Tesla Cybertruck owners are staring down steep depreciation, with trade-in estimates showing the electric pickup loses 37 percent to 38 percent of its value after just one year. One owner told Business Insider he spent about $100,000 on the truck a year ago and, after driving 19,623 miles, received a trade-in estimate of about $63,100 from Tesla—a 37 percent drop. That’s more than double the average 16 percent depreciation rate for new vehicles given by Kelley Blue Book. And while EVs are known for losing value quickly, the Cybertruck’s plunge outpaces similar models like Rivian’s all-electric 2023 R1T pickup, which depreciated about 29 percent over two years. The Cybertruck’s unforgiving depreciation rate could further deter buyers from the angular car, whose sales struggled even before Tesla CEO Elon Musk’s foray into politics tarnished the brand. Business Insider,which Musk dismissed Tuesday as “not a real publication” and “fake,” reported that Tesla fell nearly 10,000 units short of its expected Cybertruck sales in 2024. And in the first three months of 2025, Tesla sold just 6,406 Cybertrucks—half as many as the previous quarter—while Musk’s focus shifted from his business to the White House.
