This Tesla Cybertruck sold for over double its regular price. Check details

A Cybertruck with a base price of around $120,000, sold for an eye-watering $244,000 to Porsche of South Orlando, more than double its manufacturer's
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Tesla Cybertruck
The Cybertruck offers a total combined output of 845 hp when its Beast Mode is activated. The front-drive unit alone makes around 300 hp. And while it may be large, Tesla says Cybertruck can accelerate from 0 to 60 mph in 6.5 seconds.
Tesla Cybertruck
The Cybertruck offers a total combined output of 845 hp when its Beast Mode is activated. The front-drive unit alone makes around 300 hp. And while it may be large, Tesla says Cybertruck can accelerate from 0 to 60 mph in 6.5 seconds.

In the world of automotive auctions, a recent sale has turned heads and raised eyebrows, highlighting the fervor surrounding electric vehicle (EV) phenomenon, the Tesla Cybertruck. Listed on Cox Automotive's wholesale platform, Manheim, this particular Cybertruck roared past its manufacturer's suggested retail price (MSRP) of approximately $120,000, commanding a jaw-dropping $244,000 bid from Porsche of South Orlando.

The sale has raised questions about what happens to the excess profit and whether this auction will influence other Cybertruck owners looking to cash in on their vehicles. Tesla's unique clause in the Cybertruck sales paperwork adds another layer of complexity to the situation.

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The clause requires buyers to request a buyback from Tesla if they wish to sell their truck. Only if Tesla declines to buy back the truck can the buyer then sell it themselves. Violating this clause could result in a $50,000 penalty imposed by Tesla or potentially the entire profit made from the sale, whichever is greater. This clause adds a layer of complexity to the resale market for Cybertrucks and raises questions about its enforceability and legality.

Also Read : Tesla Cybertruck owners complain of rusting. Yes, already

Despite this clause, there is no recorded instance of Tesla enforcing this policy, leaving the potential consequences of non-compliance uncertain. The $124,000 surplus generated from this Cybertruck sale has ignited speculation about the actions Tesla might take, if any, to assert its control over resale prices.

The sale of the Cybertruck has also highlighted Tesla's successful efforts to eliminate markups and prevent resale for profit, contrasting with other automakers' struggles to achieve the same goal. The Cybertruck's resale value and the implications of Tesla's resale policy continue to be topics of interest and speculation within the automotive community.

This landmark sale has the potential to serve as a catalyst for other Cybertruck owners looking to capitalise on the soaring demand for these unique vehicles. If a trend emerges, Tesla may find itself facing a wave of similar resale attempts, potentially prompting the company to take action to protect its pricing strategy.

This sale also highlights the effectiveness of Tesla's strategy to eliminate markups and deter flippers, in stark contrast to the challenges faced by traditional automakers such as GM, Ford, and Stellantis in controlling resale prices of their vehicles.

The future of the Cybertruck resale market remains uncertain, with questions lingering about Tesla's willingness to enforce its policies and the legal implications of non-compliance. For now, the eyes are fixed on Tesla, awaiting its next move in this electrifying saga.

First Published Date: 29 Feb 2024, 09:23 AM IST
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