Tesla Stops Referral Program As Expected Vehicle Deliveries Move Into 2022 - Tesla (NASDAQ:TSLA)

Tesla Inc (NASDAQ:TSLA) has been having a demand problem, but not in the way you'd think.

Demand for Tesla vehicles is so high, if you were to order a Tesla today, you are not estimated to receive delivery until the first quarter of 2022.

Before Sept. 18, Tesla had a referral program where its customers could receive perks for referring friends to buy the car, such as free cars, Powerwalls, car chargers or free charging at Tesla's Supercharger network.

Now Tesla has elimated all perks for its referral program for cars and solar panels. While last week, a referral would get the purchaser and referer 1,000 free miles of Supercharging, this perk has been eliminated. All that remains now is a $500 bonus for both parties if someone uses a referral code to purchase Tesla's solar roof.

Benzinga's Take: While the referral program was an important part of Tesla's beginning as a startup EV manufacturer, the brand is now so recognized and in demand, there isn't much benefit for Tesla to give away free Supercharging anymore, especially as some Superchargers are already full to capacity.

Tesla has stopped the referral program in the past, but only for a short amount of time. It quickly returned, although the referral rewards were not nearly as enticing.

Photo courtesy of Tesla.

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