Tesla Is So Cooked That It's Now Refusing to Accept Cybertrucks as Trade-Ins

Embattled carmaker Tesla is sitting on almost 2,400 unsold Cybertrucks, worth roughly $200 million. It's a harsh reality check. According to its latest — and eighth — recall issued last month, the carmaker has only sold around 46,000 of the divisive pickup trucks so far, despite a $7,500 tax credit. That's a far cry from the over 1 million pre-orders the company gloated over years ago. And those currently in possession of one are often struggling to get rid of them. As Electrek reports, Tesla is refusing to accept its own Cybertrucks as trade-ins, due to a massive backlog. That's bound to sting, as used Cybertruck prices have fallen off a cliff, down 55 percent year over year. Some owners are reportedly being forced to go through the Lemon Law process, which some states have implemented to protect car buyers by requiring carmakers to repurchase or replace vehicles with significant defects. The Cybertruck, which Musk has previously claimed should be able to float in water and eventu ... Read full article.