Boca Raton, Fla.
– Tesla Motors Inc. said Tuesday that its first-ever guaranteed second-handship-price guarantee has been approved by the U.S. Consumer Product Safety Commission.
The auto maker said the guarantee will cover second- and third-hand automobiles sold in the United States and Canada.
The company said that it will work with local authorities to secure additional guarantees for secondhand cars.
The offer, which was announced on Tuesday at a press conference, comes just one day after the California DMV issued a recall notice for more than 700,000 Tesla Model S sedans in which a driver could inadvertently pull out the brake pedal.
In a separate recall issued in January, the California National Guard said it was investigating reports of a Tesla Model X crossover that did not properly maintain the battery compartment in the back.
Tesla says the first-of-its-kind guarantee, which covers both second-year and first-time ownership, was introduced last year and will be offered through 2018.
The carmaker says that the guaranteed secondhand price will be determined based on an individual customer’s vehicle’s annualized cost of ownership and the dealer’s offer, not the model or trim level offered by the carmaker.
Tesla said that its guarantee will not apply to first- or second-generation cars sold in certain states, including California, Florida and Nevada.
Tesla has faced mounting criticism for selling vehicles that are more expensive than their original models, but also at a time when electric-vehicle sales are slowing.
In the United Kingdom, for example, the average annual price of a new Tesla Model 3 has climbed to more than £50,000.