Tesla’s Cybertruck is officially a flop

We’ve known since launch that the Cybertruck is a flop. Sales have been residual after they peaked at 5,175 units registered in July 2024, gradually falling to just 2,000 units sold in April 2025. The dip has been so deep that the Boring Company would have a hard time reaching the bottom of its sales chart pit, which has totaled 46,000 units since production started in late 2023.

Now we have learned that things are getting worse for Cybertruck owners: The Cybertruck has depreciated by 45% after only one year, according to Car Guru. The depreciation is so bad that Tesla wasn’t accepting its own children as trade-ins until three days ago, as the Cybertruck Owners Club found out.

According to an estimate obtained in Tesla’s app by an owner, a $100,000 AWD Foundation Series with about 6,200 miles on the odometer is now worth $65,400. That’s a 34.6% drop in its value in just one year (on average, cars depreciate around 30% in the first two years). Worse, as Electrek points out, “it’s also worth nothing that Tesla’s online ‘trade-in estimates’ are often higher than the final offer.”

The reason may be as simple as the fact that few people want a Cybertruck. We have reported on its many design and quality failures: Doors that sever fingers, a gas pedal that can cause uncontrollable acceleration, falling trim pieces that can cause accidents. Those are just a few examples in a seemingly never-ending timeline of problems that has resulted in eight recalls since its debut.

Surprise! It depreciates

This polygonal nightmare is flailing, and it should come as no big surprise. There were signs of what is happening now back in May 2024, when the price of secondhand Cybertrucks cratered a few months after initial hype and limited production drove up the truck’s resell price to double or triple its original $102,235 price tag. This tracks Tesla’s own stock, which has been similarly inflated with a price-to-earnings ratio of 188.13 as of May 19, meaning that the company’s share price trades at 188.13 times its earnings per share. For comparison, BYD—the leading EV manufacturer in the world—has a PE ratio of 27.67.

As Tesla increased the production volume, the demand began to fall fast, leading to unsold inventory and forced production slowdowns that left assembly lines empty, with workers taking leave or doing other tasks. Demand was so low that used car dealers reduced purchases, contributing to the rapid depreciation.

Musk once claimed that Tesla cars would increase in value, which turned out to be false. Like nearly every other car on the planet except collector pieces, Tesla’s cars have depreciated in value. But the regular depreciation has now accelerated for the entire brand. Tesla Model 3 and Model Y vehicles experienced the most significant depreciation among the top 200 car models in 2024.

Tesla experienced a 71% decline in net income and a 13% drop in EV sales in Q1 2025. The company is facing a critical moment due to stagnant design, outdated technology, and declining sales. The Cybertruck is the epitome of this problem. My prediction? Soon there will be a few thousands of these hideous trucks in an underground parking lot with no exit. A new Musk grave with a big tax write-off sign on the front.

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