Folks who shelled out to buy Elon Musk's ugliest electric car are in for an upset should they try to sell or trade in those Cybertrucks.

As flagged by Gizmodo, the CarGurus vehicle marketplace and analytics firm found that over the last year, the value of a used Cybertruck has plummeted more than 30 percent, to an average of roughly $84,000.

And with recent price cuts putting the Long Range Cybertruck, Tesla's entry-level version of its matte steel monstrosity, at just under $70,000, any potential buyers could just grab a brand new one instead.

Add that to how shoddily made these electric geometric behemoths have proven to be since their late 2023 launch, and any Cybertruck drivers with buyer's remorse find themselves in a cruel bind: hang onto their lemon as it devalues further, or lose a bundle trying to unload it.

Indeed, in an "as-told-to" editorial from April of this year, luxury car dealer George Saliba told Business Insider that he had been shocked to watch the resale value of Cybertrucks plummet so significantly in the 16 months since it had been released.

Whereas "athletes, famous people," and general status-seekers used to be the ones buying the Tesla trucks from his New Jersey dealership, Saliba said that as of this past spring, it felt like he could not "sell a Cybertruck to save my life."

"People started giving me middle fingers," the car dealer detailed. "My friend called me and said, 'I gotta sell my Cybertruck. Someone just threw a rock at me while I was driving, my kids were in the backseat.'"

That same month, a YouTuber who goes by the handle "Dirty Tesla" posted on X that he was furious to find that his Cybertruck was valued at only $54,000, down nearly 50 percent from what he paid for it. In response, the person running the Cybertruck account — we can't help but wonder if it might be the company's boorish CEO, Elon Musk — attempted to make a joke of the whole thing.

"One more post like this," the account responded, "and you will be getting $0 when I do an Irish exit in the middle of the night."

Adding insult to injury, the Cybertruck's shoddy resale value seems to be a reflection, Giz notes, of just how poorly America's most unpopular car has performed in new sales.

In its most recent report, Cox Automotive's Kelley Blue Book found that Cybertruck sales were down nearly 51 percent year-over-year from the second quarter in 2024 — and with only about 4,300 selling in Q2 of this year, those figures are pretty bad indeed.

Naturally, this problem isn't exclusive to Cybertrucks.

In that same CarGurus data, Tesla values were down 13.56 percent year-over-year to roughly $28,000. What's worse: in the last three months alone, the Musk-owned EV company's value has dropped 4.3 percent, bringing the cars from just under $29,000 to its current low hovering around the $28K-mark.

As usual, one can take their pick of reasons why Cybertrucks are selling for so cheap. Is it the many, many headlines about how often the cars malfunction and fall apart? Is it the Tesla owner's ever-decreasing popularity? Or might people simply be buying cars less as we continue to hurdle headlong into a recession that Musk and his erstwhile boss stoked from the very start of this year?

More on Cybertrucks: The Air Force Says It Needs to Buy Some Cybertrucks So It Can Blow Them Up With Missiles


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