Tesla has once again adjusted its referral program, boosting the referral discount for the Model 3 in the U.S.
Unfortunately, the Model 3 is still not part of the referral program in Canada after it was removed last year.
Previously, Tesla offered a $1,000 referral discount on the Model 3, but with this latest adjustment, buyers who use a referral link can now receive a significant $2,500 off their purchase.
According to post by Tesla North America on the social media platform X, the increased discount applies to both cash and financed purchases of the popular electric sedan. This marks the first time Tesla has structured the referral program to only offer a discount based on the payment, excluding leases for this offer.
The discount applies across all Model 3 trims in the U.S., including the Rear-Wheel Drive (RWD), Long Range, and Performance versions. This makes it the most attractive offers in Tesla’s referral program, which has been a key part of the company’s marketing strategy over the years.
Why the Boost?
Tesla has been fine-tuning its pricing and incentives throughout 2024, adjusting discounts, financing rates, and referral perks to match shifting market conditions. The increase in the referral discount could be Tesla using one of its demand levers to push more Model 3 sales before the end of Q1.
Another factor could be Tesla’s recent removal of the Model 3 RWD and Long Range from the U.S. federal EV tax credit eligibility list. Since these variants no longer qualify for the $7,500 tax incentive, the company may be using a higher referral discount to offset some of the loss of that government-backed benefit.
