Tesla To End Referral Program

thumb-tesla.png

Elon Musk announced today on Twitter that Tesla would be ending its referral code program for new Tesla buyers starting March 1st.

Originally the referral program was launched back in 2015 as a way for new Tesla buyers to encourage others to buy cars. The referral code users got access to free supercharging, and the code owner could rack up points which were used for a variety of prizes such as a free Tesla Powerwall battery or even a 2020 Tesla Roadster.

The issue for Tesla is the referral program has added too much additional cost to Tesla's cars, especially the newest vehicle the Model 3.

This move is part of a more significant change at Tesla to cut back on costs. Last quarter was the first time in 2 years the company was profitable bringing in a net profit of $311.5 Million.