Since its announcement, the Tesla Cybertruck has caught the eye of car enthusiasts. As a promise made by Elon Musk, Tesla’s CEO, in 2019, the vehicle was presented as a green replacement for gas-powered pickups. Initially valued at less than $40,000, the Cybertruck combines sustainability, performance, and sophistication in a single, unique model. But an announcement made by Tesla will soon affect drivers.
Cybertruck drivers could be affected by an audacious movement
When purchasing a Cybertruck, buyers can expect a high-performance car with a unique design and special luxuries. The first units were expected to be delivered in 2021, but it was not until 2023 that the first units were presented to customers after Tesla made significant changes.
During the 2023 event, the Tesla Cybertruck was present in three versions for customers. The first one was a single-motor rear-wheel drive valued at $61,000. The second one was the dual-motor all-wheel drive, valued at $80,000. The luxury edition, also known as the Cyberbeast, a tri-motor top-of-the-line model, was available for $100,000 on pre-order. All versions were due for delivery between 2024 and 2025.
Tesla truck status is dropping
But some changes may have made the Cybertruck lose its status as “the car of the future” for a Japanese automotive giant. In August 2024, Tesla announced that the cheapest version of the Cybertruck would no longer be available on pre-order.
Too many Cybertrucks awaiting buyers is a red flag for Tesla
In addition to discontinuing the cheapest version of its Cybertruck, Tesla announced significant changes to the prices of the other models. The dual-motor could be reserved for $100,000, while the tri-motor Cyberbeast price would rise to $120,000. Also, the delivery date for the pre-ordered units may be earlier than expected, which could also be an issue.
According to some specialists, the series of problems faced by Cybertrucks owners may be the major factor in the sudden availability of the units. These problems could motivate buyers to cancel their pre-orders, which is a huge red flag for Tesla.
There’s still a long waiting period for a new model
Also, these issues may be related to the used Cybertrucks on offer by car dealers in the US. Besides the high prices when compared to the value of a new car, the new vehicles still have a long waiting time when compared to a pre-owned one. But can it justify the inflated prices for used Cybertrucks?
Average prices for a used Cybertruck are even higher
With the first Cybertrucks delivered at the end of 2024, some buyers were able to sell their low-mileage Teslas for inflated prices. While the company is selling a new unit for USD$ 100,000 with a delivery date in December, a used one can be bought for $103,000 and delivered immediately.
Besides the high prices when compared to a new vehicle, used Cybertrucks have something that the new ones do not have: they are available quickly. For many sellers, availability is the major factor for the high prices, and if the vehicles have low mileage of between 400 and 800 miles, they can be considered virtually new.
Experts have little positive news about Cybertruck market performance
Brooke Crothers said in an article published by Forbes that the prices will remain elevated since buyers are still buying. This combination of factors could directly affect Tesla consumers, who were previously able to acquire the vehicles for less than the estimated sale price of the same model on the used car market.
Besides the low pre-orders representing a red flag for the company, Tesla is still fighting for the top spot in a market that features powerful, sustainable vehicles. However, to consolidate its leadership position, Elon Musk’s company is facing strong competition, especially in the European automotive market, where another hypercar is about to be released.