The Crazy, Confused World Of Used Tesla Cybertruck Pricing

Tesla’s official Cybertruck pricing has been crazy from day one. But it can’t hold a candle to what’s been happening in the used market.

I asked four car dealers, who are selling used Cybertrucks in the U.S., about pricing. Some were clueless, while others were defiant. But the upshot is that used Cybertrucks are still being sold, in some cases, for tens of thousands of dollars above the price of equivalent new CTs from Tesla.

Backdrop: Since 2019, the wait for a Cybertruck has been measured in years. Then, finally, Tesla began making the first deliveries at the end of last year, albeit at a lavish price of $100,000. The lucky few who got the initial deliveries — and were willing to pay a premium — were able to quickly resell their low-mileage CTs at inflated prices on the used market. Asking prices went as high as $200,000 in the March-April timeframe.

What’s changed: But the market dynamics for the Cybertruck have changed dramatically since August when Tesla began listing the $99,990 AWD model for same-month delivery. And more pressure has been put on pricing as Tesla begins to deliver an even cheaper $79,990 model to reservation holders. CarGurus shows that average used Cybertruck prices dropped from $175,000 in April to $114,000 in October.

Case 1 — confused: A dealer I contacted in South Carolina told me that an AWD Cybertruck they had listed previously at around $118,000 was now being offered for around $102,000. But the salesperson I spoke to was unaware of the market dynamics and not sure why the price had dropped.

Case 2 — defiant: a dealer I contacted in Los Angeles was listing an AWD CT for $125,000, about $25,000 more than the price of a new AWD model from Tesla. The sales manager was well-informed and aware of the market dynamics but he had seemingly logical reasons for sticking to the inflated price. He said that his dealership had already sold more than a dozen used Cybertrucks at significant markups. When I asked how he justifies the markup, he said that buyers like the fact that they can walk in and pick up the CT the same day. And he insisted that though Tesla lists new CTs for October delivery, that delivery date is not necessarily guaranteed. “I know how it works and sometimes you have to wait a long time for delivery,” he said, adding that he has a contact at a Tesla store who keeps him apprised of Cybertruck sales dynamics. “Our Cybertrucks actually sell very fast,” he said. And the latest CT on the lot has the Full Self Driving update, he added.

Case 3 — the “AI price”: A third dealer I contacted in Los Angeles had two Cybertrucks with one being sold for $135,000, according to the sales manager. He told me that “AI determines the price.” When I asked him what that meant, he said that the AI he uses adjusts the price according to market conditions. When I explained that Tesla was selling the same CT for $99,990 he said: “Then, I would recommend you buy the $99,990 Cybertruck from Tesla.”

Case 4 — flexible: The fourth dealer I contacted was flexible on price. Though the AWD CT was listed for $115,000, he said they would take the best offer, adding that the Cybertruck had been “consigned” to them from a private seller. The dealer had added wrap — which is done for cosmetic and protective reasons — and “new wheels,” he said. But those after-market modifications did not justify the premium the dealer was asking.

Upshot: I got the impression that dealers who are selling the CT at a significant premium will stick to the price as long as they have willing buyers. And apparently some are still out there.