Latest news with #FoundationSeries
Miami Herald
5 days ago
- Automotive
- Miami Herald
Tesla Calls Cybertruck Wrap & Magnets as 'Damage' in Trade-In Dispute
A Foundation Series Cybertruck owner is seeking answers after Tesla deducted trade-in value from his electric vehicle (EV), citing physical damage, as first reported by Torque News. The Cybertruck driver, Ace, posted on the model's online forum: "If you wouldn't mind sharing, how much was your trade value? Was there physical damage they deducted for? What was your mileage[?]" Ace added: "Mine has a little over 9k miles, and they offered me $66,900 and said they had identified 'physical damage' in my photos. I'm guessing this means the wrap? Just trying to figure out how big of an impact that is." The owner sought a trade-in appraisal to acquire a new Cybertruck, where he'd take advantage of the model's current 0% APR with a Full Self-Driving (FSD) Supervised purchase and receive lifetime free Supercharging. Tesla had advertised the deal as expiring June 30, but the automaker is still promoting it on its website as of Tuesday, July 1. Ace's Cybertruck, initially priced at $99,990, contained magnetic stickers in addition to its wrap, as he later posted: "Giving up my aftermarket mods for that [0 % APR, Supercharger access] and will redo them. Sucks, I love my wrap, XPEL armor and fiber optic starlights. But I will love free SC [Supercharging] more. Everything else is transferable, so @CT_AZ_4x4 and I are going to skeletonize the blue truck today. S92 mirror, light bar, side steps, wheel caps, bed contents, molle panels, cybertent hardware, etc. They just sent me my trade offer, and it said they identified "physical damage" in my pictures, which probably means my wrap and lightbar. Offer was $66,500. What do we think? Try CarMax or just accept that?" Four members of the forum responded, with two recommending accepting the offer and the other two voting against. Ace later claimed that CarMax offered him $59,000. If Ace had taken Tesla's trade-in offer, his Cybertruck, a Foundation Series model released in late November 2023, would have depreciated by 33.5%. According to Lending Tree, a new car depreciates 20% on average after a year. Kelley Blue Book notes that new vehicles typically depreciate by about 30% over the first two years, with an additional 8-12% depreciation each subsequent year. Another Cybertruck owner on the forum (non-Foundation Series) said he sold his 2024 AWD model with 3,000 miles, FSD package, and black wrap to a dealer for $65,000. Tesla didn't start accepting Cybertruck trade-ins until May, the same month that news emerged of Tesla sitting on over 10,000 unsold Cybertrucks worth about $800 million. In addition to a trade-in ban, Tesla also initially barred Cybertruck owners from selling the vehicle privately, but changed its policy to allow private sales in August. The Cybertruck's significant trade-in depreciation is likely the result of Tesla overestimating demand and building too many units. While Cybertruck sales got off to a solid start, Tesla sold 40,000 examples in 2024, missing Wall Street's expectations by about 10,000 units. Ford's F-150 Lightning overtook the Cybertruck during Q1 this year to become America's best-selling electric pickup. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
The Drive
19-05-2025
- Automotive
- The Drive
Tesla Quietly Starts Taking Cybertruck as a Trade-In and Confirms What We All Know
The latest car news, reviews, and features. Tesla Cybertruck owners hoping to trade their vehicles in for one of the automaker's other products have found the company unwilling to play along in recent months. For the stainless steel EV's earliest adopters, this was predictable; Foundation Series reservation holders had to agree to a clause forbidding them from selling their vehicles for a year. But Tesla's reluctance to accept Cybertruck trade-ins has persisted well beyond that, until it seemingly ended last week. Two owners have shared the automaker's offers for their Foundation Series trucks that cost $99,990 when new, and they indicate that there was a pretty good reason why Tesla was avoiding this until now. One owner, who posted a screenshot of their offer on the Cybertruck Owners Club forum, noted that Tesla returned a trade-in estimate of $65,400 for their example with just 6,211 miles recorded. Another, who drove their 2024 Cybertruck more than 32,000 miles since taking delivery, was offered $60,500. On the surface, this is pretty alarming depreciation; these Cybertrucks cost about $100,000 when new, and they've already lost around 35% to 40% in value. There are a few additional factors to consider for these particular cases. The owner of the lower-mileage vehicle said they received a $7,500 commercial EV federal tax credit with their purchase. Ordinarily, that rebate wouldn't apply to a Cybertruck Foundation Series because its MSRP was above $80,000, but vehicles purchased for business aren't subject to that cap. Second, the screenshots of both orders stipulate that the owners may transfer their Full Self-Driving (Supervised) subscriptions, which came with their trucks, to their new Tesla