EV giant Tesla Inc. TSLA said on Saturday that the company will reduce benefits as part of its referral program in North America starting next year.
What Happened: “Current Referral Program benefits are valid through Dec 31 as well (will be reduced starting Jan 1),” the company announced in a post on social media platform X.
Tesla’s referral program aims to reward new and existing customers of the company. Existing customers can gain benefits by referring other first-time customers and new customers by making purchases with referrals.
Why It Matters: Late in November, Tesla updated its referral program to include enhanced discounts and rewards.
Customers could earn $1,000 for each successful referral, while the new buyer could receive up to $2,000 off a new Tesla. Additionally, those who take delivery before the end of 2024 will benefit from three months of free FSD (Supervised) and unlimited Supercharging, the company then said.
However, these benefits are valid only through the end of this quarter and are possibly aimed at increasing the company’s deliveries this year as compared to 2023.
For the full year 2023, Tesla delivered 1,808,581 vehicles around the globe. To mark a growth over last year, the company has to deliver at least 514,926 vehicles in the three months through the end of December. Tesla has never delivered over 500,000 EVs in a quarter to date, making this an ambitious target.
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Photo courtesy: Tesla
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