When the Tesla Cybertruck hit the market, the enthusiasm for owning one and the extremely long delivery times that Tesla gave due to the huge pent-up demand for this model caused its price on the second-hand market to skyrocket.
Less than a year later, Tesla offers much shorter delivery times, so the prices of used Tesla Cybertrucks have plummeted.
It costs almost $70,000 less, on average, than it did a few months ago
The Tesla Cybertruck went on sale at the end of 2023, several years late, but Elon Musk made good use of the time because he continued to generate expectations while his electric car brand repeatedly delayed the launch of this pickup truck.
Added to these delays and the enormous hype that had been created when the Cybertruck finally went on sale were Tesla’s production forecasts, which assured that it would manufacture just over 120,000 units per year and, at most, double that in the following years. With these numbers, it would take 10 years to deliver the more than two million Cybertrucks that the brand’s customers had reserved before its launch.
It was the perfect cocktail for speculation. As soon as it hit the market, the Tesla Cybertruck bubble began to skyrocket: the hype kept growing and everyone wanted one, but the waiting list to buy a new one was so long that some preferred to turn to the second-hand market and buy a second-hand one.
Sellers took advantage and raised prices, even though Tesla tried to slow the speculation from the very beginning with a clause in the contract for the purchase of the pickup truck: if the Cybertruck is sold before a year has passed, the seller is exposed to a penalty of 50,000 dollars and risks Tesla never selling him another car.
It didn’t matter, there were people who paid close to 250,000 dollars for a Cybertruck on the second-hand market and we even saw units for sale for 290,000 euros, when their starting price was new. It is $93,990 in the United States.
The problem that the most impatient had a few months ago is that, if they tried to buy it new at that price, Tesla gave them delivery times that were incompatible with their impatienceBut the situation has changed dramatically in recent months, so much so that if you order a Tesla Cybertruck today, Tesla will deliver it to you this month or, at the latest, in October. “Right now Tesla has a large inventory of two- and three-motor units,” he told Reuters Sam Abuelsamid, analista de Guidehouse Insights.
That has directly affected the price bubble for used Cybertrucks. Not only has it burst, but it has not stopped falling. At the beginning of last April, the average price of a used Cybertruck was about $185,000. Right now, its price is average price is about $117,000as indicated Forbes with data from CarGurus.
It’s not that the initial enthusiasm for owning a Cybertruck has faded, in fact, it is the best-selling electric pickup truck in the United States, and there are even such unusual cases as a broken Cybertruck becoming a pilgrimage point. It is simply a question of supply and demand:The second-hand market is no longer the solution to cover pent-up demand because Tesla itself can do it.
And the price of second-hand Cybertrucks still has to fall further, at least in the United States and in markets where it can be purchased directly from Tesla, because it is no longer worth paying more than what it costs new when the delivery time given by the brand itself is so fast.
Of course, everything depends on what Tesla does with its pricing policy and, as we have seen on several occasions, the American brand changes its rates overnight, either to lower them or to raise them.
For now, Elon Musk promised years ago that he would sell his electric pickup truck for $39,900 and that entry-level version has not yet reached the market; a few months ago, Tesla’s website announced a basic variant of a single engine that would be available in 2025 from $60,990, but now there is no trace of that version on the brand’s website.
This has also caused demand is reduced because many people were waiting to buy a cheaper Cybertruck and that model doesn’t seem to be coming. Or at least it still has no release date.
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Source: www.motorpasion.com
