American electric vehicle giant Tesla has just implemented a notable update to its famous referral program on Thursday involving the Model Y & 3 in its largest markets, US and China.
It must be noted that offering employee and loyalty incentives has been a widely adopted strategy by legacy automakers to make their products more affordable for buyers, resulting in increased sales.
Tesla followed suit but halted the referral program due to the high costs it caused the company. Therefore, the EV giant has shifted its focus to real-time price adjustments on its official websites. However, it was prompted to relaunch the program to increase sales amid the growing competition.
Tesla’s aggressive pricing strategy propelled the global EV industry to become increasingly competitive. It has even pushed other automakers to also employ price cuts or offer significant incentives in major markets.
Tesla customers to get a $500 discount under the new referral program in the US
Tesla’s “Refer and Earn” program now offers about $500 discount for customers who buy the world’s most sought-after EV (Model 3) and the best-selling EV in Q1 2023 (Model Y) using their friends’ referral link. Meanwhile, the referrer will also get 10,000 referral credits.
Notably, the EV giant also offers three months of complimentary Full Self-Driving tech access in the US.
As for the Model S and X, Tesla offers a $1,000 discount and 3 months of FSD access to customers who buy either of the two models using their friends’ referral link. On the other hand, the referrer will get credits of 20,000 points.
In hindsight, Tesla also offered incentives for its energy products, including solar panels and solar roofs, under the referral program. Tesla Energy customers will get a $500 discount if they use their friends’ referral link, while the latter will get 9,000 credits.
Tesla China offers cash rewards for Model 3 and Y
Tesla China announced that the automaker will boost its cash reward program for Chinese customers.
Tesla will offer 3,500 yuan ($483) and 90-day complimentary Enhanced Autopilot access for customers who buy either the Model 3 or Y using the referral link.
Meanwhile, referrers will get 7,000 credits, which they can use to exchange with enticing gifts such as children’s walkers, among others.
The updated cash rewards program includes only the Tesla Model 3 and Y.
Interestingly, Tesla China’s boost to its current referral program occurred just right after the automaker signed a letter of commitment with other Chinese automakers to end the price war in the country.
See Also:
- Tesla offers $1000 off and a free three-month trial of FSD under its referral program
- Tesla reintroduces its car referral program with a chance to win a Cybertruck
- Tesla relaunches famous referral program in Europe to boost Q1 sales
- Tesla launches new credit-based referral program
- Tesla revamps its referral program with some new incentives
Although Tesla agreed to a truce in ending the EV price war it started, it must be noted that the agreement is not legally binding. Therefore, Tesla can still impose such aggressive strategies if it wants to. However, it would violate its pledge to maintain fair competition in the market.
