models. According to the Cybertruck Owners Club, a brand-new 2024 Cybertruck AWD Foundation Series—originally priced at 100,000(approx.¥721,000 RMB at currentex changerates)—receivedatrade−in appraisalof just100,000(approx.¥721,000 RMB at currentex changerates)—receivedatrade−in appraisal of just 65,400 (approx. ¥471,000 RMB) after being driven only 6,000 miles (~9,656 km). This marks a staggering 34.6% depreciation in just one year.

By comparison, traditional pickup trucks typically depreciate around 20% in the first year and reach 34% depreciation only after 3–4 years. Notably, Tesla’s online “trade-in estimates” often exceed the final purchase price offered, suggesting the actual depreciation could be even steeper.

Key Issues Highlighted:

• Overhyped Demand: Massive gap between preorder claims (1M+) and actual conversions (~40k).
• Pricing Missteps: Foundation Series models priced far above initial promises ($39,900 for base trim).
• Performance Concerns: Reports of mechanical flaws and unmet range/durability promises.

This move underscores Tesla’s struggle to stabilize Cybertruck’s market position as skepticism grows over its long-term viability and resale value.