Used Tesla Cybertruck Markups Plummet As Hype Cycle Cools Down
There is a group of influencers, celebrities, and upper-class individuals who are eager to be among the first owners of the latest trendy vehicle. Lately, that vehicle has been the Tesla Cybertruck.
These individuals are not necessarily fans of the brand or model, but they are attracted to the hype surrounding it. They usually don’t have reservations and instead, turn to the secondary market where they pay premium prices to get their hands on the vehicle.
Some early adopters have found this demand to be a lucrative business opportunity. They reserve the car early, enjoy the attention for a brief period, and then sell it at a significant markup. However, Tesla attempted to combat this behavior by implementing an agreement that restricts reselling the Cybertruck within the first year without approval from Tesla.
Despite this restriction, many flippers decided to take the risk and began listing Cybertrucks for sale at double the original price. As production increased, and more used vehicles became available, the prices started to drop significantly.
Now, the average price for a used Cybertruck is around $130,000 to $140,000, slightly above the MSRP. The days of exorbitant profits seem to be fading away as more trucks flood the market.
This trend is not unique to the Cybertruck, as other electric truck models like the Rivian R1T, Ford F-150 Lightning, and Hummer EV have also experienced similar fluctuations. Manufacturer interventions have been made to discourage exploitative pricing by dealers and flippers.
As production ramps up and more vehicles hit the market, the prices of the Cybertruck are likely to continue dropping until they are available for purchase under MSRP.