The New Tesla Cybertruck is generating significant anticipation as one of the most eagerly awaited vehicle launches in recent years. Tesla has set November 30th as the official start date for deliveries. However, early owners looking to profit by selling their electric trucks need to be cautious. There is a clause in the buyer agreement prohibits resale for 12 Months
A specific paragraph in the terms and conditions section of the sales agreement that buyers must sign when purchasing a vehicle from Tesla, states that the buyer agrees not to resell the electric truck for at least one year after taking delivery. Under certain circumstances, Tesla may allow the vehicle to be sold, but reserves the first right of refusal. Tesla issued a warning that in the event of a resale, they may demand liquidated damages of at least $50,000 or the value received for the sale or transfer, whichever is greater. Additionally, Tesla cautioned that they may block the reseller from purchasing any future vehicles from the company.
Terms and Conditions:
While such agreements are not uncommon for highly demanded vehicles, they are more often used for limited-production exotic cars. Ford, for example, had one for its GT supercar and filed a lawsuit against John Cena in 2017 after the actor and professional wrestler sold his car before a two-year time window. However, the two parties reached an out-of-court settlement the following year.
Tesla mentioned in the Cybertruck buyer agreement that production will be “released in limited quantity.” This clause is expected to drive up demand with a long waiting list. The company plans to increase volumes over time. CEO Elon Musk announced last month that the Cybertruck has received over one million reservations, and Tesla aims to increase production capacity to 250,000 units per year by 2025. The Cybertruck is manufactured at Tesla’s plant near Austin, Texas.
Delays Drive Waiting List:
The Cybertruck was initially introduced as a concept in 2019. Production was originally set to begin in late 2021, but several delays have pushed the timeline back. Some of these delays were caused by changes to the original specifications and the need to implement new technologies, as previously stated by Tesla.
One of the new technologies is a more energy-dense battery cell than what the company currently uses. It is unclear whether the new cell will enable Tesla to deliver more range than what has already been announced. During the 2019 reveal Tesla stated the Cybertruck would offer battery options 250, 300 and 500 miles.
Tesla also announced a starting price of $39,900 during the 2019 reveal, but this information was removed from Tesla’s website in 2021, indicating that the Cybertruck may have a different starting price once orders are accepted.