The First New Tesla Cybertruck Auction Resale Is a No Go…

Bids went up to $158,000, but it's not good enough.

2024 Tesla cybertruck auction

The first 2024 Tesla Cybertruck to hit the popular Cars & Bids auction site is a no-sale. What does it mean? Let’s dig in.

The bidding went up to $158,000, but a sale could not be made. The owner of this new Tesla Cybertruck dual-motor AWD Foundation Series put less than 100 miles on the odometer. This truck was purchased in March 2024. It’s brand new. However, Tesla has a resale penalty clause in its contract. The Cybertruck purchase clause specifies a $50,000 fine and a lifetime new Tesla purchase ban for owners who resell the Cybertruck within the first year of ownership.

The new dual-motor AWD Foundation Series costs approximately $99,990 (plus taxes). At a bid of $158,000, the owner stood to just about break even on this sale (if you consider purchases taxes and a $50,000 penalty).

For comparison, the first 2022 GMC Hummer EV pickup truck that listed for sale at Cars & Bids, sold for $235,000 (more than twice the original $110,000 purchase price). This Cybertruck came nowhere near to doubling its original price.

What does this Cybertruck no-sale mean? Does it show a slowing interest in electric pickup trucks in general? Does it show a slowing interest in the Cybertruck specifically? Did the seller get cold feet or simply wanted more profit?

What do you think? Please let us know in the comments below.