American leading automaker Tesla has just enforced a ‘no resale’ policy for the highly awaited all-electric pickup, Cybertruck. Some interested buyers apparently spotted the new policy in the company’s Motor Vehicle Order Agreement Terms & Conditions for several Tesla Model 3/Y recent purchases, revealing that future owners will be forbidden to sell their Cybertrucks for a year from the delivery date.
No resale policy details
As you can see in the new “For Cybertruck Only” section in the buyers’ agreement, Tesla prohibits future owners from reselling the e-pickup truck for up to 12 months after the delivery date.
Exemption
Interestingly, Tesla may buy back the Cybertruck at its original price only if the customer presents a good and fair reason for the resale in a written request.
However, the Musk-led company will deduct $0.25 for every mile driven. It will also deduct reasonable wear and tear and repair costs from the original price, as noted by Insider.
If Tesla refuses to buy back the Cybertruck, it will grant permission to the customer to sell it somewhere else, like the dealer or other interested buyer.
Penalty
Tesla warned that any customer attempts to violate the terms and conditions under the Motor Vehicle Order Agreement could cost them more than the Cybertruck’s value.
SlashGear noted that Tesla will initially block the transfer of ownership legally. The highly software-integrated nature of its EVs will allow the company to block any shady transaction. If it is not possible, it will have no choice but to take more extreme actions.
Tesla stated that it could potentially pursue liquidated damages against the customers for $50,000 or” or the value received as consideration for the sale or transfer, whichever is greater.”
Even more, Tesla also emphasized its authority to ban guilty customers from buying its electric vehicles in the future.
Here’s an excerpt:
| “For Cybertruck Only: 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. Notwithstanding the foregoing, if you must sell the Vehicle within the first year following its delivery date for any unforeseen reason, and Tesla agrees that your reason warrants an exception to its no-reseller policy, you agree to notify Tesla in writing and give Tesla reasonable time to purchase the Vehicle from you at its sole discretion and at the purchase price listed on your Final Price Sheet less $0.25/mile driven, reasonable wear and tear, and the cost to repair the Vehicle to Tesla’s Used Vehicle Cosmetic and Mechanical Standards. If Tesla declines to purchase your Vehicle, you may then resell your Vehicle to a third party only after receiving written consent from Tesla. You agree that in the event you breach this provision, or Tesla has reasonable belief that you are about to breach this provision, 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 is set to launch the Cybertruck’s initial deliveries this November 30, stimulating excitement among 2 million+ interested buyers. However, the new resale policy can potentially discourage many reservation holders from pursuing the purchase.
Nonetheless, Tesla’s move to prohibit Cybertruck resale is crucial as the e-pickup will only be initially available in limited quantities despite the high customer demand.
