Driver sells car that used to go for double original $100k price tag – now he’s lost thousands 3 months after buying
A CAR owner sold his popular pickup truck at a major loss months after buying it for double its original $100,000 market price.
The unnamed owner was among the first to get their hands on the elusiveTeslaCybertruck when the demand for the long-awaited EV vehicle was through the roof.
Tesla premiered the futuristic EV pickup truck’s Foundation Series launch in November 2023, following years of teasing the stainless steel design model for nearly a decade.
The Cybertruck’s concept was shared with the general public in 2019, featuring 20-inch wheels with 600 horsepower, a 4-wheel steer-by-wire seeing system, a panoramic glass off, and an 18.5-inch touchscreen in the center, among other features.
The all-wheel drive EV has a maximum driving range of 340 miles.
In March, a Porsche dealership was one of the first sites to get a Cybertruck delivery after purchasing the brand-new EV for $244,000.
Read more in The U.S. Sun
The dealership relisted the vehicle for $289,999, adding $45,999 to the price tag.
The jaw-dropping Cybertruck eventually sold to a buyer in Parsippany Troy Hills,New Jersey, about 19 miles from Newark.
The deal was the most expensive Cybertruck ever sold, according toAutoevolution.
But, months after the purchase, the buyer relisted and sold the EV at a significant loss.
The New Jersey owner sold the Cybertruck, which had just 6,600 mileage, in October for $83,000, down over $200,000 from the original purchase price
However, at the conclusion of Tesla’s Foundation Series launch in August, the company announced a price cut to its exotic pickup truck.
Tesla Cybertruck Tesla fans fume as Cybertruck event delayed – but ‘mad cool’ design has everyone saying theirs can’t come fast enough
The Cybertruck’s AWD version was slashed to $79,990, down from its original $99,990 price.
The model’s Cyberbeast trim was cut to $99,990, down from $119,990.
However, the release of Elon Musk’s innovative pickup truck has not been smooth sailing, as the Cybertruck has been hit with a number of recalls.
On Friday, Tesla issued its sixth recall for the Cybertruck this year.
The National Highway Traffic Safety Administration said the recall involved a faulty part that could cause the vehicle to lose power, impacting the wheels.
The issue can happen without warning when the accelerator pedal fails to propel the vehicle.
The recall applies to 2,400 vehicles built between November 6, 2023, and July 30, 2024.
Why aren’t people buying EVs?
In January, many EV makers reported slow demand. Reuters said there are a few valid reasons for a slow in demand:
- High initial costs. Many automakers, like Tesla, Hyundai, and Ford have conducted “price slashes” on their flagship EVs to attract new buyers, though demand remains slow.
- Higher insurance costs. Some insurance companies cite fire risks, high costs of battery replacement, and higher vehicle weight as reasons for higher premiums.
- Charging anxiety. A large percentage of people remain fearful of being in a situation where they won’t be able to charge if they run out of battery due to a lack of infrastructure.
- Range anxiety. In many instances, EVs still don’t have the range and infrastructure of gas-powered vehicles.
- Poor performance in extreme temperatures. Reduced range in extremely hot or cold weather makes potential buyers wary.
Source:Reuters
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