The Tesla Cybertruck was supposed to be the future. Unveiled in a now-infamous 2019 event where its supposedly “bulletproof” windows shattered on stage, the sci-fi pickup, with its polarizing stainless-steel design, was hyped by CEO Elon Musk as an indestructible vehicle that would completely disrupt the lucrative truck market.

Today, that future looks like a commercial flop. Prices for used Cybertrucks are in a freefall, a stunning collapse that has become the most visible symbol of the deep and growing crisis at Tesla.

According to new data from the auto marketplace CarGurus, the average price of a used Cybertruck has plunged a staggering 30.35% in the last year, now hovering around $84,027. This dizzying drop for what was once one of the most anticipated vehicles in history is a major blow for Musk, confirming that the Cybertruck has failed to find a mainstream audience.

The collapse in the used market mirrors its disastrous performance in the new market. In the second quarter of this year, Tesla sold only 4,306 Cybertrucks, a 50.8% decrease compared to the same period in 2024, according to data from Cox Automotive Kelley Blue Book.

A Brand-Wide Collapse

The Cybertruck’s failure is the leading edge of a much larger problem for the company. The same CarGurus data reveals that used Tesla prices as a whole have now plummeted below the average for the entire U.S. used car market.

As of early August, the average price for all used vehicles in the U.S. was $28,048. The average price of a used Tesla was just $27,852, down a steep 14% year-over-year. This is a shocking development for a brand that has always commanded a premium price, especially since the market average includes budget cars. It shows a fundamental imbalance: a growing number of owners are looking to offload their Teslas, but fewer buyers are willing to step in.

The damage is brand-wide. The average used price of a Model S is down nearly 23% year-over-year. The Model X luxury SUV is down almost 16%. Even the Model Y, the world’s best-selling electric vehicle, has seen its used price drop nearly 12%.

The Musk Factor

So, what happened? The answer lies with the company’s once-infallible CEO. Elon Musk’s increasingly controversial political actions have alienated the core of Tesla’s original customer base: environmentally conscious, liberal-leaning buyers.

His high-profile role in the Trump administration’s infamous Department of Government Efficiency (DOGE)—which slashed federal budgets and fired employees—along with his promotion of far-right and white supremacist ideas on his social network X, has fundamentally damaged the Tesla brand. The result has been global protests outside Tesla showrooms and a sharp drop in the company’s sales and profits.

In the second quarter, the carmaker’s net revenue fell 16.3% from the same period last year. While Musk has recently stepped back from his official government role to focus on Tesla, the road to repairing the company’s image looks incredibly long.

The Cybertruck, once the ultimate symbol of Musk’s futuristic vision, has now become the ultimate symbol of his brand’s decline.

Our Take

The Cybertruck used-market crash is both a symptom and a signal. It highlights waning demand, production missteps, and reputational risk. For Tesla to rebound, it may need to reconsider pricing, marketing strategy, and public positioning. Until then, even Tesla’s futuristic flagship can’t override the declining brand vitality.