From Bearded Tesla Guy.
Tesla just decided that it was time to restructure the offers being given for referrals. In addition, Tesla has continued discounts that were in place at the end of Q2 and here on the first week of Q3, Tesla is discounting existing inventory cars by as much as $7,500.
Up first is the changes that Tesla implemented to the referral program last night. Tesla has expanded the referral credits offered for Model Y and Model 3 referrals to 10k referral credits each. Those using a referral code will be given $500 off and 3 months free FSD for any new Model Y or Model 3 purchased.
Over on the Model S and Model X, the referral credit of 20k remains the same. However, on the other side, Tesla is now offering $1,000 off plus 3 months free FSD for any new Model S or Model X order.
Interestingly Tesla has also changed the way that "loyalty" referrals work, or existing customers of Tesla that purchase another Tesla product. Previously Tesla combined both the Referrer and Referee offers and gave both awards to return Tesla customers. Now, Tesla has changed this policy and is only offering the Referee bonus to repeat Tesla customers.
Looking at Tesla inventory, there are discounts up to $7,500 on brand new Tesla’s, not including Demo models. These brand new, never used inventory Model Y’s, Model 3’s, Model S’s, and Model X’s are being offered with the same level of discounts we saw in the last days of Q2. At the end of a quarter it is not uncommon to see Tesla offer discounts and special offers to help push remaining inventory out to customers. But this is the first time we are seeing steep discounts and strong referral offers in the first 6 days of a quarter.
The real question is what does this all mean? When I look at inventory in my area, there are far fewer cars available than there were at the end of Q2. With that said, is Tesla anticipating shipping large quantities of new Tesla’s to Service Centers without enough demand to consume? What does this do for customers waiting on the sidelines as Tesla continues to discount their premium vehicles?
Finally, Tesla has removed both FSD and EAP from the referral redemption section in the Tesla App. EAP was priced at 55k points, and FSD was priced at 120k points.
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