May 20, 2024 10:33 am

Tesla forbids Cybertruck buyers to sell for a year or risk a $50K fine– Report

Tesla’s stringent directive on Cybertruck sales raises eyebrows. Purchasers of Tesla’s highly anticipated electric pickup now face a binding agreement preventing resale to third parties.

The updated Motor Vehicle Order Agreements now feature an exclusive section for Tesla forbids Cybertruck buyers, mandating compliance with a “no reseller” policy.

Buyers commit not to sell the vehicle within the initial year post-delivery, with Tesla reserving the right to seek injunctive relief or demand damages, potentially reaching $50,000.

Further consequences may extend to denying future vehicle purchases to those breaching the agreement. Scheduled Cybertruck deliveries are set to commence on November 30th.

In cases where unforeseen circumstances force an early resale, buyers can inform Tesla in writing. Upon validation of the reason, Tesla may repurchase the vehicle, albeit at a reduced rate of $0.25 per mile driven.

Tesla forbids Cybertruck, Only if Tesla rejects repurchases can the owner, with written consent, proceed to resell the truck to a third party.

Emphasizing limited initial release quantities, the new rules underscore Tesla’s direct-to-consumer sales approach. The company retains the authority to unilaterally cancel orders suspected of intending vehicle resale, retaining associated fees.

Complications in Tesla resales already exist due to software features linked to user accounts, particularly those related to self-driving capabilities.

Criticism has surfaced regarding Tesla’s move to restrict reselling, with sentiments like, “If you can’t sell it, you don’t own it,” expressed by Zack Nelson, owner of the tech review channel JerryRigEverything, on X.

Cybertruck pricing remains undisclosed, with the first delivery event scheduled at Gigafactory Texas on November 30th.

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