Tesla Rolls Out New $1,000 Savings with Fresh Referral Program

Tesla has introduced an exciting new referral program that slashes $1,000 off the price of a new car, creating a win-win for both buyers and those who refer them.

Tesla Launches New Referral Program with $1,000 Discount

Shortly after discontinuing its predecessor a few months ago, Tesla introduced a brand new referral program.

After deciding to discontinue its prior referral program in May, Tesla introduced a new one on Saturday through its mobile app. The new scheme is more like a flat-out gift card than a referral credit system, and you can use it for everything from merchandise to Supercharging and beyond.

Referrers Earn $500 in Tesla Credits

Teslarati shares that the newly introduced method offers a $1,000 discount on new Tesla purchases to the first ten persons who utilize a referral link and $500 to the referrer toward Supercharging, supplies, accessories, service payments, or a new car.

Anyone who buys a referral vehicle is entered to win a pass to one of Tesla's future events.

The new referral program is available to users through the Tesla mobile app v4.36.1. For additional information on how the program works, visit Tesla's website here.

Musk Acknowledges Costs of Referral Programs

Elon Musk has warned shareholders about the costs of implementing a recommendation program, but he has repeatedly stated this year that Tesla plans to launch one. Musk made it clear in April that existing referral points would remain usable until the new program was introduced.

"I think we’ll re-examine the referral program probably next quarter," Musk stated during Tesla's June Annual Shareholder's Meeting.

Musk Addresses Impact on Vehicle Prices

Continuing the discussion, Musk brought up the fact that the recommendation program at Tesla raises the price of each vehicle sold, which may have an impact on the customer in the long run. He went on to clarify that he is in favor of referral arrangements of some kind and that he intends to discuss the new program sometime this quarter.

“But we’ll re-examine that I think in, next quarter and see if it makes sense,” Musk continued. “I think some kind of referral program does make sense.”

When their link was used, referrers would get 7,500 credits instead of the 10,000 credits offered in the prior referral program. In addition, since the program started, Tesla has periodically added, removed, or adjusted referral rewards as needed.