vehicles. FSD costs $8,000 as of this writing, but since these owners would be selling to and buying from Tesla, the company may have worked that into its own estimates. Tesla Cybertrucks sit parked in a storage lot in San Diego, California on April 11, 2025. Patrick T. Fallon/AFP via Getty Images Still, whatever incentives Tesla may have offered upon sale don't change the fact that these were effectively $100,000 vehicles with no tax rebate available to personal buyers. The barely-used one has sunk by $34,590 in about 18 months, while the other vehicle, which has obviously been driven much harder, has lost $39,490. Remember that Tesla CEO Elon Musk once famously predicted that his company's vehicles would become 'appreciating assets' because of their autonomous future-proofing. It's reasonable to guess that part of the steep decline may have something to do with Tesla's current trouble selling Cybertrucks. As of today, the inventory tracking website Tesla-info reports that there are 4,322 unsold Cybertrucks already manufactured and waiting to be sold to buyers in the United States. Tesla would likely rather shift those than take in additional stock. On top of that, Tesla could've been turning away owners because it didn't want to eat that huge drop in value. And you've got to imagine that selling new Cybertrucks to the public becomes an even harder task once potential buyers learn how much they could stand to lose in a year. Setting all that aside (we haven't even touched on the monumental impact of Tesla's flagging popularity), electric pickups are hardly stellar at holding their value in the first place. Kelley Blue Book predicts that a 2024 F-150 Lightning Platinum—the most expensive trim Ford sells—with 5,000 miles would lose $30,707 in a year against its $87,090 starting price. That's a 36% drop. One 2024 Lariat in Pennsylvania with 7,608 miles cost at least $79,000 when it was new, and it's now listed at $62,500. Twenty-ish percent is certainly better, but don't forget—that's what a dealer is trying to sell the truck for, not what it's worth. This practically new 2024 Chevrolet Silverado RST is going for $76,995, even though it would've cost around $96,500 new. As for Cybertruck owners, those who are suffering but would prefer to stick with Tesla now have a way out. It may not be the investment some of them hoped it would be, but then the reality of the Cybertruck owner experience has proven to be quite different from the hype. Got tips? Send 'em to tips@ Adam Ismail is the News Editor at The Drive, coordinating the site's slate of daily stories as well as reporting his own and contributing the occasional car or racing game review. He lives in the suburbs outside Philly, where there's ample road for his hot hatch to stretch its legs, and ample space in his condo for his dusty retro game consoles.
Economic Times
06-05-2025
- Automotive
- Economic Times
Is Tesla's vehicle program in crisis? Report says Cybertruck inventory has skyrocketed to a record high of over 10,000 units
Cybertruck Inventory Hits Record High Live Events A Decline in Demand and Slower Production FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Tesla's Cybertruck, which was once projected to revolutionize the electric truck space, is now confronting a challenge. Recent reports show that the vehicle's inventory has climbed to a record high of over 10,000 units in the United States, according to Tesla's inventory cannot be exactly tracked but, Tesla's Cybertruck listings can be tracked, as per the report. It is also possible that Tesla may have many vehicles with the exact same configuration at the same location and it will only publish a single listing for it, so the EV maker may actually have way more Cybertruck inventory, reported per data, Cybertruck listings in the US have skyrocketed to over 10,000 Cybertrucks now from 2,400 Cybertrucks in new inventory at the beginning of April, reported jump in inventory could be because of an actual net increase in Cybertruck inventory, but the automaker is also giving huge discounts on the trucks at varying rates, creating several different prices and, therefore, more to Electrek's analysis, with an average sale price of $78,000, Tesla could have about $800 million worth of analysis also found that Tesla might have slowed down Cybertruck production over the past few months because of a decline in demand, as per the report. Consequently, the spike in available inventory most probably indicates Tesla's move to provide deep discounts, which has resulted in more vehicles being listed and made available in the wider US market, as opposed to an uptick in production levels, according to of the trucks that are now in the inventory were manufactured in 2024, which means they're already some months old, as per the report. Some of the inventories are even from the "Foundation Series," a production batch that Tesla discontinued back in October 2024, according to US inventory has now surpassed 10,000 Cybertrucks, according to listings tracked by and of the trucks in the inventory were built in 2024, which means they're already several months old. Some are from the discontinued "Foundation Series."
