Tesla, led by Elon Musk, has introduced a unique restriction for customers anticipating the release of its first Cybertruck in November.
As per the company's terms and conditions, buyers of the Cybertruck are prohibited from reselling the vehicle during the initial year after purchase.
This restriction adds an unusual clause to the ownership experience, aiming to deter immediate resale activities in the early period following the Cybertruck's release.
In a section titled "For Cybertruck Only" to its Motor Vehicle Order Agreement, Tesla wrote, "You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date".
"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," it added.
As initially reported by Insider, Tesla has implemented an unconventional restriction for Cybertruck buyers, stipulating that they are not allowed to resell the vehicle within the first year of purchase.
However, the company has outlined exceptions in its terms and conditions. If a customer has a valid reason to sell the Cybertruck, Tesla may consider repurchasing it at the original price, deducting "$0.25/mile driven, reasonable wear and tear, and the cost to repair the Vehicle to Tesla's Used Vehicle Cosmetic and Mechanical Standards."
In cases where Tesla opts not to repurchase the vehicle, the company may permit the customer to sell it to another party. This unique resale restriction adds an intriguing dimension to the ownership experience of the highly anticipated Cybertruck.
Originally announced in 2019, the Cybertruck represents Tesla's entry into the electric pickup-truck market, promising to bring innovation to this segment. While Tesla initially quoted a starting price of $39,900, expectations are that the actual cost may be higher due to the use of expensive building materials in its construction.
(With Agency Inputs)