Elon Musk-led Tesla Inc. (NASDAQ:TSLA) has included a clause in the purchase agreement for the Model S and Model X customers that will bar them from selling their vehicles within a year of buying the vehicle.

Tesla’s 1 Year Clause

On Sunday, a user, The Cybertruck Guy, took to the social media platform X to share screenshots of a purchase agreement for Tesla’s Model S and Model X ‘Signature’ edition models. “You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year” following its delivery date, citing its limited release nature.

Tesla also maintained that should any “unforeseen” circumstances force the buyer to sell the vehicle and the EV giant accepts the customer’s reasons, the buyer would “agree to notify” the automaker and “give Tesla reasonable time to purchase the Vehicle” from the customer “at its sole discretion and at the purchase price listed on your Final Price Sheet less $0.25/mile driven,” the agreement said.

The owner can sell their vehicle to a third party should Tesla refuse to buy it, but only after the automaker’s consent. Should the customer breach the terms, the automaker said it may “seek injunctive relief to prevent the transfer of title of the Vehicle or demand liquidated damages” from the customer “to the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater.” Tesla could also refuse to sell vehicles to customers in the future.

Tesla’s New Models, FSD Europe Approval

The company has reportedly been mulling over working on an all-new model for its lineup targeting the affordable EV space. The reports prompted investor Ross Gerber of Gerber Kawasaki to opine that the model could be a Cybercab with a steering wheel and pedals.

The new model is separate from a different vehicle in the Tesla lineup that was teased by Musk in cryptic social media posts some time ago, with the vehicle possibly being offered in a 7-seater layout.

Tesla’s Full Self-Driving (FSD) technology received regulatory approval from the Netherlands Vehicle Authority (RDW), which could provide a major boost to the automaker’s self-driving efforts. The automaker’s artificial intelligence chief, Ashok Elluswamy, also hinted that the technology could become available in other parts of Europe following its approval.\

According to Benzinga Edge Rankings, Tesla offers poor Momentum and Value, while also failing to provide a favorable price trend in the Short, Medium and Long term.

Price Action: TSLA surged 0.67% to $351.30 during the after-hours trading session on Friday.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Photo courtesy: Tada Images / Shutterstock