What in the world has just occurred? We drifted into sleep only to awaken to this: a Tesla Cybertruck fetching an astonishing $244,000, more than double the price of the Foundation Series.
To curb car flipping, Tesla prohibits owners from selling their brand-new Cybertruck during the initial year of ownership. Nevertheless, someone has done just that.
The vehicle appeared for sale on Cox Automotive’s website, sparking a bidding frenzy that soared to $244,000. This is the sum someone was willing to pay to acquire the Tesla Cybertruck.
Reportedly, the buyer is a Porsche dealership from South Orlando, Florida, which clinched the winning bid on February 28. The Cybertruck they purchased was the Foundation Series, the sole version currently being delivered by Tesla, priced at $120,000.
The arithmetic indicates that something must have gone awry, resulting in a rapid escalation to an exorbitant $244,000. This is more than double the original purchase price for the owner to drive the model home. Moreover, they have sold a brand-new vehicle, which likely would have been delivered to them no earlier than November 30.
Whether the transaction will ultimately materialize remains uncertain, given Tesla’s prohibition on owners selling their trucks, as stipulated in the purchase contract. Owners are required to initiate a buyback if they wish to part with the vehicle.
The owner may proceed with the sale of the Cybertruck only if Tesla declines the buyback. It remains unclear whether the seller had already undergone this procedure before auctioning off the electric truck.
Otherwise, they could find themselves liable for the $50,000 penalty imposed by Tesla or the consideration received for the sale or transfer, “whichever is greater.” This implies that the entire profit from the sale, amounting to $124,000, might end up in Tesla’s coffers.
Tesla reportedly boasts a lengthy waiting list of customers eager to purchase a Cybertruck, with firm orders purportedly surpassing 2 million and waiting times stretching up to five years.
Deliveries commenced on November 30 at a special event, where ten customers received their gleaming new stainless steel electric pickup trucks at the Giga Texas.
One thing is certain: we will be closely monitoring Porsche Orlando, the dealership that acquired the Cybertruck, to discern their intentions with it.
The $244,000 Cybertruck is far from being the priciest. In October 2023, even before deliveries, a Tesla truck was auctioned for $400,000 during a Petersen Automotive Museum gala event hosted by Jay Leno. The winning bidder received a build slot rather than the actual car.
