Initially, Tesla promised no trade-ins for Cybertruck deliveries, but changed course after disappointing sales results. With only about 40,000 actual orders from over one million reservations, the value of traded-in Cybertrucks has greatly decreased. Reports indicate a 34.6% depreciation in just one year for some models. This decline is attributed to overproduction and quality issues, including recalls related to adhesive problems. Despite these challenges, CEO Elon Musk remains optimistic about the company's future, citing strong stock performance as an indicator of success.
The newly announced trade-in program offers a bleak picture for Cybertruck owners when it comes to trade-in value.
Elecktrek blames the steep dropoff in value on overproduction... and the underwhelming performance of those trucks that did find buyers.
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