EV giant Tesla Inc. has announced changes to its North American Referral Program, set to take effect in 2025. The updates aim to adjust the benefits provided to both new and existing customers, with a focus on rewarding referrals and purchases within the Tesla community.
Key Changes to the Program
The company stated that current Referral Program benefits are valid through December 31, after which they will be reduced starting January 1. This move is part of Tesla’s ongoing efforts to enhance and refine its customer referral initiatives.
Program Overview
Tesla’s referral program is designed to reward both new and existing customers. Existing customers can gain benefits by referring first-time customers to Tesla, while new customers can make purchases using referrals to receive exclusive discounts and perks.
Current Benefits
For those taking delivery by December 31, the current benefits include:
- 3 months of free Supercharging
- Free FSD Supervised
- Existing FSD Supervised owners can transfer to a new vehicle, excluding non-Foundation Cybertruck models
- 0% APR available when purchasing FSD Supervised
Significance of the Updates
The changes to the referral program come after Tesla updated its program in late November to include enhanced discounts and rewards. Under the previous update, customers could earn $1,000 for each successful referral, while new buyers could receive up to $2,000 off a new Tesla. Additionally, those taking delivery before the end of 2024 were eligible for three months of free FSD (Supervised) and unlimited Supercharging.
Tesla’s Delivery Targets
The adjustments to the referral program are possibly aimed at increasing Tesla’s deliveries in 2024 compared to 2023. In 2023, Tesla delivered 1,808,581 vehicles globally. To achieve growth over the previous year, the company needs to deliver at least 514,926 vehicles in the fourth quarter of 2024, marking an ambitious target as Tesla has never delivered over 500,000 EVs in a single quarter.
Conclusion
The changes to Tesla’s North American Referral Program reflect the company’s efforts to refine its customer incentives and drive sales growth. As the EV market continues to evolve, Tesla’s strategies to enhance customer benefits and meet delivery targets will be closely watched by investors and industry observers alike.