Tesla Cybertruck Market Madness: Why Are Used Ones Selling for Double the Price?

Popular New Vehicle, Cybertruck
Used Ones Valued at Twice the Price of New Ones
Resale Ban Proves Ineffective

Despite numerous quality controversies, a high demand for Tesla’s Cybertruck exists. Elon Musk, the CEO of Tesla, reported during the third-quarter earnings announcement last year that the “accumulated orders for the Cybertruck have exceeded one million units.” Recently, there have been talks in the industry that the accumulated orders have jumped to 1.8 million.

However, Tesla’s production capacity for the Cybertruck is not yet mature and is woefully inadequate to meet the demand. Consequently, used ones are being resold at over twice as high as new ones. Tesla had anticipated this and imposed a strong resale ban clause at the time of the Cybertruck contract, but it has reportedly had no significant effect.

Sold at Auction for Over $244K
Dozens Have Contacted After Listing

Foreign media outlets such as Carscoops and Electrek reported that the Cybertruck Foundation Series, priced at $120,000, was resold at more than double the price. According to the article, an anonymous car owner who listed the Cybertruck on the local auction platform, Manheim Auction Platform, said, “Dozens of people have contacted me to buy the vehicle.” Currently, in the United States, some cybertruck owners are making substantial profits in this way. A Cybertruck Foundation Series was auctioned off for $244,500 at a wholesale auction held in Dallas, Texas, on February 28 (local time). This is more than twice the price of a new car. The vehicle’s buyer was reportedly a Porsche dealership, not an individual.

Tesla Cybertruck’s resale ban clause

Looking at the Resale Ban Clause
Cannot Sell Within One Year of Delivery

John Clay Wolfe, the founder and owner of the used car sales platform GiveMeTheVin, also said he bought the Cybertruck under the company name for $200,000. Previously, he resold another Cybertruck to a dealer for $220,000.

Meanwhile, Tesla added a clause restricting resale to the Cybertruck purchase agreement, which became an issue. The terms included “will not sell the vehicle within one year from the date of vehicle delivery” and “if there is a valid reason for resale, you can get approval from Tesla and sell it back to Tesla.”

Warning of Huge Consequences for Violation
No Known Cases of Enforcement

It specifies that when violated, damages can be claimed under the pretext of a penalty of $50,000 or the resale profit, whichever is greater. The agreement also included a clause banning future purchases of Tesla vehicles. This content was deleted a few days after the announcement and then added again to the Foundation Series’ contracts.

John Clay Wolfe said, “As soon as the delivery of the Cybertruck began, I received a flood of sales proposals from owners,” but also mentioned that “many hesitated to sell because of the resale ban clause.” It is reported that there are no known cases where Tesla has investigated a Cybertruck resale and enforced the contract accordingly.