Tesla is setting a stern precedent with a new Cybertruck Only clause that bars buyers from reselling their newly acquired vehicle within the first year without explicit authorization. The electric car pioneer, anticipating the first Cybertruck deliveries on Nov. 30, has updated its sales agreement to include strict resale provisions.
Under this clause, Tesla reserves the right to pursue legal action, including seeking an injunction to prevent ownership transfer, against buyers violating the resale restriction. Additionally, offending sellers may face a hefty penalty, either a fine of $50,000 or the entire resale value, whichever is greater, as reported by Engadget. To further deter potential resellers, Tesla warns that such violators might be barred from future car purchases directly from the company.
Tesla, however, hints at flexibility by suggesting it may consider exceptions for those seeking to sell their Cybertruck within the first year. To proceed, buyers must obtain written consent from Tesla. In the event of approval, the company offers two alternatives: a buyback option at a reduced price, accounting for mileage at $0.25 per mile, along with depreciation and necessary repair costs, or permission to resell to a third-party buyer.
This stringent resale policy is part of Tesla’s strategy to protect the exclusivity and rarity of the Cybertruck, set to be initially delivered to a select few customers. Mass production is not anticipated until 2024, prompting Tesla to take proactive measures against potential opportunistic resellers looking to capitalize on the unique vehicle. Tesla’s bold move signals a shift in how automakers safeguard the perceived value and scarcity of their innovative products in an evolving market.