Tesla has implemented a new policy that prohibits owners from reselling their Cybertruck truck within the first years after purchase. This clause is listed on Tesla’s website and aims to prevent early adopters from quickly flipping their Cybertruck for a profit.
The highly anticipated Cybertruck is one of the most hyped vehicle releases of 2023, so Tesla likely wants to discourage owners from taking advantage of the initial demand. A similar no-resale period applies to Ford’s GT supercar.
This policy makes sense from Tesla’s perspective as creator of the product. For example, last month the Petersen Automotive Museum auctioned off an early Cybertruck VIN for $400,000 – well above market value.
While owners may be disappointed, Tesla likely wants to ensure Cybertrucks go to buyers who actually want them rather than speculators hoping to capitalize on short-term demand. The policy aims to reward Tesla’s loyal customers.
Here is the simplified version:
- You cannot sell or otherwise attempt to sell your Cybertruck within the first year of ownership.
- If you must sell your Cybertruck within the first year for an unforeseen reason, you must notify Tesla in writing.
- Tesla has the option to purchase your Cybertruck from you at the original purchase price minus $0.25 per mile driven, reasonable wear and tear, and the cost to repair the vehicle to Tesla’s standards.
- If Tesla declines to purchase your Cybertruck, you may only resell it to a third party with Tesla’s written consent.
- If you breach this provision, Tesla may seek injunctive relief to prevent the sale of the vehicle or demand liquidated damages from you in the amount of $50,000 or the value received as consideration for the sale, whichever is greater.
- Tesla may also refuse to sell you any future vehicles.