The Tesla Cybercab launch is one of those watershed moments that finally came around long after most of the world stopped caring if it would ever happen. The brand finally set this thing loose on the streets of Austin, for select passengers, with two seats and no steering wheel.
While traffic laws and regulation are still catching up, the Cybercab’s limited rollout is, at the least, evidence of how far Tesla’s onboard computer tech has come. Here’s how that’s going to help you save money on a used Model Y.
Tesla Is Switching Over To HW4 Software
The Tesla Cybercab has only two doors.Tesla
Tesla’s Cybercabs run on HW4, or Tesla Hardware 4, the newer iteration of the brand’s auto-pilot computer system. The tech comes with a number of advantages over HW3, but it basically comes down to HW4 being faster.
HW4 chips are quicker, so they process data quicker, meaning they can respond to situations on the road faster than would HW3. The new system has more processing power on tap, with 16 gigs of ram per chip, twice what you’ll find on an HW3 chip. The cameras are higher-resolution, at five megapixels to HW3’s 1.2-megapixel camera, the lenses are wider, and they’re better at seeing in low-light scenarios.
The Cybercab Is The Moment HW3 Officially Became Yesterday’s Tech
2024 Tesla Model Y Black Front Angled View Dune DrivingTesla
Cybercabs are far from the first Teslas to run on HW4. The tech has been around since early 2023, when it found its way into the Model S and Model Y, but the Cybercab signals a new era for the brand. The dream of true full-self-driving is closer than ever, just not for HW3 models.
Older Teslas Are Never Getting Unsupervised FSD
2021 – 2025 Tesla Model S exteriorTesla
When you first bought your 2021 Tesla Model 3, it was state of the art, right? The next big thing. Not just a car, but a cutting-edge piece of next-gen machinery. Now it’s out of date, obsolete. It’s just the nature of shiny new technology. Nothing stays novel forever.
2026 Tesla Model Y Standard rear 3/4 angle in white while drivingTesla
HW3 is technically capable of full-self-driving, but not unsupervised full-self-driving. In a Q1 earnings report, Elon Musk clarified that HW3 simply doesn’t have the bandwidth for it, and it’s unclear if it’s legally possible in the first place. As Musk put it, HW3 only has around one-eighth the memory bandwidth of HW4, meaning there’s a hard limit on how much thinking an HW3 system can do.
Taking a look through a list of Teslas, this is when each one was first equipped with HW4.
- Tesla Model S – January 2023
- Tesla Model X – January 2023
- Tesla Model Y – May 2023
- Tesla Model 3 – Late 2023
- Tesla Cybertruck – All Cybertrucks are equipped with HW4
Note that it might not be as simple as checking the model year. Thankfully, TeslaTracker will give you a quick readout of data on any Tesla VIN you want to punch into it, and let you know if a car is running HW3 or HW4.
HW3 Gets Minor Updates – But The Self-Driving Ceiling Is Permanent
Front shot of a 2021 Tesla Model Y, charging at homeTesla
To be clear, Tesla is not completely abandoning the HW3 platform. You’re still getting limited software updates with older Teslas. Improvements to features like automatic parking and lane-centering will continue, but you’re not going to be able to take your eyes off the road to watch Family Guy compilations on your phone. That’s strictly for the HW4 set.
Tesla Is Offering Credits For HW3 Drivers
2021 – 2025 Tesla Model X exteriorTesla
At one point, there was talk of retrofitting HW3-equipped cars with HW4 systems. As it turns out, that’s simply not feasible. Anyone who wants HW4 is going to have to trade their old Tesla in. Instead, HW3 drivers may be able to claim credits for their autopilot upgrades.
2023-2024 Tesla Model Y front 3/4 angle in red while parkedTesla
A user in the r/TeslaLounge subreddit reports trading in a 2022 Model S, with Enhanced Auto Pilot. Tesla’s first offer was $37,200, on a car that initially sold for $104,990. When the owner told Tesla that their car was equipped with Enhanced Auto Pilot, the trade-in offer was bumped to $40,300, coming out to a $3,100 buy-back on a $6,000 option.
