Tesla Makes Referral Program Less Rewarding For Model S/X Buyers, Referrers
Portfolio Pulse from Anan Ashraf
Tesla Inc has revised its referral program, making it less rewarding for Model S/X buyers and referrers. The new terms offer a discount of $500 instead of $1000 for a new vehicle purchase with a referral, and referrers will now receive 10,000 credits instead of 20,000. The changes bring the referral benefits for the Model S and X in line with those for the Model 3 and Y. The credits can be used to purchase Tesla referral awards within the Tesla app, but cannot be redeemed for cash.
September 07, 2023 | 5:11 am
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Tesla's revision of its referral program could potentially impact customer acquisition and retention for Model S/X. The reduced benefits may discourage referrals, potentially affecting sales.
The referral program is a key customer acquisition and retention tool for Tesla. By reducing the benefits for Model S/X buyers and referrers, Tesla may discourage referrals, which could potentially impact sales of these models. However, the impact may be mitigated by the fact that the new terms bring the benefits for the Model S and X in line with those for the Model 3 and Y, which could help maintain overall referral activity.
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