Tesla Motors’ second-hottest seller, its second-biggest selling car, its first-best selling electric car, and its best selling electric vehicle are all in the hands of a very large car company that will soon have to sell them for a guaranteed price.
The car company is TSLA, the second-largest seller of second-handed cars in the United States and one of the world’s largest car companies.
TSLH has made a habit of selling the cars at bargain prices to its customers in recent years.
Tesla said it would now require the second hand car companies to put in place “an industry-wide guarantee program” that would guarantee a car’s price for “at least six months after sale,” with the hope that such a program would drive the market price of a second-home to zero.
The company will make the guarantee payments directly to the car companies owners for the six-month period starting in June 2020, according to the Tesla Motors website.
The guarantee payments are “unprecedented” in terms of the number of cars Tesla currently sells for its customers, said Peter Rehder, a research director at automotive research firm Autotrader.
Rehden also said the program could have a major impact on how Tesla markets its vehicles.TSLA has been the second largest seller of electric cars in America for more than a decade, and the company recently sold off its third-largest car, the Model S sedan, for about $4.5 billion to a group of private equity investors.
The Model S and Model X were Tesla’s best-selling electric vehicles at the end of 2016, according the company.TSA, which is responsible for enforcing federal safety standards on cars, said it was also in talks with the two companies to establish a program to make the guaranteed car payments.
The new program is part of a broader initiative to improve the supply chain for electric cars, the company said in a statement.
Tesla’s first-half sales in the U.S. for the year were nearly $1 billion below the previous record set by General Motors in 2015.
The program is expected to increase overall supply chains for electric vehicles by 50 percent in the second half of 2020, and to increase production by 50 to 100 percent, the automaker said.
Tesla and TSLD have been working together for the past six years to develop the program, which will require the companies to make payments to each other based on the market prices for the two vehicles.
“It will create a very valuable supply chain,” said Richard Loomis, a senior vice president at TSLL.
The companies have not announced the price of the guarantee program, but it is expected that the guaranteed payments would come to about $1,000 per car.
The company said the payments will be made over six months, and will include interest.
The payments will not cover any “extra costs” the car manufacturers might incur.