One 2022 Model S Owner Got $40,300 On A $105k Car – Here’s What That Means For You
2024 Tesla Model X Plaid Gray Front Angle Driving w/ Mountainous BackdropTesla
If this tracks with other trade-ins, it means that a four-year-old Tesla might get you about a third of what you paid for it. Meanwhile, auto-pilot credits come out to a little over half of what you spent.
Your mileage may vary, of course. There’s no telling if a Cybertruck owner will get the same deal as a Model S owner, or a Model Y owner, or an X Plaid owner, and so on. All the same, these numbers suggest that the fall-off for older Teslas is getting pretty steep, and that it will only be amplified by the Cybercab roll-out and the announcement that HW3 will never be capable of true autopilot.
Older Teslas Are Simply Worth Less Now
2021 – 2025 Tesla Model S exteriorTesla
EVs have been notorious depreciators, while Teslas have tended to lose value more slowly than their competitors. This owes to a number of factors, the disappearing tax incentives among them, but rapid obsolescence is doing a number on 2021–2023 Teslas at the moment.
Checking in with our own price-tracking tool, we find older base-trim Teslas trending at the following prices.
Model
Trending Price
Original MSRP
Retained Value
2021 Model S
$37,312
$69,420
54%
2021 Model X
$38,685
$104,990
37%
2021 Model Y
$24,753
$39,990
62%
2021 Model 3
$22,706
$44,990
50%
The Tesla Model Y has managed to hold on surprisingly well. The Y was the eighth bestselling vehicle in the US last year, moving an estimated 317,800 units. Clearly, high demand and mainstream success have kept the used price relatively high. Other Teslas are lucky to sell for half their MSRP after five years on the road.
Used Prices Are Dropping But Is True Auto-Pilot Really Worth The Money?
Front quarter shot of a 2021 Tesla Model YTesla
Checking in with the used marketplace, we were able to find the following listings.
- A 48,475-mile 2021 Model 3 is selling for $16,495 in California after a recent $6,283 price drop.
- An 88,936-mile 2020 Model 3 Long Range is selling for $18,900 in Indiana after a recent $4,265 price drop.
- A 114,839-mile 2021 Model 3 Standard Range is selling for $13,900 in Florida after a recent $1,000 price drop.
- A 185,970-mile 2021 Model 3 Standard Range is selling for $12,500 in California after a recent $10,278 price drop.
- A 144,899-mile 2021 Model Y Long Range is selling for $18,999 in Florida after a recent $8,097 price drop.
The most important thing these numbers illustrate is that prices aren’t just dropping, they’re crashing. A quick search through our own marketplace finds that the vast majority of Tesla listings have seen recent price drops in the four-figure range.
There may be one major risk in buying a used Tesla at the moment. That is, you’ll be kicking yourself in a week when you find the same car, in the same condition, at the same dealer, listed for thousands less than you paid for it. To that we can say that you should show up ready to haggle. Dealers are trying to get rid of these cars as fast as possible, and will likely be willing to cut you a cherry of a deal.
How far can the Tesla Cybercab go on one full battery charge? Around 200 miles.Tesla
On the other hand, if real self-driving is the whole reason you’re attracted to Tesla in the first place, there’s not much you can do but buy a newer model. If that’s you, save your pennies and pay what the seller is asking. The HW4-equipped 2024 Model Y is still trending at around 75% of its initial MSRP, and the Model X is going for $68,264 from a sticker price of $79,990.
In the unlikely case of a mechanical issue, the Tesla Cybercab will let you know what steps it is taking to get itself sorted, and ‘the system’ will also summon you a new cab.Tesla
If you ask us, the prospect of unsupervised full-self-driving isn’t that appealing to a car owner. An automatic taxi? Sure. If all you need to do is get from point A to point B, a robo-cab will do it without the chit-chat. But buying one to keep? We’re not sure that we see the point, so we would call the recent price drops a net win for car buyers seeking a deal.
Sources: Tesla, r/TeslaLounge.
