The Tesla Cybertruck was supposed to be the future. Unveiled in a now-infamous 2019 event where its supposedly “bulletproof” windows shattered on stage, the sci-fi pickup, with its polarizing stainless-steel design, was hyped by CEO Elon Musk as an indestructible vehicle that would completely disrupt the lucrative truck market.
Today, that future looks like a commercial flop. Prices for used Cybertrucks are in a freefall, a stunning collapse that has become the most visible symbol of the deep and growing crisis at Tesla.
According to new data from the auto marketplace CarGurus, the average price of a used Cybertruck has plunged a staggering 30.35% in the last year, now hovering around $84,027. This dizzying drop for what was once one of the most anticipated vehicles in history is a major blow for Musk, confirming that the Cybertruck has failed to find a mainstream audience.
The collapse in the used market mirrors its disastrous performance in the new market. In the second quarter of this year, Tesla sold only 4,306 Cybertrucks, a 50.8% decrease compared to the same period in 2024, according to data from Cox Automotive Kelley Blue Book.
A Brand-Wide Collapse
The Cybertruck’s failure is the leading edge of a much larger problem for the company. The same CarGurus data reveals that used Tesla prices as a whole have now plummeted below the average for the entire U.S. used car market.
As of early August, the average price for all used vehicles in the U.S. was $28,048. The average price of a used Tesla was just $27,852, down a steep 14% year-over-year. This is a shocking development for a brand that has always commanded a premium price, especially since the market average includes budget cars. It shows a fundamental imbalance: a growing number of owners are looking to offload their Teslas, but fewer buyers are willing to step in.
The damage is brand-wide. The average used price of a Model S is down nearly 23% year-over-year. The Model X luxury SUV is down almost 16%. Even the Model Y, the world’s best-selling electric vehicle, has seen its used price drop nearly 12%.
The Musk Factor
So, what happened? The answer lies with the company’s once-infallible CEO. Elon Musk’s increasingly controversial political actions have alienated the core of Tesla’s original customer base: environmentally conscious, liberal-leaning buyers.
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