One of the first Tesla “foundation series” Cybertrucks was resold for nearly $400,000.
Less than 24 hours after the ad was up, it was taken down and the vehicle was listed as sold.
It took over four years for Tesla to deliver its first set of Cybertrucks to customers after originally unveiling the steel-bodied ute back in 2019. Tesla finally held its delivery event and handed over a handful of these very special vehicles to customers on November 30, 2023.
This week, less than three months after the first event, an early customer vehicle with a “foundation series” badge, surfaced on one of the largest used car listing websites in the US, and was spotted by Tesla enthusiast. This vehicle, with just 555 miles on the odometer was listed for $249,999. It’s been one of the first examples of the Cybertruck on the used car market, advertised for more than double what the owner of the new vehicle paid.
Tesla appears to not want their earlier customers to resell their Cybertruck so the seller was taking a risk in listing the vehicle. In the Cybertruck’s order agreement terms, Tesla states: “You understand and acknowledge that the Cybertruck will first be released in limited quantity. You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle’s delivery date.” The company goes on to list the penalty of up to $50,000 if the purchaser of the new Cybertruck is in breach of the resale terms. “Tesla may seek injunctive relief to prevent the transfer of title of the Vehicle or demand liquidated damages from you in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater. Tesla may also refuse to sell you any future vehicles.”
The Cybertrucks with the foundation series badging is a limited edition variant of the truck. For the extra $20,000 buyers have paid to get this over the Cyberbeast variant, it includes:
- Tesla’s full-self-driving software (FSD) package
- Vehicle-to-load power share option
- All-terrain tyres
- Laser etched badging
- Light bar
- Various Cybertruck-specific accessories
This variant was introduced only weeks after the original November delivery events and since then hundreds have been delivered to customers, including the example that was listed for sale.
It’s not unusual for new EV models to be purchased and flipped on the used EV market to those who may want to get early access to the vehicle. As more of these vehicles make it onto the road, and with demand of the Cybertruck being “off the hook” as the company’s CEO Elon Musk describes it, it’s likely that many more will make it onto the used market, seeking a hefty premium over the purchase price.
Analyst comment
Neutral news.
As an analyst, the resale of a Tesla Cybertruck for nearly $400,000 indicates strong demand for the vehicle. However, Tesla’s restriction on reselling may dampen the market for used Cybertrucks. With the limited edition “foundation series” variant becoming available on the used market, it is likely that more Cybertrucks will be listed for sale at a premium price due to high demand.
