Selling A 'Stupid' Tesla Cybertruck, Upgrading To Cadillac Lyriq
How did the actual range and features of the Tesla Cybertruck compare to the initial promises made by Tesla according to Tyler?
According to Tyler Hoover of Hoovies Garage, the actual range and features of the Tesla Cybertruck fell short of the initial promises made by Tesla. In his experience, the production model did not meet the originally announced price and specs. At $100,000+ and only 340 miles of range, it did not come close to the initial reveal. Furthermore, he faced disappointment with unkept promises on range, features, accessories, and pricing. Some of the missing or delayed features mentioned include the off-road light bar above the windshield, hardware to power your home during an outage, replacement wheel covers, and Autopilot with Full Self Driving.
What were the primary reasons Tyler Hoover decided to sell his Tesla Cybertruck after only one month of ownership?
Tyler Hoover decided to sell his Tesla Cybertruck after just one month of ownership due to several factors. His frustrations stemmed from unmet promises by Tesla regarding the range, features, accessories, and pricing of the vehicle. Hoover was disappointed with the actual range of 340 miles, significantly lower than initially advertised, and the fact that the range extender option would cost an additional $15,000 and take up a considerable portion of the truck's bed.
Other unfulfilled promises included the unavailability of the off-road light bar above the windshield and the hardware to power homes during outages, both of which were supposed to be included in the package. Hoover also expressed dissatisfaction with the sharp edges of the panels, which posed a safety hazard, and the subpar off-road capabilities due to "dinky" control arms and rigid lower body mud flaps.
Moreover, Hoover found the center touch screen frustrating to use, and despite liking the truck's power and instant acceleration, he felt that the seat comfort and interior design were not exceptional. He decided to sell the Cybertruck as he believed that if he held onto it for longer, he would end up losing a significant amount of money.
How has the resale market for the Tesla Cybertruck changed since its release, and what factors are influencing its volatility?
The resale market for the Tesla Cybertruck has experienced significant changes since its release. Initially, used Cybertrucks were selling for 100% markups or more. However, by mid-May, prices dropped to just above MSRP. Factors influencing the volatility in the Cybertruck resale market include Tesla's strict resale policy, the introduction of the new rear-wheel-drive model, and the increasing availability of the vehicle. Additionally, the upcoming release of the non-Foundation Series is expected to affect the resale market as there is very little to separate this model from the cheaper trim.
Tesla's strict resale policy, which threatened to sue anyone who tried to resell their Cybertruck within the first year of buying it, has likely impacted the resale market4. Furthermore, the introduction of the new rear-wheel-drive model at a lower price point has also influenced the market. As more supply becomes available, used prices on the Cybertruck have come down significantly.
Despite the decrease in resale value, the Cybertruck continues to make a strong showing on the used car market. Many "used" Cybertrucks are virtually new vehicles or nearly new, with very limited mileage. The average transaction price for a used Cybertruck is $108,667, and most prices fall into the $120,000 - $160,000 range.
Overall, the resale market for the Tesla Cybertruck has been volatile, with prices fluctuating due to various factors such as Tesla's resale policy, the introduction of new models, and the increasing availability of the vehicle.