Tesla Extends Referral Discounts To All Models — The Benefits Explained

EV giant Tesla Inc TSLA is now offering a $500 discount on new Model 3/Y purchases if the buyer has a referral from an existing user.

What Happened: Model 3/ Y buyers with a referral link will receive a $500 discount and three months of full self-driving capability starting July 6 while Model S/X buyers with a referral get $1,000 discount, Tesla says on its website.

The referrer, meanwhile, will receive up to 10,000 credits for a model 3/Y and 20,000 credits for a model S/X purchase which could be used for supercharging or software upgrades, Tesla said. These credits, however, expire in twelve months unless the user earns additional credits. In case the user earns additional credits, the expiration date of all the credits will be extended by 12 months from the recent credit grant date.

The referral discount for model S/X vehicles has been in place in the U.S. since June.

The newly launched referral discount for model 3/Y vehicles is applicable across U.S., China, Hong Kong, Germany, and France, among other countries.

Why It Matters: On Friday, it was reported that Tesla has announced a reward of RMB 3,500 ($483.82) for Model Y and Model 3 buyers with a referral in China.

Tesla had previously stopped its referral program due to cost concerns.

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