Tesla Is Doing A Referral Program Again To Sell More Cars
Photo: Brandon Bell (Getty Images)
Tesla is resorting to some old tricks to move cars as more competition joins the field, with a new global program to give prospective buyers an extra incentive to choose a Tesla through referrals from existing customers.
The Hype Behind Tesla Stock Success In 2023
According to Reuters, the new program is called “Refer and Earn,” and is equivalent to about $500 cashback for buyers in the U.S. who purchase a Model 3 or Model Y. They’ll also get three months of Full Self-Driving beta for free.
Reuters reports that the program has been rolled out in all of Tesla’s largest markets, including the United States, China, Germany, France, Canada, Mexico, Hong Kong, and Singapore. The Texas-based automaker reportedly said it would offer new Model Y or Model 3 buyers in China a cash rebate of 3,500 yuan (about $483) if they could cite a referral from an existing Tesla owner.
Back in April of this year, Tesla CEO Elon Musk reportedly doubled down on the EV price war. He said the company would be prioritizing sales growth ahead of profits in a weak economy with rising competition. It seems to be working. Earlier this week, Tesla reported that it delivered a record number of vehicles in the second quarter of 2023. It even topped market estimates, so good for Elon, I guess. Tesla also reportedly achieved a record number of deliveries of its China-made vehicle in the same time period.
The referral thing isn’t anything new for Tesla, or the automotive industry as whole, though at least Tesla isn’t really trying to pretend anymore that it’s above sales tactics that the car industry has employed for decades.
