One Year In, Hope For The $60K Cybertruck

Almost one year after the Cybertruck began deliveries, the return of the more affordable $60,000 model is high on the list of expectations.

The Cybertruck began deliveries in the U.S. on November 30 of last year. For most of this year, prices stayed prohibitively high. The Foundation Series — the only CT available — started at $100,000 for the AWD and about $120,000 for the Cyberbeast.

That changed in late September when Tesla began offering the AWD Cybertruck for $79,990 and the Cyberbeast for $99,990 — definitely less expensive but still out of reach for most people. And not close to the $39,990 price originally announced back in 2019 or the $60,990 model that was delisted over the summer. More recently, Tesla has introduced leasing but don’t expect a deal here either. With $7,500 down, AWD leasing begins at $999 a month.

But wait, hasn’t Tesla begun offering Cybertruck deals on its inventory page?

Some reports and anecdotal forum chatter claim that Cybertruck demand is crashing. So far, there’s no hard evidence for this. The CT was the third bestselling EV in the U.S. in the third quarter, according to numbers released by Cox Automotive, which owns Kelley Blue Book. More recent doubts about demand stem from the fact that the Cybertruck has appeared for the first time on the Tesla inventory page. So demand must be slowing, the thinking goes. But so far there is little if any evidence of a chronic oversupply of CT inventory and no supply-driven deals to speak of (as of mid-November 2024).

Used Cybertruck market is a joke (no deals here either)

One of the most bizarre contortions of the principle of price elasticity is the used Cybertruck market. What began as scalping — reselling scarce CTs at inflated prices — has turned into resellers refusing to accept the realities of the market. A quick glance at used prices on CarGurus (as mid-November 2024), shows that asking prices for AWD Cybertrucks are at least $10,000 more than new CTs. Good luck with that.

A future (cheap) single-motor RWD $60K Cybertruck

The rear-wheel drive CT — listed on Tesla’s website until August for $60,990, when it was taken down — is the last, best hope for an affordable model. But it’s anyone’s guess at this point when that will reappear. Back in August, the Cybertruck page listed the $60,990 CT with 250 miles of range and 2025 availability. If that still holds, it should reappear later this year or 2025.