Nobody wants to pay over $200,000 for a Cybertruck anymore.
Just a few weeks back, the Tesla Cybertruck was selling like hotcakes, often going for double, sometimes even triple, above sticker price in the blink of an eye. It seemed like anyone lucky enough to snag one of these electric beasts early on could flip it for a hefty profit. But fast forward to now; it looks like the Cybertruck’s resale bubble has finally burst.
Tesla, not thrilled with folks treating their futuristic pickup like a quick cash grab, laid down the law with a “no resell” clause specifically for those early VIN Cybertrucks. It basically said, “Try to flip your truck within the first year, and you could owe us $50,000. Oh, and we might just stop selling you cars altogether.” While there’s no word on Tesla dragging anyone to court over this, it has definitely blacklisted some sellers for even attempting to sell their trucks.
Despite Tesla’s crackdown, for a minute, it looked like the high resale prices were here to stay. There was that one Cybertruck that went for a whopping $244,000 just last month. But since then, prices have been tumbling down faster than a lead balloon, making it tough for sellers to turn the profit they were dreaming of.
In fact, a recent attempt to sell one at a Cars & Bids auction painted a pretty stark picture. The Cybertruck in question decked out with all the trimmings and barely any miles on the clock, managed to drum up a bid of $158,000. That bid didn’t even come close to the seller’s reserve, meaning the auction was a flop.
John Clay Wolfe, the big cheese at GIVE ME THE VIN and a key player in the Cybertruck resale game, has been watching the market dip in real time. Just a couple of weeks ago, his team managed to sell a couple of Cybertrucks for just shy of $200,000 each. But then, one went for $175,000 and another for $171,000, signaling a pretty clear trend: down, down, down.
Even the celebs aren’t immune to sticker shock. A reseller posted a vid trying to convince Ji’Ayir Brown from the San Francisco 49ers to drop $230,000 on a Cybertruck. They even knocked the price down to $220,000, but no dice. Brown’s team wasn’t having any of it. Seems like the days of making bank on a barely driven Cybertruck are winding down.
Let’s face it, the Cybertruck might be as novel as they come, but with Tesla planning to pump out a quarter-million of these trucks every year, they’re not exactly going to be rare gems. And sure, there are plenty of folks still holding out for their chance to get behind the wheel of one, especially those more wallet-friendly models. But the frenzy to pay top dollar for early access? That’s cooling off as fast as this truck hitting 60 mph.
In the end, the Cybertruck, for all its hype and glory, is settling into the market like any other vehicle. The initial buzz of paying a premium to be the first on the block with one is fading as buyers realize they might just be better off waiting their turn. After all, patience is a virtue, especially when it could save you a cool hundred grand.
