Tesla now allows Cybertruck owners to trade in their trucks for a less polarizing model after previously not accepting trade-ins or lease buyouts.
One of the reasons for the delay in trade-ins is the significant depreciation of the Cybertruck, with owners experiencing around 35% depreciation after just a year and 6,000 miles.
Many owners have found Tesla's trade-in offers to be more generous than the actual check they receive, with the trade-in value estimates being subject to change based on market conditions.
Despite over a million reservations for the Cybertruck, only about 40,000 were eventually sold, leading to an accumulation of unsold inventory as Tesla's sales slowed amidst controversies surrounding CEO Elon Musk.