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Tesla opened Cybertruck trade-ins, and the numbers aren’t pretty
(techcrunch.com)
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this post was submitted on 26 May 2025
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Numbers look normal to me, are other cars retaining more percentage of their sale price nowadays?
I remember when all cars lost half their value as trade ins when you drove them off the lot, since that is how economics work.
The issue isn't the numbers. The issue is that Musk previously claimed Teslas would retain value and would even gain value with new releases of auto pilot. With these expectations in mind, the numbers must look abyssal to Tesla fans.
According to Elon everyone who bought a Tesla is now kicking back with their heels up as their car is now a fully autonomous taxi that can generate passive income 24/7
The only times I have seen vehicles appreciate in value has been: Collectors and Covid. I could have sold my car for the price I paid for it years before in Dec 2020, which is absolute nonsense.
Private sales of early Prius models were higher than new back when supply massively outweighed demand. Trade ins not so much.
That very short time during covid qas due to supply being disrupted and dealerships couldn't sell new for over MSRP but could sell used for higher.
generally cars loose 50% of their value over 5 year term.
luxury vehicles lose value faster, trucks slower
cybertruck is a vanity car, so it is more of a luxury product here. still pretty a steep depreciate for 2 years of miles for 1yo vehicle tho
the bigger issue here is the demand tbh
Correct analysis, exactly right.
The purely utilitarian value of a vehicle (transporting people, moving cargo) decreases over time as its expected remaining life decreases, which should more or less be linear in time. Transferrable warranties change this slightly.
In contrast, the aesthetic value can change very rapidly, if it is based on things like not having a prior owner, clout, aesthetic defects (minor scratches). These aesthetic factors are not tied to usable life really at all.
People paying $120k for a cybertruck are most likely placing higher weight to its aesthetic value than purely utilitarian value, so we would expect faster depreciation than for a work truck where almost all the weight is placed on pure utility.
That being said, "being associated with an egotistical bully destroying our government" probably affects aesthetic value to some degree.
My 5 year old Hyundai was sold to a dealer at 50% loss a year ago. Had around 100,000 km on it.
Hell, I have a Toyota about 8 years old and it still hasn't dropped below 50%. I bought it for like $28k and it's at 65k miles, and I keep getting offers for like $15-16k.
It's almost like consumers like vehicles that don't fall apart when you sneeze on them
we're in a really weird time now for auto sales, especially used ones. the production dip caused by covid has now passed though the sales market into the resales market. and now we have tariff and other economic speedbumps coming. shit's gonna be weird for a while