TESLA IN FREEFALL! Once Hailed by Musk as ‘Rising Asset,’ Electric Cars Now Plummet in Price No Brakes in Sight! ON What’s Behind the Shocking Drop? Investors Panic, Drivers Celebrate Is This the End of Tesla’s Golden Era? Find Out What’s Really Happening!
Electric car company Tesla accepted to buy back the used Cybertruck for the first time, but the price was only $65,000 for the $100,000 pickup after a year of use, surprising many people.
The Cybertruck series with an impressive design but also does not escape the damp scene in the market – Photo: AFP According to the Independent newspaper on May 19, billionaire Elon Musk’s Tesla electric car company has begun accepting the purchase of a used Cybertruck electric pickup model, the first time since this car was launched on the market. However, the price offered by the company is surprising many car owners: only $65,000 for a Cybertruck that was sold for $100,000 in 2024 and has only run about 10,000km.
The 35 percent depreciation for a one-year-old vehicle – shared by a member of the Cybertruck Owners Club forum is the depreciation that the average pickup typically takes after five years of use. Electrek, a news site specializing in electric vehicles, called this purchase “crazy”, showing clear signs that the Cybertruck line is failing commercially.
This reality is completely different from the statements of car boss Elon Musk said earlier, when affirming that Tesla models will increase in value over time. “If you buy a car now, it becomes an investment in the future. I believe the most remarkable thing is that if you buy a Tesla today, you’re buying an asset that is rising in price – not an asset that is depreciating,” he said on the Lex Fridman podcast in 2019.
Cybertruck’s shocking price slip also reflects the oversupply of this model, as its inventory is said to have reached a record 10,000 units this month. According to data from the Tesla-info.com site, there are many Cybertrucks that are still in Tesla’s warehouse and have not yet been purchased, with a total estimated value of up to $800 million.
The decline in demand for Cybertruck also reflects Tesla’s dismal development globally. In the UK, Tesla’s car sales fell by more than 50% in April. In Europe, according to the Association of European Automobile Manufacturers, Tesla’s sales also fell by 45% in the first quarter of the year, although sales of full electric vehicles in the EU in the same period increased by 23.9%.
Tesla’s decline is said to stem from increasingly fierce competitive pressure from rivals such as Ford, GM and BYD, along with the controversial personal image of CEO Elon Musk – who once played a key role in President Trump’s administration and often appears next to the president.
Not long ago, Mr. Musk announced that he would significantly cut time for political activities to focus on his business.
Billionaire Elon Musk announced that he would significantly reduce the time spent by President Trump’s administration to focus on running the business, which has been in decline since the beginning of the year.
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