In 2019, when Tesla unveiled its spaceship-looking, bulletproof electric pickup truck, gearheads’ jaws collectively hit the floor. Sure, its polarizing design might not have been to everyone’s taste, but that wasn’t its purpose.

The Cybertruck was supposed to revolutionize the pickup truck market, making F-150 owners trade in their trucks for what was promised to be one of the most rugged, road-legal vehicles ever built. Yet, today, Tesla find itself struggling to move Cybertruck inventory. So, how did we get here?

One of the few things that are actually working in the Cybertruck’s favor right now is its insurance premiums. While it’s still more expensive to insure than the average car, it’s actually cheaper than its smaller sibling, the Model 3.

Turning Heads Instead Of Sales

Since its debut, the internet has been obsessed with the Cybertruck’s design. Even people who know nothing about cars can spot one in the wild. Then again, it’s pretty hard to miss with its side profile resembling one of the Pyramids of Giza if it had scoliosis.

If the Cybertruck has taught us anything, it’s that there’s a niche market of buyers willing to pay absurd amounts just to stand out from the crowd. Unfortunately, the novelty wears off fast, and while Cybertruck sales surged early on, they are now slamming on the brakes.

According to Kelley Blue Book, the Cybertruck was the third-best-selling EV in Q3 2024, and the overall fifth-best-selling EV of the year overall. In June 2024, it even became the best-selling vehicle over $100,000 in the U.S. However, with more compelling electric trucks, like the Rivian R1S, entering the market, demand has faded to the point where Cybertruck sales are at an all-time low.

Broken Promises And Broken Windows

Tesla has a habit of making promises it can’t keep — just ask anyone still waiting for the long-overdue Tesla Roadster — and the Cybertruck is the perfect case study for unmet expectations.

From the moment its supposedly bulletproof window shattered on stage, red flags were everywhere. Elon Musk promised an indestructible, budget-friendly electric truck, but other than the electric part, customers got neither of those things.

Tesla initially promised the Cybertruck would start at a modest $39,900. Fast-forward to 2025, and the base model now starts at $79,990 – double the promised price. And if that wasn’t enough, those who pre-ordered had to wait an extra year before getting their hands on their overpriced metal wedge.

And it gets even worse. According to CNet, once Cybertrucks finally made it to customers, they were plagued with countless recalls that ranged from horrid build quality to random electronics malfunctioning, and much, much more. By now, the Cybertruck has proven itself to be much more of a show pony than a workhorse.

Why Are Insurance Costs So Low?

Despite costing twice as much as a Tesla Model 3, the Cybertruck is cheaper to insure than its smaller sedan sibling. Insurify found that full coverage for a Tesla Cybertruck costs only $3,392 a year, whereas a Model 3 costs $4,347. There are some valid reasons for that.

Insurify found that 66% of Cybertruck drivers tend to have excellent credit scores, in comparison to the 35% of average EV drivers. They also say that half of all Cybertruck drivers are in their 40s, whereas only 14% of Model 3 drivers have reached that age.

The Cybertruck’s tough-as-nails exoskeleton also contributes to lower insurance costs. Because of its class-4 hail-rating windows and stainless steel skin, it’s less prone to damage caused by storms — but heaven forbid a pigeon passes by and leaves you a present, as bird droppings tend to etch into the steel.

Should You Buy A Cybertruck Because The Insurance Is Cheap?

Is the insurance a good enough reason to splurge on a Cybertruck? The simple answer is no. When looking at the big picture, there are other electric pickups that don’t look like they were designed by a three-year-old and don’t cost more than $70,000.

Consider something like the Ford F-150 Lightning, which starts at $62,995. Since we’re talking about the insurance premiums, it’s worth mentioning that the Lightning also costs marginally less to insure than the Cybertruck.

There’s no denying that the Cybertruck made an impact on the automotive world. It was a short-lived sales success and, for a while, the most sought-after pickup in the world.

With demand dying down, more flaws coming to light, and prices refusing to drop, the future of the Cybertruck looks bleak outside its niche audience.

For now, the Cybertruck is a four-wheeled contradiction: Too expensive for normal folk, too unconventional for traditional truck buyers, too impractical for work use, yet oddly affordable to insure.