Tesla Just Made a Major Referral Update, Rewarding Its Referrers 5 Times More

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We just got breaking news from Tesla. Tesla updated its referral program in the US. New Model Y/3 buyers who use a referral code now get $500 off, and three free months of FSD. Before, buyers only got 1,500 credits (worth $125). Referrers of a new 3/Y now will get 10k credits (worth about $1k), 5x more than before.

OK, you know what may happen now? Many YouTubers will probably start selling Teslas again. Honestly, I have never done it. Once I learned about Tesla updating its referral program, for a moment I thought it possible to get a referral link and share it with you. However, I said to myself, let me wait a little bit and perhaps start later. Let me know guys if you may be interested in using a referral link from me.

By the way, it was in May of this year, when we learned that Tesla has launched a Cybertruck referral program, giving away a free Cybertruck.

Also, you know, there are many people who would probably love to be able to use their referral code to earn credits, but they just don’t know enough people who are planning to buy a car. So, I wish there were other ways to earn referral credits. Maybe Tesla can come up with some other ways in the future. Since Tesla doesn't have dealerships, it can generously reward people who are willing to refer a friend to buy a Tesla vehicle.

But I want to point your attention to something else here. Early this morning Tesla CEO Elon Musk said possibly this year Tesla's full-self driving software FSD will get to Level 4 or Level 5 autonomy. I personally don't think it will get to Level 5 this year, but now Tesla updating its referral program may be indicative that Tesla is really about to solve the FSD and bring it out of beta, as Elon Musk suggested a few days ago.

Also, keep in mind that Tesla can afford to do so because Tesla has access to a staggering amount of demand levers. 

Here is what else Tesla can do. It can keep vehicle MSRP constant and adjust sales incentives via referral, inventory discounts, etc. 

Interestingly, Tesla waited until after the quarter's end to do this. It's a good sign that Giga Texas is full steam ahead, and I want to think that the Q3 will be a huge quarter for Tesla.

So to wrap up: Tesla updated its referral program in the US. New Model Y and Moel 3 buyers who use a referral code now get $500 off, and three free months of FSD. Before, buyers only got 1,500 credits (worth $125). Referrers of a new 3/Y now will get 10k credits (worth about $1k), 5 times more than before.

And I have a question for you, which I saw several people asking in social media today. Will Tesla retro orders haven’t been fulfilled yet?

Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.