Tesla debuts customer referral in EV war's next move
foxbusiness.comClimateDepot publisher Marc Morano discuss the EV push and how Ford is preparing another round of layoffs on ‘The Bottom Line.'
Tesla will now offer its buyers an opportunity to earn extra incentives through referrals from existing customers.
A marketing strategy typically used by automakers like Ford and GM, the incentive, which the EV maker calls «Refer and Earn,» is the equivalent of about $500 in cash back to U.S. customers buying the Model 3 and Model Y. New customers will also receive three months of its Full Self-Driving feature.
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The program is debuting in Tesla's largest markets including the U.S., China, Germany, France, Canada, Mexico, Hong Kong and Singapore.
Tesla CEO Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China, on May 31, 2023. (REUTERS/Tingshu Wang / Reuters Photos)
For customers in China, the Elon Musk-led company said it would offer new buyers of its Model Y and Model 3 vehicles a cash rebate of 3,500 yuan or $483.69 if they could cite a referral from an existing owner.
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Since Jan. 1, the price war among EV competitors like Tesla, Rivian, GM and Ford has heated up amid a string of price cuts to EV models, capital investment and infrastructure applications like charging stations and electric battery plants.
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