Simple why numbers are falling. Tesla did it to itself with to many new sales in the past.
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I'm still waiting for used CTs to drop in price. They are still in the 70K range everywhere.
It's true that South Korea is very receptive to Tesla. Model Y and Model 3 sales have boomed this year, to the point where South Korea is now the #3 country for Tesla sales (after #1 China and #2 US). However, this stat also reflects the current weakness of Tesla sales in countries like Canada, UK, France, Germany, and Japan.
As you say, the base AWD CT (with nothing included) is now priced at $139,990 CAD. That currently converts to around $102,000 USD. So way more expensive than the $79,990 USD base price in the US.
That would be nice for me. I remember wanting a Tesla during the boom in 2021-2022 so bad but did not want to pay $70K+ for one. Waited a couple years and bought a used 2021 Model Y in 2024 with FSD for 'half off'. I'm glad I didn't eat that depreciation.
I'm just glad I didn't listen to (pretty much) everyone else who told me to wait - I would've had huge regrets. As cliche as it sounds, I really wish I could climb to the top of the hill tops and shout my love for the Cybertruck. The moment I drove this beautiful machine off the lot, I could immediately tell this was truly something special, something unique. God bless Elon's child for drawing a triangle on a piece of paper, if this story is true
, and the hard working engineers who made this gorgeous piece of engineering art. I am and will forever be a Cybertruck owner - if for whatever reason my current one dies, I'll 100% will be buying another one.
Another possible issue for the CT in South Korea is local competition in the EV pickup sector. The KGM Musso EV pickup is already selling well in South Korea, and is now being exported to Europe and Australia (but not, as far as I know, to the US or Canada).
My recollection is that used CTs were as low as the mid-60Ks before October 1, 2025. At that time, most Americans could get a brand new AWD CT for just $72,490 with the $7,500 tax credit. So used vehicles had to be priced below $70K to be worth considering.
From 3Q 2024 to 3Q 2025, quarterly production of "Other Models" fell again and again, by thousands of vehicles every quarter. For 4Q 2025, production rose very slightly, by 82 vehicles. That seems like a more positive signal -- at least it didn't get any worse.
The supply of used CTs could also increase in the future as 24-month and 36-month leases expire and those leased vehicles are returned to Tesla.
Good call on the leases. There wasn't a lease option when CT launched, it likely won't be until 2027 when there is any bulk of leased vehicles going back to Tesla. This is when I think the prices will go down considerably, I think the used market probably stays pretty flat in 2026 and then goes off the cliff sometime in 2027.