Tesla has included a new provision in its purchase agreement, applicable only to Cybertruck buyers, that restricts the resale of the coveted vehicle within the first year of ownership. This clause prohibits buyers from selling their newly acquired vehicle within the first year without explicit permission from Tesla, failure to comply with this may result in legal action against the seller. In anticipation of the first Cybertruck deliveries scheduled for November 30, the company recently updated its Motor Vehicle Order Agreement.
According to the revised terms circulating on social media, Tesla reserves the right to seek legal remedies, such as injunctions, to prevent the transfer of the vehicle’s title if buyers violate the resale provision. Alternatively, Tesla may demand liquidated damages in the amount of $50,000 or the value received for the sale or transfer, whichever is greater. The terms also note that individuals who violate these terms may face restrictions on future vehicle purchases from Tesla.
Tesla has stated that it might consider exceptions for individuals wanting to sell their Cybertruck within the first year, but this is contingent on obtaining written consent. If approval is granted, the company will either repurchase the vehicle at a reduced price, factoring in a deduction of $0.25 per mile driven, along with considerations for wear and tear and any necessary repairs or permit the owner to resell the truck to a third-party buyer.
With the one-year resale prohibition, Tesla aims to curb the creation of a speculative market around the Cybertruck and ultimately maintain control over the distribution and pricing of the vehicle. This approach is in line with the company’s commitment to creating a fair and transparent market for its products.
The resale policy has been criticized by some Cybertruck pre-order customers who objected to the restriction of their ability to sell the vehicle. Tesla defends its stance by citing the need to protect consumers and ensure the availability of the Cybertruck for genuine enthusiasts. In addition to the resale provision, Tesla has introduced further restrictions on ownership of the Cybertruck. Owners are prohibited from using the vehicle for commercial purposes and from modifying it in any way that could affect performance or safety. These restrictions are intended to protect Tesla’s brand image and ensure that the Cybertruck is utilized as intended.
As the highly anticipated Cybertruck prepares for release, there is much speculation about the impact of Tesla’s resale policy on the market for the vehicle. Some analysts believe the policy could deter potential buyers from pre-ordering, while others believe it will only have a minor impact on demand. The true ramifications of the resale policy will only become apparent in the coming months and years, but one thing is certain: Tesla is unwavering in its commitment to preventing the Cybertruck from being exploited for quick profits.