Used Tesla Cybertruck prices have been on a rollercoaster ride this year, but they’re now heading south fast. After peaking at around $185,000 in early April, the average price for a used Cybertruck has dropped to about $117,000 as of September 2024, according to CarGurus, a car shopping website. This shift comes as Tesla ramps up availability of new Cybertrucks, making the used market less necessary to meet pent-up demand.

The Initial Hype and Price Surge

The early buzz around the Cybertruck model and its limited availability drove up prices in the secondary market.

According to Forbes, Kevin Roberts, director of industry insights and analytics at CarGurus, explained:

“The forces of supply and demand kept prices high as early buzz around the model and limited availability helped to boost the initial secondary market prices.”

Steady Decline in Used Cybertruck Prices

The used Cybertruck market has seen a steady decline in prices, approaching parity with new Cybertrucks ready to ship. The market is no longer necessary to meet pent-up demand, and Cybertrucks ordered directly from Tesla now have clear delivery windows.

For instance, ordering a $99,990 Cybertruck All Wheel Drive today gives a delivery window of Sep – Oct 2024, while the $119,990 Cyberbeast has an estimated delivery of Oct – Dec 2024.

The Elusive Low-Cost Cybertruck

Despite the price drops, the market is still waiting for the promised low-cost Cybertruck. A new rear-wheel drive model was listed for 2025 availability on Tesla’s website for $60,990 but was removed in August. CEO Elon Musk had initially promised a $39,900 version of the truck, but that was dropped back in 2021.

Tesla Cybertruck Prices Plummet As New Models Hit The Market

Zach Doell, U.S. News & World Report vehicle testing editor, advises prospective buyers to keep an eye on the Tesla Cybertruck web page.

“Tesla has a tendency to adjust these prices with short notice, so prospective buyers should keep an eye on their site for the latest developments,” he reportedly said. Regarding the $39,000 Cybertruck, Doell added, “It’s possible that we’ll see a lower cost, truly entry-level Cybertruck at some point, but I doubt it’ll cost anywhere near the $39,000 that was originally announced back in 2019.”

EVXL’s Take

The fluctuating prices of the Tesla Cybertruck highlight the dynamic nature of the EV market. As Tesla continues to ramp up production and meet demand, we’re seeing a more stable and accessible market for electric vehicles. This trend is a positive sign for the broader adoption of EVs, making them more affordable and accessible to a wider range of consumers.

However, recent developments suggest that the Cybertruck’s journey is far from over. As we reported earlier, Tesla faces significant challenges in ramping up Cybertruck production, with Elon Musk describing car manufacturing as a “production hell.” These production hurdles could potentially impact future pricing and availability. Additionally, while the Cybertruck offers unique features, it faces stiff competition in the electric pickup market.

This competitive landscape may influence Tesla’s pricing strategy moving forward, potentially leading to more affordable options to maintain market share.

As the EV market continues to evolve, we’ll be closely monitoring these developments and their impact on consumers and the industry as a whole. The Cybertruck’s journey serves as a microcosm of the broader challenges and opportunities in the electric vehicle sector.

What are your thoughts on the changing prices of the Tesla Cybertruck? Leave your comments below!

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