Tesla Quietly Removes No-Resale Clause From Cybertruck Sales Agreement

Tesla, Inc. TSLA quietly removed the no-resale policy from its sales agreement for the Foundation Series Cybertruck on Tuesday. Previously, this policy prohibited buyers from reselling their Cybertrucks within a year of delivery, with penalties of $50,000 or more for violations, reported Teslarati.

The change coincides with Tesla’s broader release of the Foundation Series Cybertruck, which is now available for direct purchase through the company’s online configurator instead of requiring a reservation.

Despite the policy’s previous enforcement, some buyers risked reselling their Cybertrucks, and many criticized the requirement.

Tesla had also banned certain resellers from purchasing its vehicles again, a stipulation now removed from the agreement.

Also Read: Elon Musk Denies ‘Donating’ Tesla Cybertruck To Ramzan Kadyrov After Russian General Showed Off Truck With Mounted Gun And Hinted At Its Use In War

“Moving forward, any future orders placed by you will be cancelled without a refund of the $100 reservation or $250 order fee as official notification has been provided to you regarding this matter,” wrote Tesla in an email to a person who resold a Cybertruck in March, Teslarati added.

Tesla is expected to keep building the Foundation Series launch edition of the Cybertruck for up to a year after the initial delivery event last November.

The automaker has been increasing Cybertruck production at its Gigafactory in Austin, Texas.

Recently, the Cybertruck has been recognized as the top-selling vehicle in the U.S. priced above $100,000 for the past two months, Teslarati added.

Price Action: TSLA shares are trading down by 0.24% to $220.56 premarket at last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Read Next:

• Putin Ally Unveils Tesla Cybertruck With Machine Gun, Invites Musk To Russia