Tesla has introduced a unique clause in its Motor Vehicle Order Agreement for the Cybertruck, restricting buyers from reselling the vehicle within the first year of delivery. This move comes as Tesla prepares to release the Cybertruck in limited quantities, aiming to regulate its initial market presence.
According to page 3 of the Agreement, which includes the Vehicle Configuration, Final Price Sheet, and Terms & Conditions, Cybertruck purchasers are bound by these new resale restrictions. The Terms & Conditions, effective from the order date, explicitly state that owners cannot sell or attempt to sell the Cybertruck within the first year following its delivery.
However, Tesla acknowledges that unforeseen circumstances might necessitate an early sale. In such cases, the owner is required to notify Tesla in writing, allowing the company the option to repurchase the vehicle.
The buyback price would be based on the original purchase price listed on the Final Price Sheet, minus $0.25 per mile driven, deductions for wear and tear, and any repair costs to meet Tesla’s Used Vehicle Cosmetic and Mechanical Standards.
If Tesla decides not to repurchase the vehicle, the owner can then sell it to a third party, but only after obtaining written consent from Tesla. This policy reflects Tesla’s effort to control the initial distribution and resale market of the much-anticipated Cybertruck.
Tesla has also outlined penalties for those who breach this agreement. The company may seek injunctive relief to prevent the transfer of the vehicle’s title or demand liquidated damages amounting to $50,000 USD or the value received from the sale or transfer, whichever is higher. Additionally, those who violate these terms may face a ban from purchasing future Tesla vehicles.
This stringent policy underscores Tesla’s intent to maintain control over the initial phase of the Cybertruck’s release, ensuring that the limited first batch of vehicles remains exclusive and also stops resellers and scalpers from trying to profit off the first year of deliveries.
Tesla will be holding its Cybertruck delivery event on November 30, 2023. Stay tuned!
