A California dealership manager's viral video highlights the Tesla Cybertruck's struggling resale value and excess inventory. Jason Xie of Alfa Romeo of San Jose reports that even Founders Editions are piling up, with stock lingering for at least 150 days. This shift comes as data shows the electric pickup losing up to 60% of its value over five years.
Jason Xie, general manager of Alfa Romeo of San Jose, shared his observations in a TikTok video that has garnered over 589,000 views. In the clip, Xie points to a cracked asphalt slab as a metaphor for the Cybertruck's market challenges, noting that the vehicles are accumulating on lots. "They just keep piling up… about 150 days in stock at least," Xie said, adding, "no one buys ’em." He critiqued the design, stating, “It's nice quality, but it's too odd-looking. I'm not crazy about the look of these.” Xie further remarked, “It's definitely unique, but I think for the price point, I would take a Rivian over this.”
Xie's comments reflect broader market trends for Tesla's flagship electric pickup, which originally featured year-long waitlists but now faces dealer reluctance to stock it due to resale risks. The base Founders Edition launched near $100,000, yet depreciation data is stark. A CarEdge analysis indicates a Cybertruck purchased for roughly $96,985 could resell for about $50,888 after five years, a nearly 48% decline. An iSeeCars study pegs five-year depreciation at about 60%, compared to 38.8% for light-duty pickups generally. Electrek reports first-year losses of 34-45%, with a $100,000 Cybertruck trading in for around $60,000 after under 20,000 miles.
Factors include the polarizing angular stainless-steel design, now mocked online as a “dumpster truck,” alongside high insurance and repair costs from scarce parts and long wait times. Some insurers are reluctant to cover it, and its heavy curb weight adds to ownership challenges. In a follow-up email, Xie noted, “Right now, (Kelley Blue Book) prices for the Cybertruck are still inflated, and the demand just isn’t there. There’s probably more price correction ahead before things level out.” He contrasted this with other EVs like Porsche, Lucid, and Rivian models, which see 40-50% discounts on two- to three-year-old units under warranty, attracting former Tesla owners.
Despite the downturn, Xie suggests opportunities for long-term buyers unbothered by resale risks, though mainstream appeal remains limited amid competition from the Rivian R1T and Ford F-150 Lightning.