Tesla (TSLA) has relaunched the Referral Program after discontinuing it in April this year. It was an abrupt ending but the company’s CEO Elon Musk promised a re-structured rewards program in a few months and it’s here.
The new 2024 Tesla Referral Program launched yesterday is less complicated in rewards structure than its previous iterations. The automaker has renewed, launched, and discontinued its Referral Program over the last decade. However, the structure of these programs was not very easy to understand at first.
The history of the Tesla Referral Program has been full of rewards as small as free Supercharging and as big as winning a $250K next-gen Tesla Roadster. Once Tesla offered to send a mosaic of laser-engraved customer pictures into space as a crazy reward in its Referral Program.
However, this time, it’s straightforward. The person who uses a referral code to buy an eligible Tesla product (Buyer) gets $1,000 off the purchase price. The person whose referral code has been used to buy an eligible product gets $500 as a reward in their Tesla Referral Program account.
Tesla owners can find the details of the new Referral Program perks in their Tesla mobile app. Tesla’s official description of the 2024 Referral Progam states the following:
Earn $500 by Giving Anyone $1,000 Off a New Tesla
Earn $500 toward Supercharging, software upgrades, merchandise, service payments or a new vehicle for each person you refer who takes delivery. Limited to 10 awards. You’ll also have a chance to invitation to an upcoming Tesla event.
The first 10 people who order a new Tesla using you referral link will receive $1,000 off the purchase price.
Related: Tesla upgrades its 2024 Referral Program with double the rewards
Tesla has capped the referrals to 10 per calendar year. This means that the Buyer and Referrer both will not get any benefit if a Referrer reaches the limit of 10 referrals in a calendar year. This way, a Referrer can get a maximum reward of $5,000. Each earned referral will expire after 12 months from the date it was earned.
Limiting the reward to 10 times a year gives a bit more opportunity to Tesla owners with less social reach. Previously, Tesla influencers were the most rewarded as there was no limit to how many times their referral code could be used. This is a better strategy by Tesla to provide equal opportunity to all Tesla owners in the new 2024 Referral Program.
This means that the maximum benefit a Tesla owner can avail with referrals is $5,000. This amount can be used to get a $5K discount on the purchase of a new Tesla Model 3, Y, S, or X.
With a $5,000 discount from the Referral Program, a Tesla Model 3 Long Range AWD can be bought under $30K if you are eligible for the $7,500 Federal Tax Credit.
Interestingly, Cybertruck is not included in the new Tesla Referral Program. This means that you cannot get a discount with a referral code or your accrued rewards toward purchasing a new Cybertruck.
You can get the complete information on the new Referral Program on its official page here.
Tesla influencer Sawyer Merritt posted the following screenshots of the new Tesla Referral Program on Elon Musk’s X (Twitter).
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 launches its new 2024 Referral Program that offers $500 for each referral earned and $1,000 discount for buyers (detailed information).){kind=link}