Cybertruck graveyards resulting in trade-in denials, owners claim
Tesla is said to have stopped accepting trade-ins for its Cybertruck as nearly 2,400 vehicles, amounting to approximately $200 million, continue to be unsold. Earlier in July 2023, the company announced it had accumulated 1,943,876 reservations for the Cybertruck, translating to more than $194 million in potential preorder earnings. According to reports, this information has been disclosed. Teslarati Cybertruck buyers say dealerships won't accept trades due to an excess inventory and reduced demand. Meanwhile, those who have had their vehicles in extended servicing are advised to explore the lemon laws as a way to dispose of their cars. Electrek reports.
The peak for Cybertruck sales was reached at 5,308 units per month in September; however, they've significantly declined since then. To decrease prices by $20,000 through a promotional strategy, Tesla unexpectedly took off the special edition Foundation Series emblems earlier than planned. By January, these limited editions were completely removed from their inventory list, closing direct ordering options. Before ceasing orders, approximately 25,000 of these initial model Cybertrucks had been sold within the U.S. Resale figures show an abrupt drop: over the course of one year, resell values plunged by 55%, followed by a further decline of 13% in just the last quarter, and another reduction of 6% during the most recent month alone. The Economic Times Cybertruck owner Kumait Jaroje from Worcester, Massachusetts, stated that both he and his family encounter constant harassment due to their choice of vehicle, which has led him to consider trading it in. Torque News Jaroje stated, "I attempted to trade in the truck due to that [harassment], however, Tesla refused saying they wouldn’t take it!"
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Jaroje also stated: "My spouse absolutely won’t have anything to do with the Cybertruck. While disagreeing with Elon Musk or even Donald Trump might be acceptable, targeting a family because of their choice of vehicle is entirely out of line." Tesla has just experienced its poorest quarter in corporate history, and it's somewhat ironic considering the present challenges faced when attempting to trade in the Cybertruck. Tesla trade-ins reached an all-time peak in March. Teslas manufactured in 2017 or later accounted for 1.4% of all vehicle trade-ins up to March 15th, marking a 0.4% rise compared to the previous year—the largest percentage they've ever reached. The interest in purchasing new Teslas via Edmunds decreased to its lowest point since October 2022 during February, following a high in November. In cases where an individual owns a Cybertruck currently undergoing service issues and wishes to invoke the lemon law, these regulations can differ greatly depending on the state. Typically, this process includes proving that the car has a flaw which severely affects its performance, usability, or worthiness. Subsequently, Tesla must fail to fix the issue despite making several attempts within a suitable period before customers can submit claims according to their respective states' lemon laws.
Final thoughts
If you thought conditions couldn't worsen for the Cybertruck—Tesla eliminated the vehicle's extended-range option this past weekend, stating through their online configurator that it now offers up to 445 miles per charge. Initially, Tesla had advertised the Cybertruck’s optional range extender, priced at $16,000, as capable of boosting its mileage to 470 miles; however, they revised this estimate downward to 445 miles in 2024. These figures still fall short compared to the more than 500 miles originally pledged by Tesla back in 2019 for the three-engine version of the Cybertruck. Currently, customers can place orders for a variant offering only 325 miles on a single charge. Should Tesla decide definitively to remove the extended-range feature—which might entail updating both the configurator and the specifications page on their site—the reduced availability may well sustain the sluggish pace of Cybertruck sales observed so far. Solusikaki attempted contacting Tesla for clarification yet received no prompt reply.