Used Tesla Cybertrucks Command a Premium in Resale Markets Despite Company Efforts

The electric vehicle sector is witnessing an intriguing phenomenon as slightly-used Tesla Cybertrucks are surfacing in the secondary market at elevated prices. This trend emerges even as the manufacturer, Tesla Inc. TSLA, actively attempts to dissuade the quick turnover of its newly released model.

Tesla's Market Profile

Tesla, Inc. TSLA, a frontrunner in electric vehicles and clean energy, operates from its base in Palo Alto, California. With a diverse portfolio that encompasses electric cars, battery storage solutions ranging from domestic to industrial scales, and solar energy products, Tesla continues to lead the market in innovation. In 2020, the company topped the charts in plug-in and battery electric passenger car sales, commanding 16% and 23% market shares, respectively. Furthermore, through its Tesla Energy division, the company is an influential force in the installation of solar photovoltaic systems and a substantial contributor to global battery storage supplies, having delivered 3 GWh in 2020 alone.

The Resale Market Surge

Notwithstanding Tesla Inc.'s TSLA efforts to regulate its latest offering's resale, a notable number of used Cybertrucks has found their way onto online platforms. Specifically, CarGurus lists over 145 used Cybertrucks, while Kelley Blue Book reflects a slightly lower figure of around 125. These vehicles are attracting buyer interest despite being priced above their initial retail values, hinting at a demand that surpasses the current supply, and a market willing to pay a premium for the cutting-edge electric pickup.

Tesla, Cybertruck, Resale