Porsche Dealer Selling Pre-Owned Tesla Cybertruck for $290K

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Despite Tesla’s efforts to prevent Cybertruck owners from reselling their electric trucks, a Porsche dealership in South Orlando has managed to acquire one.

Retailing for an outrageous $289,999, the ultra-rare Foundation Series with only 77 miles under its belt was allegedly procured through the online auction platform Manheim. At a jaw-dropping final price of $244,000, this exclusive model fetched more than double its original asking amount.

The Cybertruck was recently listed on Manheim by givemethevin.com, who successfully acquired the coveted Tesla after making numerous attempts to purchase it. CEO John Clay Wolfe revealed in a video on his YouTube channel that they had reached out to 30 owners of the Cybertruck with an offer to buy their vehicle, but all of them turned down the proposal due to concerns about a potential resale penalty of $50,000 imposed by Tesla.

Does GivemetheVIN have legal exposure from Tesla from auctioning off the first cyber truck?

“We continued to increase our offer until we eventually secured one,” stated Wolfe. The car was first bought for $210,000, resulting in a neat profit of $34,000 for the company.

According to the Cybertruck sales contract, individuals who choose to sell their vehicle will face a penalty of $50,000 or “the value received as consideration for the sale or transfer, whichever is greater.” In other words, the initial seller runs the risk of forfeiting the substantial profit they earned.

According to fellow YouTuber DennisCW, he has consulted with multiple lawyers regarding the enforceability of this rule, and the consensus is that it is not enforceable. In his words, “It says liquid damages, and it’s really hard to prove that with a resale.” He also mentions that he is unsure if Tesla has taken legal action against individuals for violating this rule, but they have been known to ban customers from buying their vehicles. He believes that it would not reflect well on Tesla to sue a large number of their own customers.

The recent Manheim auction featured a Cybertruck that was successfully sold for $244,000. The winning bidder appears to be Porsche South Orlando.

According to Wolfe, the Cybertruck’s success cannot be sustained indefinitely, and he used the launch of the GMC Hummer EV Pickup as evidence. Upon its revival, the electric Hummer had some Edition 1 models fetching prices of up to $325,000. However, interest has since waned and the demand for these vehicles has significantly decreased. As time goes on, it is likely that Tesla’s highly anticipated new vehicle will experience a similar decline.

In order to deter individuals from reselling their brand new vehicles, Tesla could follow the example set by Porsche. Customers of the American 911 S/T will be required to lease their cars for a period of 12 months before being able to officially purchase them, thus eliminating the potential for opportunistic flippers to profit off of a car that is designed specifically for the enjoyment of enthusiasts.