At the beginning of March 2024, we brought you the story about the very first Tesla all-electric Cybertruck that sold at the Manheim Dallas Auto Auction. I was monitoring the auction like I do every Wednesday here in my hometown, so I can report to Car Pro Show listeners on the air. It is always good to know the market, especially if you have a trade-in.
As you may recall, on that date the Cybertruck sold to a Florida Porsche dealership for $244,000 plus auction fees and transportation from Dallas to Orlando. I admit I was shocked at the gavel price. The Florida Porsche dealer initially listed the Tesla on its website for $289,000, then as quickly as it appeared, the listing went away.
If you missed our original story on the first Cybertruck sold, you can see it here →
The following week we reported that two more Cybertrucks sold in Dallas at the bargain basement price of just $195,000 and $189,000. Still a huge increase over MSRP, sold to car dealers hoping to tack a profit onto that amount and sell them to the public.
Fast forward to just last week. Our friends at www.GiveMeTheVIN.com sold six of the Cybertrucks, but it is clear the market has slowed way down on these trucks. The MMR (Manheim Market Report) showed the trucks should bring plus or minus $126,500 based on recent auction prices on Cybertrucks around the country, but none of them them reached the guide price. Here’s a summary of all six trucks sold (two more of these did not sell at all):
- #20-186 Miles: 80 MMR: $127,000 Actual sale price: $120,000
- #20-190 Miles: 228 MMR: $127,000 Actual sale price: $121,000
- #20-191 Miles: 155 MMR: $127,000 Actual sale price: $121,000
- #20-194 Miles: 242 MMR: $127,000 Actual sale price: $121,000
- #20-195 Miles: 668 MMR: $126,000 Actual sale price: $120,500
- #20-196 Miles: 1356 MMR: $126,000 Actual sale price: $118,000
Click Here To Enlarge File Photo
Again, there is a buyer’s fee on top of the sale price, and the dealers that purchased them has to arrange for shipping to their respective car dealerships.
There are widespread reports of Cybertruck quality issues all over the Internet that have stopped or delayed production in some cases. By Tesla’s own numbers in investor disclosures, in the first quarter of this year, Tesla produced 46,561 more vehicles than it sold. So where are they? According to the website www.QZ.com, many are parked at Chesterfield Mall near St. Louis, and many are parked at the Fremont, CA. assembly plant, as seen in this video shot recently:
Photo Courtesy of Tesla, Inc.