Time of India
06-05-2025
- Automotive
- Time of India
Is Tesla's vehicle program in crisis? Report says Cybertruck inventory has skyrocketed to a record high of over 10,000 units
Tesla's Cybertruck inventory in the US has reached over 10,000 units. Data shows a significant increase from April. This rise may be due to discounts. Tesla might have slowed down production. Many trucks were made in 2024. Some are from the discontinued Foundation Series. The company could have $800 million worth of Cybertrucks. Tired of too many ads? Remove Ads Cybertruck Inventory Hits Record High Tired of too many ads? Remove Ads A Decline in Demand and Slower Production FAQs Tesla's Cybertruck, which was once projected to revolutionize the electric truck space, is now confronting a challenge. Recent reports show that the vehicle's inventory has climbed to a record high of over 10,000 units in the United States, according to Tesla's inventory cannot be exactly tracked but, Tesla's Cybertruck listings can be tracked, as per the report. It is also possible that Tesla may have many vehicles with the exact same configuration at the same location and it will only publish a single listing for it, so the EV maker may actually have way more Cybertruck inventory, reported per data, Cybertruck listings in the US have skyrocketed to over 10,000 Cybertrucks now from 2,400 Cybertrucks in new inventory at the beginning of April, reported jump in inventory could be because of an actual net increase in Cybertruck inventory, but the automaker is also giving huge discounts on the trucks at varying rates, creating several different prices and, therefore, more to Electrek's analysis, with an average sale price of $78,000, Tesla could have about $800 million worth of analysis also found that Tesla might have slowed down Cybertruck production over the past few months because of a decline in demand, as per the report. Consequently, the spike in available inventory most probably indicates Tesla's move to provide deep discounts, which has resulted in more vehicles being listed and made available in the wider US market, as opposed to an uptick in production levels, according to of the trucks that are now in the inventory were manufactured in 2024, which means they're already some months old, as per the report. Some of the inventories are even from the "Foundation Series," a production batch that Tesla discontinued back in October 2024, according to US inventory has now surpassed 10,000 Cybertrucks, according to listings tracked by and of the trucks in the inventory were built in 2024, which means they're already several months old. Some are from the discontinued "Foundation Series."
India.com
29-04-2025
- Automotive
- India.com
Meet Lavji Daliya 'Badshah', a Surat-based Dimond merchant, who owned India's first Tesla Cybertruck worth Rs..., his net worth is...
New Delhi: Lavji Badshah, a Surat-based millionaire, has become the first Indian to own a Tesla Cybertruck. The news created a major buzz on social media, with The Indian Express reporting the base price of the Cybertruck at around Rs 60 lakh. Daliya, popularly known as Lavji Badshah, brought a Foundation Series Tesla Cybertruck, a limited edition of Elon Musk's company. The Cybertruck is claimed to be India's first such Tesla piece under the Foundation Series. Talking to the Indian Express, Daliya's eldest son Piyush said, 'This cybertruck is the only one in India, as per what we checked online. There is no such car imported to India. We booked this car six months ago at the Tesla Showroom at Texas in the US. After all due process, we got the delivery a few days ago, so we brought the car to Dubai where road registration was done. Finally, the car reached India through the sea route.' The report further said that the car reached Surat on Thursday. Piyush told the Indian Express, 'It takes six hours of electric charging and on a single charge, the car can run up to 550 kilometres. We are using Dubai RTO registration in India. The car is fully automatic with all the latest features and some innovative features that are not found in other imported cars. This car is in high demand among customers worldwide. The trunk capacity in the car is also huge.' Piyush said, 'The logistics charges were huge. The car has seating capacity of five people and after the car landed in Surat, I drove it carrying my parents and my younger brother. It was an awesome experience to drive such a car and we are hopeful that the company would open its showroom in India. The vehicle is in major demand among the car lovers of India.' Who is Lavji Badshah? Lavji Daliya is a realtor, diamond merchant, and power loom owner based in Gujarat. Lavji Daliya is originally from Bhavnagar He moved to Surat at the age of 13 to work as a diamond polisher. He later built a successful business empire. Lavji earned the nickname 'Badshah' among the people of Gujarat due to his philanthropic work. Lavji Badshah is the founder of Gopin Group, which includes a real estate business called Gopin Developers, a non-profit initiative called Gopin Foundation, and an investment business called Gopin Ventures. The 55-year-old Lavji Badshah told the Indian Express, 'At present, we are using this car in Surat and we have not made any journey on the highways or other districts. In the city, wherever we go, around 50 to 100 people gather on the spot to see the car. People are curious to know about the interiors and other aspects of the car. We have to take extra care. The entire body of the car is made of stainless steel, which has sharp curves, and the tyres are designed in such a way that the car can also run on rough paths.'
