The electric-power-trains maker Tesla Motors Inc. said on Tuesday that it will offer a guaranteed second-hands price for second-life cars on its website.
The company’s offer is designed to help buyers, as well as sellers, understand the costs of purchasing a second-sale car and the impact on their financials, Tesla said in a statement.
Under the guarantee, owners of the car can expect to receive the car for free after two years of ownership, it said.
The guarantee is not tied to any warranty.
Under its second-year guarantee, buyers will receive an equal amount of money per year, Tesla wrote.
The offer comes as the U.S. auto industry continues to grapple with a record-breaking number of new car sales and record-low vehicle prices.
The industry has been in free fall for more than a year as consumer demand has remained low despite an abundance of new vehicles and a glut of inventory.
In January, Ford Motor Co. said it would sell its $52.5 billion, 1.7-year-old Focus electric vehicle program for $21,000 per vehicle.
The company said last month it would cut 2,000 jobs.
The automaker last month said it will buy the luxury luxury car maker Kia Motors Corp. for $3.6 billion.
Ford, Kia and Tesla Motors have been in talks about a merger for months, but they have not worked out a deal.
Tesla said it is offering a guaranteed price for its cars for buyers, not a guarantee that they will be bought by customers.