$50,000
Gag contract for the Tesla Cybertruck: There is a risk of high penalties if it is resold quickly
Buyers of the Tesla Cybertruck must promise not to sell the vehicle for one year
© Tesla / PR
The years-long wait is finally over: Tesla wants to deliver a Cybertruck to the first customers by the end of the year. But they have to guarantee that they really want to keep the car for the time being. If they don’t, Tesla threatens, among other things, an injunction.
The legendary Tesla keynote, where designer Franz von Holzhausen presented the supposedly indestructible bulletproof glass It’s been four years since Cybertrucks exploded with just one shot. At the time it was said that Tesla wanted to start delivering the unusual vehicle at the end of 2021. However, those who ordered quickly had to wait significantly longer. Only now does Tesla want to present the stainless steel monster to the first customers. But only if they agree to the new, much stricter purchase contract.
Tesla wants to contractually prohibit resales
Before things even get started, Tesla updated the purchase agreement for the Cybertruck. This contains strict rules that are intended to prevent the resale of the vehicles. It states: “You understand and acknowledge that the Cybertruck will initially be delivered in limited quantities. You agree that you will not sell or otherwise attempt to dispose of the vehicle within the first year of the delivery date.”
A clause follows: If you cannot avoid having to monetize your Cybertruck again, you are obliged to inform Tesla about it. You then have to give the company enough time to buy the car back at the original price, less kilometers driven, wear and tear and all kinds of damage.
Only if Tesla refrains from buying it back and gives written permission can you trade the Cybertruck as you wish. The new contract outlines the possible penalty if Tesla gets wind of a sale and doesn’t get involved. It states: “You agree that if you violate this provision, or Tesla has reasonable grounds to suspect that you are about to violate this provision, Tesla may seek an injunction stopping the transfer ownership of the vehicle, or recover liquidated damages from you in the amount of $50,000 or the value received in consideration for the sale or transfer, whichever is greater.”
Tesla also reserves the right to exclude customers who have not adhered to the contract from purchasing additional vehicles.
As the trade magazine “Electrek” writes, it is not the first time that new Tesla vehicles have been resold at a high profit shortly after publication. In 2017, one of the first Model 3 models made headlines when it was listed on relevant sales platforms shortly after delivery for $150,000 – the list price at the time was $56,000.
Other car manufacturers also want to stop the trade
The phenomenon that manufacturers want to decide on the resale of customer property is not new: especially with exotic vehicles, it is common practice that the cars cannot be sold immediately. Some manufacturers even go further: Ferrari, for example, doesn’t like it when cars are handled carelessly or painted in an undesirable color. Even Justin Bieber should no longer be allowed to buy a new car from the manufacturer because of such violations.
While it has now become common practice for rare super sports cars not to be allowed to be traded in, the Cybertruck is breaking new ground, so to speak: The heavy SUV is not limited edition, but is intended to be a conventional series vehicle. In this market, there are usually fewer contracts that regulate resale.
“Electrek” has another suspicion as to why Tesla included the clause so clearly in the contract: The long holding period could also be intended to prevent other manufacturers from buying a car through third parties for research purposes, speculates author Jameson Dow. It is quite common in the industry for vehicles with new technology to be quickly dismantled by other manufacturers in the research department.