Several used Cybertrucks are being listed for sale online at a premium, despite EV giant Tesla Inc's (NASDAQ:TSLA) attempts to curb the resale of its latest offering.
What Happened: While there are over 145 used Cybertrucks listed on the car shopping website CarGurus, Kelly Blue Book shows about 125. The high number of Cybertrucks listed for resale was first reported by Forbes.
A new Cybertruck currently starts at $79,990 for its all-wheel drive version and $99,990 for its higher-end Cyberbeast version. On ordering the vehicles now, customers can get them delivered only in 2025, ensuring demand and higher prices for even used Cybertrucks.
While many of these used Cybertrucks are priced at over $150,000, a few are priced even over $200,000. Most of these vehicles have traveled only a few miles, with some listed with a mileage lower than even 100 miles.
Tesla started delivering Cybertrucks in late November. According to data from automotive research company Kelley Blue Book, Tesla sold 2,803 Cybertrucks in the first quarter in the United States.
Earlier this year, it was reported that used Cybertrucks were resold for even $250,000. The resale value of the vehicle has dropped since, possibly due to production scaling up. Tesla plans to deliver 250,000 Cybertrucks per year, starting in 2025.
Tesla's Attempts At Preventing Resale: A clause within Tesla's motor vehicle agreement prohibits buyers from reselling the Cybertruck within a year of taking delivery. If a buyer still wants to sell, they must inform the company in writing and Tesla will buy it back from the driver.
Even if Tesla does not agree to buy back the vehicle, the driver will still need written consent from Tesla to resell to a third party, as per the clause. In case of breach of the said clause, the buyers could be charged a penalty of $50,000 or more.
"FAFO – we build vehicles for people who love and enjoy them. Not to flip for profit without adding any value. This shouldn't need to be said or enforced," Cybertruck lead engineer Wes Morrill wrote on X about the clause.
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