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The used Tesla Cybertruck market is facing a sharp price decline, with average prices dropping to $117,000 in September 2024. As Tesla finalizes delivery dates for new models, the once-high demand for used trucks is slowing significantly.
Used Tesla Cybertruck Prices Drop in September 2024
At the start of the year, prices in the US used Cybertruck market went absolutely bonkers, with some vendors asking over $200,000 for the first batch of Tesla pickups.
The average price for a used Cybertruck reached roughly $185,000 in early April, according to Forbes. That market, however, is rapidly declining. The online vehicle marketplace CarGurus reports that, as of September 2024, the going rate for a pre-owned Cybertruck is close to $117,000.
"As early buzz around the model and limited availability helped to boost the initial secondary market prices," Kevin Roberts, director of industry insights and analytics at CarGurus, told me, explaining that prices remained high due to the forces of supply and demand.
Clearer Tesla Delivery Dates Drive Down Used Cybertruck Prices
There is no longer a need to satisfy pent-up demand in the secondhand Cybertruck market. Also, Tesla no longer uses vague delivery dates for Cybertrucks purchased directly from the company. For instance, Tesla clearly states the delivery window of September to October 2024 for a Cybertruck All Wheel Drive that costs $99,990 when ordered today.
Having said that, the market has not yet received the promised affordable Cybertruck.
Entry-Level Cybertruck Unlikely to Hit $39,000 Price Tag
For example, a new rear-wheel drive model was featured on Tesla's website for $60,990 and was expected to be available in 2025. That update was withdrawn on the 10th of August weekend. The original $39,900 price tag for the truck was also scrapped by CEO Elon Musk in 2021.
The editor of vehicle testing for U.S. News & World Report, Zach Doell, says:
"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."
What about the Cybertruck, which costs $39,000?
"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," he stated.
