Renowned EV maker Tesla Inc has started offering cash discounts on selected variants as part of an initiative to attract new customers to Tesla cars. The new customers can avail of the cash benefit via a referral program.
According to reports, Tesla’s referral program has been reintroduced into its sales strategy after a long period of time. The program is targeting new customers for its Model 3 and Model Y cars. The program was introduced last quarter and new customers who get referrals from existing customers can make use of the arrangement.
Earlier, the cash discount and Full Self-Driving packages were limited to buyers of the Model S and Model X. Buyers of Model 3 and Model Y models didn’t have the opportunity to avail the referral program or cash discount program.
Tesla has just announced some exciting benefits and rewards for people who buy their Model 3 or Model Y cars in certain countries. If you use a special referral link, new buyers will receive $500 off the purchase price and three months of Full Self-Driving capability. In addition, the person who referred them will receive 10,000 referral credits as a reward. This program aims to attract more customers and boost sales for Tesla in these countries.
Tesla slashing prices to push sales
In the past few months, Tesla has been lowering the prices of their cars in order to sell more vehicles in various parts of the world. This strategy has been especially successful in China and the United States, which are two of Tesla’s biggest markets.
As a result of these reduced prices, more people have been showing interest in Tesla cars and placing orders to purchase them. The lower prices have made Tesla cars more affordable and appealing to a wider range of customers, leading to increased sales for the company.
In certain areas of China, there have been protests by some previous Tesla buyers in front of Tesla stores. These protesters demanded that the company take back their old cars and provide them with new cars at a lower price, as well as a refund for the value of their old cars.
As Tesla continued to lower prices to boost sales, many Tesla customers became interested in whether a return policy was available for their electric vehicles. However, it has been a while since Tesla removed the return option from their policy page on their website.
Currently, Tesla only permits returns for additional products or accessories purchased alongside or separately from the vehicle. However, returning the car itself is not an option at the moment.
Price slashes are working for Tesla
Tesla’s strategy of reducing prices has proven successful, as reflected in its second-quarter results. The company experienced a significant increase in deliveries, with a quarter-over-quarter growth of approximately 10%, reaching a total of 466,140 vehicles delivered.
What makes Tesla vehicles appealing to more people are the significant discounts, special offers, and the additional benefit of federal tax credits when purchasing electric vehicles in the United States. Depending on the vehicle and the automaker’s sales numbers, the federal tax credit can go up to $7,500.
Additionally, different states offer their own tax credits, which vary in amount and often have fewer restrictions than the federal credit. For instance, California provides rebates ranging from $1,000 to $7,000 for various types of electric vehicles.
