The long-awaited market launch of the Tesla Cybertruck on Nov. 30 is just around the corner. But anyone who planned on reselling theirs for a quick buck got some bad news this weekend.
This weekend, avid Cybertruck-watchers spotted the recently updated Motor Vehicle Order Agreement Terms & Conditions for the U.S. market on Tesla's website. And in that document, there are now Cybertruck-specific details about resale: those who purchase the pickup will have to agree not to sell the vehicle within the first year of their delivery date.
From that document:
"For Cybertruck Only: You understand and acknowledge that the Cybertruck will first be released in limited quantity. You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date.
Notwithstanding the foregoing, if you must sell the Vehicle within the first year following its delivery date for any unforeseen reason, and Tesla agrees that your reason warrants an exception to its no reseller policy, you agree to notify Tesla in writing and give Tesla reasonable time to purchase the Vehicle from you at its sole discretion and at the purchase price listed on your Final Price Sheet less $0.25/mile driven, reasonable wear and tear, and the cost to repair the Vehicle to Tesla’s Used Vehicle Cosmetic and Mechanical Standards.
If Tesla declines to purchase your Vehicle, you may then resell your Vehicle to a third party only after receiving written consent from Tesla. You agree that in the event you breach this provision, or Tesla has reasonable belief that you are about to breach this provision, 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."
Considering the high demand (based on a high seven-digit number of reservations), the early buyers would likely be able to sell the Cybertruck for a huge profit. At some point in 2024 or 2025, the company has claimed production volume might exceed 125,000 units annually, but it's not clear when Tesla will be able to utilize its installed manufacturing capacity at the Giga Texas plant.
Such agreements are not uncommon in the auto industry for low-volume vehicles that have a great deal of early demand. Ford put such rules in place for its GT supercar, leading to some high-profile incidents in some situations, and similar "flips" happened with early F-150 Lightnings as well.