Tesla Imposes New Clause to Prevent Resale of Cybertruck
Tesla has recently introduced a new clause in its purchase agreement for the highly anticipated Cybertruck, aimed at preventing buyers from selling the vehicle within the first year without explicit permission from the company. The clause comes as a strategic move to curb potential escalation in price due to its rarity.
With the first Cybertruck deliveries scheduled to begin on November 30, Tesla has updated its Motor Vehicle Order Agreement ahead of the release. The resale provision states that if buyers breach the clause, Tesla reserves the right to seek injunctive relief to prevent the transfer of title or demand liquidated damages of $50,000 or the value received for the sale or transfer, whichever is greater. Additionally, offending resellers may be barred from purchasing vehicles from Tesla in the future.
However, Tesla is allowing exceptions to this clause under specific circumstances. Buyers who wish to sell their Cybertruck within the first year can do so, but only after obtaining written consent from Tesla. If consent is granted, the buyer can either sell the vehicle back to Tesla at a reduced price or resell it to a third-party buyer.
The limited supply and rarity of the Cybertruck compelled Tesla to implement this measure in order to prevent resellers from taking advantage of the situation. The company aims to ensure that the vehicle reaches genuine enthusiasts rather than those looking to capitalize on its scarcity.
The Cybertruck, known for its futuristic design and all-electric capabilities, will initially be released to a select number of customers. Mass production of the vehicle is not expected until 2024, making it a highly sought-after item among Tesla enthusiasts.
Tesla’s decision to include this resale restriction underscores the company’s commitment to maintaining control over the market and ensuring that individuals who purchase the Cybertruck do so with the intention of using it for personal use rather than reselling it for profit.
As the November 30 release date draws closer, Tesla is expected to see a surge in Cybertruck orders. With the new resale provision in place, buyers and potential resellers will need to carefully consider the implications of their actions before attempting to profit from the vehicle’s scarcity.
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