Tesla is implementing strict measures to curb the resale of its highly anticipated Cybertruck within the first year of ownership. Early buyers looking to profit from the vehicle’s initial scarcity could face significant penalties, including a potential $50,000 fine.
The first Cybertruck deliveries are scheduled for a special event at the end of November 2024, marking the beginning of a phased rollout. Mass production isn’t expected until 2025, creating a potential market for opportunistic resales. To address this, Tesla has updated its Motor Vehicle Order Agreement with a specific “Cybertruck only” clause. This clause stipulates that buyers agree not to sell or attempt to sell their Cybertruck within the first year of ownership.
This new clause outlines potential consequences for unauthorized resales. Tesla reserves the right to seek legal action to prevent the transfer of the vehicle’s title. Furthermore, the company may demand liquidated damages of $50,000, or the sale price, whichever is higher. As an added deterrent, Tesla may refuse future vehicle sales to those who violate the agreement.
Tesla CEO Elon Musk behind the wheel of a Cybertruck.
Under certain circumstances, Tesla may grant permission for resale within the first year. If the customer demonstrates a valid reason, Tesla may repurchase the Cybertruck at the original purchase price, less $0.25 per mile driven, reasonable wear and tear, and repair costs to meet Tesla’s used vehicle standards. Alternatively, Tesla might permit a third-party sale, but only with prior written consent.
The Cybertruck was originally unveiled in 2019, generating substantial interest and over a million pre-orders, each accompanied by a $100 deposit. The initial starting price was announced as $39,900. However, Tesla removed pricing information from its website in 2021, leading to speculation about a potential price increase.
More details about the Cybertruck’s pricing and specifications are anticipated at the official launch event on November 30, 2024.
