Tesla’s Cybertrucks took a sharp turn, where resale value plummets faster than Musk’s Twitter posts. Once hailed as a daring step into the mobility future, the Cybertruck now suffers in a distinctly electric freefall, losing dollars and dignity. A few years passed, and the futuristic monster has started to look more like a depreciating meme than a mobility revolution. For Elon Musk, who is meanwhile struggling with political scandals, profit slumps, and AI squabbles, it is another hard-left turn into the universe of ‘not quite going according to plan’.

For Elon Musk, whose year is already marked by enough PR potholes to equal a broken-down freeway, the decline in value represents yet another slide mark on Tesla’s increasingly rough ride. Tesla’s highly glorified Cybertruck is transforming from a futuristic dream into a depreciating nightmare. Tesla, once flaunted as a revolution in car design and capabilities, are now discovering their six-figure purchases are worth much less, months after the delivery.

As Electrek reports, Tesla is providing buybacks for 2024 Cybertrucks at only $65,400, a whopping 34.6% reduction from their initial $100,000 price. In comparison, conventional pickup trucks depreciate by only 20% in their first year and only catch up with Tesla’s trade-in rate at 3-4 years of ownership. For customers who invested believing in Elon Musk’s hype, the arithmetic is not pretty.

Cybertruck Facing a Hard Reality

Tesla’s Cybertruck debuted under a shady cloud of hype. Elon Musk introduced the strangely angular vehicle as a revolution in automotive engineering. The Cybertruck was always as much of a show as it was a product. Tesla previously bragged about having 1 million preorders, but just 40,000 of them turned into sales. That quick drop-off represents a bad year, with wider skepticism that is finally catching up with the brand. In addition to the depreciation metrics, Tesla also just posted its sales decrease and declining profits, which is a double whammy to investor hopes and the company’s previously invincible reputation.

Tesla under the Influence of Musk’s Politics and Public Image

Elon Musk’s economic woes are more and more entangled with his political adventures. In a move viewed controversially by many, Musk has flung his significant power and resources to Donald Trump’s 2024 presidential campaign. He donated millions and played a central role in Trump’s cabinet as the leader of the DOGE team, a task force that has come under scrutiny for dismantling crucial federal agencies. Things only got worse for Musk when he showed up at Trump’s inauguration and a gesture from him was perceived as a Nazi salute, provoking criticism and public demonstrations.

Protests have since been directed at Tesla dealerships across the country under the “Tesla Takedown” name, an endeavor that has been dismissed by Musk and described as “paid” protests, as it is something there has been no proof of.

Trump’s White House Sales Pitch

Trump tried to turn Tesla’s declining public image around in March with an odd sales pitch on the White House lawn, reciting Tesla marketing material in a publicity stunt that raised more eyebrows than sales. Trump said,

“This man has devoted his energy and his life to doing this and I think he’s been treated very unfairly by a very small group of people.”

The bizarre promotion has done little to shift public opinion or market performance, though.

Musk’s Retreat from Politics, not to be taken seriously

On Tuesday, Musk asserted that he has “done enough” and will step back from politics to focus on his companies again, signaling a return to what propelled him into household status. Although, less than 24 hours later, he again appeared in the Oval Office, looking on as Trump pushed a widely discredited “white genocide” conspiracy theory to South African President Cyril Ramaphosa. Musk being born in South Africa has also made similar comments on his X (formerly Twitter) platform, and it has increased controversy.

Huge Toll on Tesla’s Brand Image

Musk’s alignment with Trump and polarizing political agendas is taking a visible toll on Tesla’s brand. Experts cite examples such as Target, which faced a consumer backlash after adopting the same anti-diversity attitude. Tesla, previously respected for innovation and clean energy leadership, now increasingly finds itself linked to intolerance, political instability, and mismanagement.

The Cybertruck, once sold as a beacon of the future, has unintentionally become a symbol for everything Tesla must move past. With trade-in values plummeting, public protests increasing, and political controversies intensifying, Elon Musk’s year is looking to be one he might rather forget. Bad news for shareholders and owners, unfortunately, the effects are being difficult to disregard.

Tesla’s fall

Tesla’s recent fall, from crashing Cybertruck prices to Elon Musk’s polarizing political show off, tells us more than just a brand being in distress. It’s a cautionary story about what occurs when visionary leadership crosses over into a weird show. Once the emblem of electric, Tesla now threatens to become a distortion of its own ambition, where cars depreciate before the first tire rotation and CEOs are more concerned with political cosplay than corporate stewardship.

For a company that, at one time or another, dared us to dream of the future, it might need to first recall the basics of trust, substance, and leadership. Ultimately, no amount of impenetrable glass will protect a company from fractures in its public image.