San Francisco, November 13: Elon Musk-run Tesla, which is set to release its first Cybertrack this November, has stated that customers purchasing Cybertruck can not resell it during the first year, according to the company's terms and conditions. In a section titled "For Cybertruck Only" to its Motor Vehicle Order Agreement, Tesla wrote, "You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date".
"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," it added. The news was first reported by Insider. Elon Musk-Run Tesla Likely To Get Lower Tariffs on Imported Electric Vehicles As Indian Government Considers Request From Company: Report.
However, the company mentioned if a customer has a good reason to sell their Cybertruck, Tesla may agree to buy it back at the original price minus "$0.25/mile driven, reasonable wear and tear, and the cost to repair the Vehicle to Tesla's Used Vehicle Cosmetic and Mechanical Standards". Hyundai Motors Breaks Ground on South Korean EV Plant With Goal Of 200,000 Annual Production Capacity.
If Tesla declines to buy the vehicle, the company may agree to let the customer sell it to someone else. The Cybertruck, which was first announced in 2019, is Tesla's first new product in years, and it is expected to shake up the electric pickup-truck market. Tesla initially stated that the truck would start at $39,900, but it is expected to be much more expensive due to expensive building materials.
(The above story first appeared on LatestLY on Nov 13, 2023 06:59 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).