Tesla is reintroducing its owner referral program, this time with more substantial rewards to attract new buyers and boost sales. After discontinuing the program last April, Tesla is now offering $1,000 off the purchase of a new Model S, Model X, Model Y, or Model 3 when a buyer uses a referral code. Additionally, the person who provides the referral will receive $500 in credit, which can be applied to any Tesla product, including vehicles.
This revamped referral program marks a significant shift from recent years, where Tesla had scaled back the incentives, making the program less impactful. Previously, rewards were limited to redeemable points for a select range of products through Tesla’s mobile app. The new program’s cash credits, applicable toward vehicle purchases, are expected to increase participation and drive demand.
The move reflects Tesla’s renewed focus on demand generation, returning to a strategy that has proven successful in the past. The broader application of rewards, especially allowing credits to be used for new vehicles, is anticipated to make the program more popular among Tesla owners and potential buyers alike. This change comes after feedback from users who found previous referral rewards, like Supercharger miles and limited product points, less valuable.
By enhancing the referral incentives, Tesla aims to leverage its customer base to drive sales, particularly as it competes in an increasingly crowded electric vehicle market.
