Tesla Cybertruck Price Drop
After Tesla Cybertruck deliveries to customers began at the end of 2023, demand for this model was extremely high, leading to a sharp increase in prices on the used market. However, as often happens, prices quickly began to fall, and now they can be so low that it’s hard to imagine. A striking example is this 2024 Cybertruck, which recently failed to find a buyer at a Bring a Trailer auction.
Undeserved Livery
The first thing that catches your eye about this Cybertruck is the Gulf Racing livery. The blue-and-orange theme is one of the most iconic in motorsport history, having previously adorned legendary race cars such as the McLaren F1 GTR, Porsche 917, and Ford GT40. It looks great on supercars, but on the Cybertruck, this livery seems completely inappropriate. Furthermore, Gulf is an oil company, so placing its logo on an electric vehicle looks as mismatched as a meat restaurant’s sponsorship at a vegan festival.
The King of Depreciation
Although the aftermarket wrap looks a bit odd, this Cybertruck is the flagship Cyberbeast tri-motor model, which had a starting price of $105,485. Considering the car has only driven 2,200 miles (3,540 km) and had a clean title from Montana, it is shocking that the bids reached only $76,500.
This is an extremely high level of depreciation, even by Tesla’s standards. The highest bid was almost $29,000 below the starting price, which amounts to approximately $13 lost for every mile driven. If you factor in the $10,000 spent on the wrap, the seller lost almost $40,000 in less than a year.
Speed Didn’t Save the Situation
Although the Cybertruck is a controversial model, like its CEO Elon Musk, it cannot be denied that the Cyberbeast is a very fast car. Thanks to its three electric motors, it develops 845 horsepower, allowing it to accelerate to 60 mph (96 km/h) in 2.6 seconds. However, even such performance and motorsport-inspired livery could not convince anyone to buy this Tesla.
This case illustrates how quickly the market value of even the most anticipated cars can change. The drop in Cybertruck prices may be due not only to its controversial design but also to general trends in the electric vehicle market, where initial hype is often replaced by a more realistic assessment. Furthermore, the mismatch between the brand’s image and the chosen wrap style may have played a role in the lack of buyer interest.