Tesla has announced the terms of sale for its highly anticipated Cybertruck before its release on November 30. According to Tesla’s terms and conditions, the first Cybertruck owners will be prohibited from reselling their vehicles during the first year.
The company has added a “For Cybertruck Only” section to its Motor Vehicle Order Terms, outlining the new rules. It states that customers cannot sell or attempt to sell the vehicle within the first year following its delivery date. Additionally, Tesla may seek injunctive relief to prevent the transfer of title or demand liquidated damages of $50,000 or the value received in consideration for the sale or transfer, among other measures.
However, if there is a valid reason for a customer to sell their Cybertruck, Tesla may agree to buy it back at the original price, with certain deductions for mileage and wear and tear. If Tesla does not wish to repurchase the vehicle, the customer may be allowed to sell it to someone else.
This news has raised questions regarding the resale of Tesla vehicles, especially given the subscription model for some of the software features. For example, the Full Self-Driving (FSD) feature, which can cost up to $199 per month, is not transferable to a new owner.
The Cybertruck, announced in 2019, is expected to disrupt the electric pickup truck market. While Tesla initially stated that the truck would start at $39,900, it is anticipated to be more expensive due to costly building materials. Tesla CEO, Elon Musk, emphasized that it would take some time for the Cybertruck to become a significant contributor to the company’s cash flow, with production expected to reach a quarter of a million by 2025.
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