Tesla's Referral Benefits In North America To Reduce Starting 2025: Here's What You Should Know

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.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read Next:

Photo courtesy: Tesla

TSLA Logo
TSLATesla Inc
$285.099.86%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
89.19
Growth
45.57
Quality
94.90
Value
10.67
Price Trend
Short
Medium
Long
Got Questions? Ask
Which EV manufacturers could benefit from Tesla's changes?
How might auto parts suppliers react to Tesla's referral cut?
What impact will this have on consumer EV demand?
Could Tesla's referral changes affect charging infrastructure companies?
How will automotive stocks respond to Tesla's strategy?
Which investment firms are betting on EV sector growth?
Could this lead to opportunities in used car markets?
What does this mean for EV battery manufacturers?
How could auto dealerships adjust their strategies?
Which tech companies may benefit from increased EV adoption?
Market News and Data brought to you by Benzinga APIs

Posted In:
Comments
Loading...