The Cybertruck is totally owning the pre-owned Tesla car market!
Back in 2019, the Cybertruck was supposed to be the game-changer in the truck market. With its bulletproof windows and polarizing design, it was meant to revolutionize the industry. Fast forward to today, and the future doesn’t look so bright for Tesla’s stainless steel pickup truck. The prices of used Cybertrucks have taken a nosedive, dropping by a staggering 30.35% in the last year to an average of $84,027. This downfall is a hard hit for Musk, showing that the Cybertruck failed to capture the mass market.
A Sign of Bigger Troubles
The Cybertruck’s flop is just the tip of the iceberg for Tesla. Data from CarGurus reveals that overall, prices of used Teslas have fallen below the average for the used car market in the U.S. Even the once premium-priced Teslas are now selling at a discount, with owners struggling to find buyers. The impact is widespread, with models like the Model S, Model X, and even the popular Model Y seeing significant price drops in the second-hand market.
The Musk Effect
What’s to blame for this downfall? Look no further than Elon Musk. His controversial political stances and actions have alienated Tesla’s core customer base, leading to global protests and a sharp decline in sales. Musk’s involvement in Trump administration policies and promotion of divisive ideas have tarnished Tesla’s image. While Musk has stepped back from his political role to focus on Tesla, repairing the brand’s reputation will be a long and arduous journey.
The Cybertruck’s plummeting prices are a clear signal of Tesla’s struggles. To bounce back, the company may need to rethink its pricing, marketing, and overall public image. Until then, even the futuristic flagship Cybertruck won’t be able to save Tesla from its fading appeal.
