From the range to the prices and accessories, the Cybertruck did not live up to its expectations.
June 16, 2024 has 4:06 p.m. ET
Tyler Hoover of Hoovies Garage has decided to get rid of his Tesla Cybertruck and isn’t looking back. Just one month of ownership was enough for all the little things that bothered him to outweigh what he loved about the truck.
Meanwhile, Tyler was disappointed by the many broken promises regarding lineup, features, accessories, and pricing. Not to mention he wants to get out before he’s underwater in the business. “I feel like if I still have this thing by the end of the year, I’ll be out $30,000 to $40,000 or more.”
Tesla Cybertruck Resale Value
Although reviews of the Tesla Cybertruck are mixed, most owners seem generally happy with their $100,000 purchase. According to Cox Automotive, there were enough fans of the electric pickup to move about 3,000 units in May of this year. This contributed significantly to the 3.1% increase in EV transaction prices in May. Now that there is more supply, Cybertruck used prices have dropped significantly. Earlier in the year, used Cybertrucks were often selling at markups of 100% or more. But by mid-May, prices had fallen to just above MSRP.
Tyler’s biggest frustrations probably have to do with Tesla’s inability to deliver on the originally announced price and specifications. At over $100,000 and only 340 miles of range, the production model is a far cry from the initial reveal. It recognizes the $15,000 range extender option announced last year. But aside from the added cost, the range extender takes up a significant portion of the truck’s platform. It also doesn’t currently exist, and based on Tesla’s track record with Cybertruck accessories, it may never be released.
The off-road light bar above the windshield? Doesn’t seem to be available yet. The equipment to power your home in the event of a breakdown? A very long wait time and an installation cost of over $6,000 by an authorized Tesla installer. Replacement wheel covers? Still not delivered and its wheels are starting to rust. Autopilot with fully autonomous driving? Elon Musk recently told owners that this is a lower priority and that delivering these driver assistance features could take “months.”
But hey, the Foundation Series comes with branded engraving and an additional $20,000 in debt.
Regarding build quality, Tyler says the panel gaps are good and the panels themselves are sturdy as promised. Unfortunately, many of the panel edges are razor sharp. “I hurt my arm the first few days going through and cutting here on this sharp edge.” He also criticizes the truck’s off-road preparation with “crummy” control arms and rigid lower-body fenders that should have been flexible.
If he actually liked the Cybertruck, he might have been willing to put up with many of these problems. Unfortunately for him, that was not the case.
So that’s a lot of negativity. But is there anything he likes about owning the truck? He says Tesla has absolutely delivered on its exterior styling promises. “I really like the looks. People are divided on this but personally, I love it.
Tyler also appreciates the power and instant acceleration of the truck. When it comes to these EV qualities, the Cybertruck is among the best. Ride quality is pleasant and road noise is minimal. Seat comfort and interior design are good but not exceptional. Although he finds the central touchscreen incredibly frustrating to use.
So it’s nice that Tyler was able to find things he likes, but based on his comments, it’s not surprising that he would choose to sell. This is clearly not the vehicle that suits him.
Initially, most dealers and wholesalers were not interested in taking back the vehicle. Prices for used Cybertrucks have been volatile lately, and with the release of the non-Foundation series imminent, the situation is likely to get worse. There is very little that differentiates this model from the next cheaper version, and dealers are unwilling to commit due to the impending price drop.
Carmax also refused to make an offer and was told, “We are unable to make an offer on your Cybertruck until it has been at least a year since you purchased it.” » Which may mean they were worried about Tesla’s legal threats against pinball machines. After much research, he was able to find a dealer willing to pay $111,000, slightly above the original purchase price.
In place of the Cybertruck is a lightly used 2023 Cadillac Lyriq for just $42,000. As a 2023 Launch Edition, this is the 2WD model with 314 miles of EPA range and the SuperCruise standard. So far, he loves the Lyriq and considers it a return to form for the Cadillac brand. “The ride is so nice, it looks really good. Even though it’s a crossover, it’s lower, almost wagon-like to me.
He says the seat comfort and interior layout are ahead of the Cybertruck. Additionally, the Cadillac has real, working driver assistance software.
Yet, as a first-year example, the 2023 Lyriq is also known to have numerous technical issues. We will therefore have to wait and see if this example causes him problems in the long term.
If you own a Cybertruck, is Tyler’s analysis of the truck completely wrong? Or are you just as frustrated and considering a change? Let us know your experiences in the comments section below.
Gallery: 2024 Tesla Cybertruck Review
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