Tesla does a U-turn on Cybertruck resale ban, reports show

WASHINGTON: Tesla has backtracked on a decision to prevent buyers of its stainless-steel Cybertruck from reselling the electric vehicle within the first year of ownership, according to industry media reports.

Tesla had previously said it wanted the right to repurchase any Cybertrucks offered on the open market and would sue owners or demand any profit made from the resale of the unusual pick-up.

It now appears that after various media began reporting on the resale ban, the clause in the contract has been dropped without further explanation.

A section titled “For Cybertruck Only” in Tesla's Motor Vehicle Order Terms had originally threatened a heavy fine as punishment for reselling.

2023-11-21 23_27_39-dpa news _ Photos ( Release 2.17.7 ) - Brave

"Tesla may seek injunctive relief to prevent the transfer of title of the vehicle or demand liquidated damages from you in the amount of US$50,000 or the value received as consideration for the sale or transfer, whichever is greater," the agreement said. "Tesla may also refuse to sell you any future vehicles."

Austin, Texas-based Tesla has not yet commented officially on the reports in Automotive News and Business Insider.

Industry experts said the clause would be unlikely to hold up in court anyway and its removal may encourage "scalpers", people who buy a high-demand product early to sell it on at a profit.

The reversal has suggested to some analysts that the electric vehicle maker headed by Elon Musk doesn't expect to produce large volumes of the Cybertruck, which it originally promised to bring out in 2021.

Automakers rarely forbid customers from reselling vehicles except when small production runs inflate prices on the secondary market.

Ford sued wrestler John Cena in 2017 for selling on a GT supercar within a few weeks. Both sides later settled.

Tesla has planned to deliver the first Cybertruck in the United States on Nov 30.
Autos Tesla