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We’ve known since launch that the Cybertruck is a flop. Sales have been residual after they peaked at 5,175 units registered in July 2024, gradually falling to just 2,000 units sold in April 2025. The dip has been so deep that the Boring Company would have a hard time reaching the bottom of its sales chart pit, which has totaled 46,000 units since production started in late 2023. Now we have learned that things are getting worse for Cybertruck owners: The Cybertruck has depreciated by 45% after only one year, according to CarGurus. The depreciation is so bad that Tesla wasnt accepting its own children as trade-ins until three days ago, as the Cybertruck Owners Club found out. According to an estimate obtained in Teslas app by an owner, a $100,000 AWD Foundation Series with about 6,200 miles on the odometer is now worth $65,400. Thats a 34.6% drop in its value in just one year (on average, cars depreciate around 30% in the first two years). Worse, as Electrek points out, its also worth noting that Teslas online trade-in estimates are often higher than the final offer. The reason may be as simple as the fact that few people want a Cybertruck. We have reported on its many design and quality failures: doors that sever fingers, a gas pedal that can cause uncontrollable acceleration, and falling trim pieces that can cause accidents. Those are just a few examples in a seemingly never-ending timeline of problems that has resulted in eight recalls since its debut. Surprise! It depreciates This polygonal nightmare is flailing, and it should come as no big surprise. There were signs of what is happening now back in May 2024, when the price of secondhand Cybertrucks cratered a few months after initial hype and limited production drove up the truck’s resell price to double or triple its original $102,235 price tag. This tracks Tesla’s own stock, which has been similarly inflated with a price-to-earnings (PE) ratio of 188.13 as of May 19, meaning that the companys share price trades at 188.13 times its earnings per share. For comparison, BYDthe leading EV manufacturer in the worldhas a PE ratio of 27.67. As Tesla increased the production volume, the demand began to fall fast, leading to unsold inventory and forced production slowdowns that left assembly lines empty, with workers taking leave or doing other tasks. Demand was so low that used car dealers reduced purchases, contributing to the rapid depreciation. Musk once claimed that Tesla cars would increase in value, which turned out to be false. Like nearly every other car on the planet except collector pieces, Tesla’s cars have depreciated in value. But the regular depreciation has now accelerated for the entire brand. Tesla Model 3 and Model Y vehicles experienced the most significant depreciation among the top 200 car models in 2024. Tesla experienced a 71% decline in net income and a 13% drop in EV sales in the first quarter of 2025. The company is facing a critical moment due to stagnant design, outdated technology, and declining sales. The Cybertruck is the epitome of this problem. My prediction? Soon there will be a few thousand of these hideous trucks in an underground parking lot with no exit. A new Musk grave with a big tax write-off sign on the front.
Category:
E-Commerce
U.S. TikTok Shop employees received a memo on Tuesday, recommending staff to work from home Wednesday ahead of “difficult decisions.” The memo, which was earlier reported by Bloomberg, told staff they would be updated on “organizational and personnel changes” via email, followed by HR outreach, suggesting possible layoffs. TikTok Shop, the Chinese-owned company’s marketplace feature launched in 2023 in the U.S., allows users to shop for products via the app. The marketplacewhich hosts everything from popular U.S. brands like Crocs to third-party merchandise from Temu and Sheinhit $100 million in single day sales on Black Friday alone. “TikTok Shop is the fastest-growing sales channel weve ever had at MaryRuths. It took off faster than Amazon, faster than retail, faster than anything weve seen,” Jay Hunter, chief revenue officer of vitamin and supplement company MaryRuth’s, said via LinkedIn. “Its messy. Its unpredictable. But the upside is real.” The video app and its parent company ByteDance have faced several challenges this year, including a looming threat of a ban in the U.S. and a month-over-month decline in TikTok Shop sales due to Chinese-based foreign sellers affected by tariffs, Business Insider reported. While specific details regarding changes and scale are yet to be released, the memo follows a series of restructuring efforts to TikTok’s e-commerce unit. In April, TikTok let go several staff members from the U.S. e-commerce unit’s governance and experience team, due in part to failing to meet performance goals. Later that month, reorganization efforts gave more control to executives from the company’s China-based operations, including Mu Qing, who authored the Tuesday memo, per Bloomberg. Fast Company reached out to TikTok for comment but did not receive a response at the time of publishing.
Category:
E-Commerce
With 24/7 service, thousands of locations, and affordable food, Waffle House is a go-to road-trip stop. And soon the chain will offer yet another draw to drivers looking for somewhere to take a break: Waffle House diners across the South will be getting electric vehicle (EV) chargers as soon as 2026. Waffle House is partnering with BP Pulse, the EV charging network operated by energy company BP, to bring direct-current (DC) fast chargers to diners across the South and Southeast, including in Texas, Georgia, and Florida. There are more than 2,000 Waffle House locations across the country; BP Pulse didn’t say how many will ultimately get EV chargers through this effort, but that “an initial tranche of 50 sites” is already in progress. Each site will have six EV charging bays, featuring 400-kilowatt DC fast chargers. Different fast chargers boast different speeds; BP Pulse says its 400 kW chargers can get a vehicle to 80% in as little as 15 to 30 minutes, though it depends on factors like the vehicle’s battery size. Those chargers will be equipped with both combined charging system (CCS) and North American charging standard (NACS) connectors. The first of those stations is expected to go live in 2026, per BP Pulse. This isnt Waffle Houses first foray into the world of EV charging. In February 2024, the chain announced that a location in Tennessee would get EV chargers through EnviroSpark. That initiative received National Electric Vehicle Infrastructure (NEVI) funding from the states Department of Transportation. (EnviroSpark also got NEVI funding to install EV chargers at a Virginia Waffle House.) NEVI was part of the 2021 Infrastructure Investment and Jobs Act, and set aside $5 billion for states to expand the national EV charging network. The Trump administration, however, has thrown the NEVI program into chaos. This February, the administration told state transportation directors that they couldnt spend that funding, pausing the initiative and halting EV charger projects across the country. The EnviroSpark Waffle House EV charging stations ultimately had their NEVI awards rescinded due to the federal pause. The NEVI pause shouldn’t hurt this latest Waffle House deal, though; BP Pulse says it isn’t contingent on any incentives. BP Pulse already has a network of more than 8,000 EV charging locations across 46 states, and also operates internationally. California has long dominated in terms of EV adoption, but Southern states are becoming big EV players. The second largest state for EVs, based on the number of registrations, is Florida, followed by Texas. Waffle House also makes sense as a hub for EV chargers: The diners are open 24/7 (even, notoriously, through some major storms), and are conveniently located along major corridors and off highway exits, making them an easy place to stop and top off your EV battery. Charging up while fueling up on an All-Star Special will be convenient and fasta perfect option for enjoying the Waffle House experience while charging your EV on the go, David Repp, director of Innovation at Waffle House, said in a statement. This story was updated to include more information about Waffle House’s earlier Tennessee and Virginia EV charger projects.
Category:
E-Commerce
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