Even if you could somehow set aside Elon Musk’s role in turning the U.S. into a corrupt oligarchy, the Tesla Cybertruck sucks. It’s bad at being a truck, bad at being a vehicle in general, bad at not being a danger to other drivers — in more ways than one. We’re still waiting on Tesla to announce its Q1 sales, but until then, you can at least enjoy the steady decline in used Cybertruck values over the last year.
For a while, at least, it seemed like there were enough Cybertruck-wanters out there still willing to pay big money to advertise to the world that they’re selfish lovers to keep prices high. Granted, I don’t usually pay super close attention to auction listings for regular vehicles you can usually find for sale in any city in the U.S. and also prefer not to think about Elon Musk, Tesla, or the Cybertruck any more than this job requires me to. But the people bidding on enthusiast vehicles tend to have a good bit of money, and at a glance, prices were still high enough that it at least looked like they were generally immune to all the bad Cybertruck news.
So I was surprised to see that a Cybertruck for sale on Cars & Bids with two days left on the auction still hadn’t crossed the $70,000 mark. Any amount of money is still too much for one of these things, but it got my attention.
Declining Cybertruck values
Looking back through Cars & Bids’ past Cybertruck auction results, it was a little crazy to see just how much these trucks were selling for less than a year ago. For example, here’s a nothing-special Foundation Series auction that ended on May 31 with a winning bid of $108,500. Talk about an absurd amount of money. About a week later, another Foundation Series failed to meet its reserve at $110,000. In late June and early July, though, the highest bids started to slip into the $90,000 range, but through the end of 2024, every high bid was at least above $80,000.
Come February, though, and we finally saw a Foundation Series top out at $73,000 and fail to sell. The last regular Cybertruck listed on Cars & Bids went for $72,000 — or about what you’d pay for a new base Cybertruck after you apply the tax credit. Meanwhile, in February, we also saw the first Cyberbeast sell for less than $100,000. And about a week ago, a Cyberbeast topped out at $81,000 and sold for an undisclosed sum after the auction ended. There’s no telling what the high bid will be on the current Cybertruck listing or what the reserve is, but it could very well be the first one in Cars & Bids to fail to reach $70,000.
Following a trend
Head over to Bring A Trailer and you’ll see a similar trend. In fact, they even put the last year of auction results into a convenient little chart so you can see auction values over the last year. Now, as much as I wish I could tell you that dot in the lower right corner was an actual Cybertruck sale, and they’re now basically worth less than $2,000, that one was actually for a set of Cybertruck wheels. Presumably to replace them as they fall off your truck while driving. Just kidding. I’m sure you can trust the wheels to stay on the Cybertruck.
Still, you don’t have to be a statistician to see the trend here. Prices are falling, and they’re falling fast. The last Foundation Series listed was bid up to $74,500 but failed to sell. Now, some of that is probably due to demand falling for new Cybertrucks, making them easier to get at MSRP. Still, you can’t deny that used Cybertruck values are headed in the right direction, and assuming this trend continues, all the wannabe Three Percenters who overpaid for these monstrosities are going to be so underwater, the only thing you’ll be able to do is laugh. You know, just like you do every time you see someone driving one in public, just begging for any positive attention, all while their fellow Republicans burn the country down.