In a plan to increase sales, Tesla is rolling out a new program allowing buyers to earn extra referral incentives.
The “Refer and Earn” program is the equivalent of $500 in cashback for new buyers purchasing its Model 3 and Y vehicles and three months of its Full self-driving feature. The incentive also includes a free Tesla Wall Connector, 500 miles of its Supercharger, and a few entries into the Cybertruck raffle when utilizing a referral link.
This program not only encourages existing customers to promote Tesla’s vehicles but also provides added benefits for new buyers.
For Model S and X vehicle buyers, the EV maker has offered cash discounts and free self-driving packages for the past few months. However, since the firm decided to add cash discounts and additional incentives for its Model 3 and Y vehicles, the primary incentives were Tesla credit points that customers received upon delivery and could exchange for upgrades or accessories.
Expanding the program to Tesla’s largest markets, including the U.S., China, Germany, France, Canada, Mexico, Hong Kong, and Singapore, demonstrates the automaker’s commitment to accelerate sales and market penetration worldwide.
Additionally, the move by Tesla is significant due to its efforts to shift its pricing strategy. While other legacy automakers have traditionally relied on employee and loyalty discounts to lower sticker prices, Tesla has focused on dynamic pricing adjustments on their website.
Overall, Tesla’s Refer and Earn program is a deliberate attempt to increase sales and capitalize on the influence of consumer recommendations. Tesla seeks to increase its market share and reinforce its position in the global EV industry by rewarding current customers who spread the word about its vehicles and providing alluring incentives to potential consumers. This strategy fits well with Tesla’s expansion plan, which calls for increasing vehicle production, launching fresh models like the Cybertruck, and constructing new manufacturing facilities.