An early Tesla Cybertruck unit recently appeared for sale on Cox Automotive’s wholesale site, Manheim (via Cybertruck’s Owner’s Club). It sold at auction for more than twice the retail price, marking the winning bid from a Porsche dealership.
Tesla Cybertruck sold for more than twice its retail price
Tesla’s all-electric pickup Cybertruck was auctioned for $244,000 on February 28, indicating a significant increase from the particular version’s base price of approximately $120,000.
The Cybertruck under discussion was one of the early Foundation Series launch editions in all-wheel drive (AWD) configuration.
Earlier this month, a similar Cybertruck version was auctioned for nearly $249,999 on a prevalent American car listing website, CarGurus.
About the buyer
The winning bid came from Porsche of South Orlando, a Porsche dealership. It remains unclear if the dealership has plans to resell the electric pickup on the lot.
It is also possible that the Porsche dealership bought it for Porsche, as it is common for automakers to purchase new Tesla EVs upon release to reverse-engineer them and learn from them.
Tesla’s no-resale policy
These recent Cybertruck flipping incidents are the primary reason why the Musk-led electric automaker relaunched the no-resale clause in its Cybertruck Motor Vehicle Purchase Agreement in early December 2023.
Tesla warned Cybertruck owners of a $50,000 penalty once they violate the no-resale policy:
“You understand and acknowledge that the Cybertruck will first be released in limited quantity. You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date. Tesla may seek injunctive relief to prevent the transfer of title of the Vehicle or demand liquidated damages from you in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater. Tesla may also refuse to sell you any future vehicles.”
Tesla
The high demand for the Tesla Cybertruck resulted in customers buying it at a price higher than its retail value, indicating their unwavering determination to own the stainless steel e-pickup. That said, it is unsurprising that many customers settle to buy from resellers despite the substantial price gap. Therefore, Tesla must strive harder to monitor and prevent such resale attempts.
