The resale market for electric vehicles is proving especially brutal, sometimes more than expected for the unfortunate ones who have to sell, and the story of a 2024 Tesla Cybertruck Foundation Series highlights this reality.
A California owner who purchased the futuristic pickup for over $102,000 in March 2024 tried to auction it off after logging just 800 miles. They are not many, in fact they are almost nothing when looking for a used vehicle. The outcome? Not a single bid exceeded $69,500, falling far short of expectations. This particular Cybertruck, finished in stainless steel with an all-black cabin, came well-equipped with 20-inch wheels, a panoramic glass roof, heated and ventilated front seats, and a 15-speaker premium sound system.
Despite its flawless condition, clean history, recent inspection, and minimal mileage, the demand simply wasn’t there. The Cybertruck was listed on Cars & Bids, where it attracted only 24 bids. The highest offer reached $69,420, but since it didn’t meet the reserve price, the auction ended without a sale.
The steep depreciation isn’t unique to Tesla. Many EVs face the same fate. For example, a 2023 BMW i7 xDrive60, purchased new for nearly $132,000, resold a couple of years later for just under $58,000. Similarly, a Ford Mustang Mach-E, initially priced at $72,590, was valued at barely $31,000 two years down the line.
Meanwhile, Tesla has reshaped its Cybertruck lineup. The Long Range rear-wheel drive model, launched in April 2024 at $69,990, disappeared from Tesla’s website just six months later. Now, buyers can only choose between the all-wheel drive version at $79,990 and the top-tier Cyberbeast, whose price was recently bumped to $114,990, nearly $15,000 higher than before.
The failed auction underscores a key reality: even a hyped vehicle like the Cybertruck, marketed as a symbol of futuristic engineering, can shed value faster than anticipated. For EV owners, the resale challenge is not a joke, is very real.
