Love it or loathe it, it’s impossible not to admit that the Cybertruck is an expensive beast that the most trendsetting individuals will go to great lengths to get. Celebrities like Kim Kardashian and Lady Gaga have been seen in them. One football superstar was famously advised not to spend double the MSRP on a used one. Turns out that was likely a wise idea, as multiple reports show that Cybertruck wholesale prices are dropping.
Get Fully Charged
Used Tesla Cybertruck prices are very high
Despite a no-sales clause in early Cybertruck owner contracts, used examples have regularly appeared for sale for sometimes more than double the MSRP. Yet, that doesn’t seem to be holding. Values are steadily marching downward.
According to several sources, including Teslarati, Cybertruck prices are falling somewhat fast. As recently as February 29th, Cybertruck auction results made headlines, as one went for as high as $244,000, to an Atlanta-area Porsche dealer that reportedly put it on its lot for $300,000. John Clay Wolfe owner of Give Me The Vin, a vehicle wholesaler, has noticed the drop. Last week, one Cybertruck unit went for $175,000. This week, another Cybertruck unit went for $171,000, a sizable drop from the week before.
Some have asserted that Cybertruck prices will eventually collapse, but that’s probably too strong of a term here. These Cybertrucks are still inflated well over MSRP, a top-of-the-line Cybertruck Cyberbeast is in the ballpark of $122,000. It’s silly to say that a vehicle in which its owners are actively circumventing a no-sale or flipping clause and where they’re still getting more than 50% over its true value is a “collapse.” But, it does show that Cybertruck pricing is falling to sane levels fairly quickly. Hopefully, for Cybertruck owners’ sake, this truck won’t be vulnerable to the same abysmal resale values as the rest of Tesla’s lineup.
From this small sample size between late February to mid-March, Cybertruck wholesale prices have dropped from $244,000 to $171,000, a 70% loss. If this trend continues to move downward, Cybertruck wholesale numbers could be at or below MSRP before the summer. Regardless, as Tesla ramps up Cybertruck production and more trucks find their way to roads resale will naturally return to reasonable levels. Just this week, a dual-motor Foundation Series Cybertruck listed on Cars & Bids ended bidding at $158,000 and did not meet its reserve price. Ouch.
If you’re a Cybertruck owner looking to flip for a profit, it might be a wise idea to sell sooner rather than later.
Contact the author: [email protected]
Read the full article here
