Tesla will fine owners of the final Signature Edition examples of its Model S liftback and Model X SUV in the US if they sell them within the first year of ownership, with buyers also at risk of being blacklisted from future purchases.
The US electric vehicle (EV) maker has announced it will build 350 Signature Edition vehicles to mark the end of global production of its Model S and Model X.
Based on the high-performance Plaid versions, 250 Model S Signature Editions are planned, with the Model X making up the remainder.
Both are reportedly priced at US$159,420 (A$222,111) before destination costs, and feature exclusive Garnet Red paint as well as gold accents inside and out.
First reported by Not A Tesla App, Tesla is requiring buyers to sign a ‘Signature Edition No Resale Agreement’, which prevents owners from selling their vehicles within 12 months of delivery.
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The move is designed to stop customers from making a quick profit on the limited-run models.
If they do wish to sell within the first year, owners must pay Tesla US$50,000 (A$69,738) in “injunctive relief”. They must also give Tesla first right of refusal, notifying the automaker in writing if they intend to sell.
The agreement states Tesla will subtract US$0.25 per mile (A$0.35 per 1.6km) the vehicle has travelled from the original purchase price, and factor in wear and tear before determining a buyback figure.
“If Tesla authorizes you to resell your vehicle, but declines to purchase it, you may then resell your vehicle to a third party only after receiving written consent from Tesla,” the agreement said.
“Tesla may also refuse to sell you any future vehicles,” it added.
The Model S was sold in Australia between 2015 and 2020, while the last Model X shipment landed here in 2020. Updated versions of both were planned before Tesla Australia pulled the plug in 2023, returning deposits to local buyers.
This isn’t the first time Tesla has imposed such conditions on customers, with a similar arrangement used for early buyers of the Cybertruck in 2023 and 2024 – something it’s reportedly no longer enforcing.
Tesla isn’t alone in restricting resale of limited-run models. Ford famously took professional wrestler and actor John Cena to court in the US after he sold his Ford GT supercar in 2017 after owning it for only a few months.
Mr Cena was among invitation-only buyers of the Ford GT, and was contractually obligated to keep the vehicle for 24 months.
The automaker and Mr Cena settled the dispute for an undisclosed amount in 2018.