Comment Tesla electric cars and a Cybertruck are displayed in a test drive vehicle charging area at a ... More shopping mall parking garage in San Diego, California, on April 23, 2025. Elon Musk will significantly scale back his Trump administration work in May to focus on Tesla, the billionaire announced Tuesday as the electric vehicle maker reported a 71 percent drop in first-quarter profits. (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images) AFP via Getty Images UPDATE: Used Cybertruck prices are crashing as dealers try to come to grips with the electric pickup’s declining popularity. This story has been updated with dealer and pricing information. Used prices for the Cybertruck had been staying stubbornly high since the novel wedge-shaped stainless steel pickup went on sale in late November of 2023. But that appears to be changing quickly now. This comes against a backdrop of swelling new inventory on Tesla’s Cybertruck page. Some inventory discounts are as high as $8,000, bringing the price down for the All-Wheel Drive Cybertruck to as low as $64,490 with the federal tax credit. Deliveries of the Cybertruck plummeted in the first quarter of this year—essentially cut in half—falling to 6,406 versus 12,991 in the fourth quarter of last year, according to Cox Automotive. Used Marketplaces Selling Cybetrucks Face Declining Demand In one case, a dealer in West Palm Beach, Florida has seen the price collapse from $87,998 on April 8 to $79,998 on April 14 to $77,998 on May 13, and as of Wednesday May 28 the price was set at $74,998, according to Meir Alaluf, Sales Manager at HgregLux in West Palm Beach. That’s almost a 15% decrease in a little more than a month and a half. He cited sinking demand for the car and reports about Cybertrucks just sitting on lots unsold. Cars on average lose about 20% of their original value during the first year, according to Kelley Blue Book. So, it’s unusual for a vehicle to lose 15% of its value in just 50 days. In another case, a dealer in northern California, GMC Vacaville, had just sold a used 2024 All-Wheel Drive Cybertruck for $84,000. “With him getting involved" prices have been beaten down, said Bill Cross, a sales manager at GMC Vacaville, referring to Tesla CEO Elon Musk getting involved with the Trump Administration. In May of last year, a $100,000 Foundation Series purchased directly from Tesla was being resold with an average asking price of around $150,000, according to CarGurus. But that was before Musk joined the Trump administration in January, triggering a backlash from a small but vocal faction of protestors. The Cybertruck became the symbol of disaffection with Musk and Tesla. Another dealer in southern California was selling a 2024 AWD Foundation Series Cybertruck for $80,000—unimaginable a year ago. The Foundation series Cybertruck includes Full Self Driving (an $8,000 value) and a trailer hitch. Kelley Blue Book puts the “Fair Market Range” of a used Cybertruck now at $71,808 - $81,753. MORE FOR YOU