Tesla Supercharges Referral Program With Expanded Rewards: What You Should Know
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) has updated its referral program, increasing the limit of referrals from five to twelve per calendar year. The credits earned through the program can be used to purchase various Tesla referral awards within the Tesla app, including supercharging, software upgrades, other Tesla products, and vehicle parts. The credits cannot be redeemed for cash and have an expiration period of 12 months. The update comes after Tesla expanded referral discounts to all its models.
July 17, 2023 | 3:20 am
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POSITIVE IMPACT
Tesla's updated referral program could potentially increase sales by encouraging more referrals. However, the impact on the company's bottom line will depend on the uptake of the program and the cost of the rewards offered.
The updated referral program could incentivize more Tesla owners to refer friends, potentially leading to increased sales. However, the cost of the rewards offered through the program could offset some of the potential gains. The net impact on Tesla's bottom line will depend on the balance between these two factors.
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