Yahoo Autos Tesla Removes Cybertruck Anti-Flipping Clause
As of last week, the Tesla Cybertruck's motor vehicle order agreement had a very interesting clause. If you sold one of your early build trucks within the first year of ownership without permission from the automaker, Tesla reserved the right sue you for $50,000. Sometime this week, however, Tesla quietly deleted that clause from the contract.
Over the last few years, owners of heavily hyped EV trucks like the GMC Hummer, Rivian R1T, and Ford F-150 Lightning turned to online auction platforms and elsewhere to make a quick buck. Routinely, sale prices of these trucks far outstripped MSRP, so if you were able to get one for sticker, there was a great opportunity. Now, though, this sort of thing has subsided as new car values are declining from their pandemic-era peaks, and supply has been catching up with demand. That said, there could be a lot of demand for the Cybertruck.
Deliveries of the Cybertruck are set to begin this month, and Tesla CEO Elon Musk has signaled that the production ramp-up for the pickup will be slow. Tesla claims over 1 million reservations for the Cybertruck, though you can hold your spot in line with just a refundable $100 deposit. So the level of demand for the pickup is unclear.
While much about Tesla and the Cybertruck is unusual, an attempt to stave off flippers isn't. Ferrari did it in the Nineties with the F50 and Porsche will do so with the much-hyped 911 S/T, requiring customers lease the car for 12 months before purchase.
For now, though, it's moot. And we won't be surprised when the first Cybertruck shows up for auction listed by an opportunistic seller.
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