Cybertrucks are being listed for sale before delivery, often at high prices, by flippers looking to profit from the initial hype and scarcity surrounding the electric pickup truck. Examples of Cybertruck listings include $150,000 in Texas and California and a more modest $115,000 in Virginia. Some listings even offer leases to potentially circumvent Tesla’s anti-flipping clause, which aims to deter immediate flipping and stabilize prices.
The GMC Hummer EV also experienced a similar phenomenon, which eventually led to a crash in the used market once production ramped up.
The GMC Hummer EV experienced significant hype and high demand upon its debut due to its limited production and unique design. Early buyers, including celebrities and collectors, were willing to pay above MSRP for the first units, with the first Hummer EV fetching $2.5 million at auction.
However, as production ramped up in 2022, the supply of Hummer EVs began to meet demand, and prices started to drop. By late 2023, used Hummer EVs were selling significantly below MSRP, with some listed as low as $100,000, a decrease of over 50% from their peak prices.
Tesla’s Anti-Flipping Clause
Tesla’s anti-flipping clause stipulates that the automaker has the right of first refusal on resales within the first year of delivery. This clause is designed to maintain a stable market and prevent flippers from exploiting the limited production and high demand for the Cybertruck.
Limited Production and Hype
The estimated 2024 output of the Cybertruck is below 50,000 units, contributing to the initial scarcity and demand for the vehicle. The unique design and early buzz surrounding the Cybertruck have fueled enthusiasm and willingness to pay a premium for the electric pickup truck.
Comparison to Hummer EV Flipping
Although Cybertruck prices haven’t reached the peak of the Hummer EV’s $400,000. The Hummer EV resale value dropped 57% after production ramped up, indicating that the high initial prices of limited-edition electric trucks may be short-lived.