Tesla Cybertruck sales collapse, company accepts trade-ins with extreme depreciation

Recap: Although the Cybertruck began missing CEO Elon Musk's stated goals as soon as it launched in late 2023, the odd-looking electric pickup truck sold well out of the gate. However, the vehicle's commercial performance has tanked over the last few months. Musk's political activities have soured public opinion on the company and contributed to declining global sales. Multiple signs from the last two quarters indicate that sales of Tesla vehicles are declining more sharply than ever. The company is struggling to sell the Cybertruck in particular, as its perceived value has started to plunge. In the first quarter of 2025, Tesla saw the biggest sales decline in its history. A January report showed that its year-over-year sales fell by half in Europe overall and by 70 percent in Germany despite rising sales of other EV brands. In February, sales dropped by 49 percent in China as the company reported its lowest numbers since 2022. Last month, Chinese EV automaker BYD outsold Tesla in Eu ... Read full article.