Tesla $50k Penalty for Reselling Cars.
The highly anticipated release of the Tesla Cybertruck is nearly here on Nov. 30! Nevertheless, those hoping to make a profit by reselling the product got less than ideal news this weekend.
This weekend, passionate Cybertruck enthusiasts could be seen gawking as the modern Motor Vehicle Order Agreement Terms & Conditions showed up on Tesla’s website for the U.S. market. These conditions included intricate details linked to the resale of Cybertruck; customers pre-ordering the pickup must accept an obligation to not put it up for sale during the first 12 months following delivery date.
The survey conducted has demonstrated that a significant number of participants reported satisfaction with the new app.An examination undertaken revealed that a considerable amount of people expressed gratification with the fresh application.
“If you are the proud owner of a Cybertruck, you understand and acknowledge that the Vehicle will be released in limited quantities. It is important to note that you agree not to sell or attempt to sell your Vehicle within the first year following its delivery date. We thank you for your commitment to keeping the Cybertruck exclusive and appreciate your patience as we work to make it available to more people.”
In spite of what was stated before, should you require to sell the Vehicle within the twelve months following its receipt date due to exceptional circumstances, and Tesla approves that there is a just cause for breaking its no reseller rule, you concur to alert them in writing and provide Tesla with plenty of time to buy the Vehicle from you at its own choosing and at the acquisition cost noted on your Final Price Sheet minus $0.25 per mile driven, regular deterioration and tear, as well as the sum to fix the Vehicle up to Tesla’s Used Vehicle Cosmetic and Mechanical Standards.
If Tesla chooses not to acquire your Vehicle, you are only allowed to resell it to a third party after obtaining written authorization from Tesla. You agree that if you violate this clause, or if Tesla has a reasonable belief that you are about to breach this provision, Tesla may take legal action 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. In addition, Tesla may choose to deny you the sale of any future vehicles.
Given the immense demand (approaching a seven-figure number of bookings), it seems that early purchasers may be able to realize hefty profits in selling off the Cybertruck. As per Tesla’s announcements, their intention is to reach an annual production rate of 125,000 units sometime through 2024 or 2025. However, if and when they will be able to employ all of Giga Texas’ available plant capacity remains unknown.
It’s not unusual to see agreements of this kind in the auto industry when it comes to low-volume vehicles that are experiencing a high demand. Ford had such rules in place for its GT supercar, which caused some controversy, and the same thing happened with the early F-150 Lightnings.
