IN a much-anticipated move, Tesla is gearing up to deliver its futuristic Cybertruck on November 30th. However, the electric vehicle pioneer has strategically embedded protective measures in its purchase agreement to thwart customers looking to flip their Cybertrucks for a quick profit.
Nestled within the intricacies of Tesla’s purchase contract is a novel clause exclusively tailored for the Cybertruck. It explicitly prohibits buyers from parting ways with their prized electric trucks within the first year of purchase. Tesla may, at its discretion, make exceptions on a case-by-case basis, allowing for a buyback option that factors in a modest 25 cents depreciation per mile.
Should a Cybertruck owner wish to explore private sales, they must notify Tesla. In cases where the brand opts not to repurchase the vehicle, the sale can proceed. However, if failure to comply with these stipulations or if Tesla harbours reasonable suspicions of an impending breach, the brand reserves the right to intervene. This includes the potential refusal of the sale and pursuing legal avenues, with claims reaching the higher of either the anticipated profit from the sale or a fixed sum of $50,000 (RM235k).
While Tesla stands out for pioneering these anti-flipping measures, it aligns with a broader industry trend. Other automakers, including Porsche, Rolls-Royce, and General Motors, have also adopted strategies to discourage the immediate resale of limited-production vehicles. These strategies range from warranty constraints to enforcing mandatory short-term leases, reflecting a concerted effort within the automotive landscape to regulate the resale market, particularly for exclusive and high-demand models.