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Tesla’s Referral Program will officially come to an end on February 1
Tesla CEO Elon Musk has confirmed that the company’s customer referral program will be coming to an end on February 1st.
After a near 4-year run, Tesla’s widely popular referral program, which turned existing customers into hungry sales machines that were fueled by the lure of winning anything from a $250,000 next-generation Roadster (or two), to the promise of sending a laser-etched photo into deep space aboard a SpaceX rocket, will be shutting its doors for good. While this isn’t the first, second, or third time that the California electric carmaker and its CEO has leveraged the referral program to instill FOMO and convert would-be buyers into customers before a seemingly moving deadline, Musk’s statement that “the whole referral incentive system will end” does sound definitive.
https://twitter.com/gooseSD22/status/1085773248556462080
Existing Tesla customers that refer a friend to purchase a Model S, Model X, Model 3 vehicle, or a Tesla Solar Panel system, will have until the end of January 2019 to complete a referral sale. Buyers of a new Tesla will receive six months of Free Supercharging and an additional three months if taking delivery of the car without a test drive. Solar customers that make a purchase through a Tesla referral code will be given a 5-year extended warranty on their system.
What started as a test program in July of 2015 for a young car company that was looking to stimulate cost-effective word-of-mouth sales, in lieu of establishing expensive brick and mortar stores, has become arguably one of Tesla’s most successful sales tools to date.
“Word of mouth has always been a major part of how Tesla sales have grown. When I meet Tesla owners, one of the first things they often tell me is how they have convinced many others to buy the car. As you may already know, Tesla does not advertise or pay for endorsements or product placement. Maybe by doing so we could sell more cars, but I don’t like the idea of trying to trick people into buying a product by false association.” said Musk in an email sent to Model S customers in 2015.
“Reaching potential customers are important, but, if we can amplify word of mouth, then we don’t need to open as many new stores in the future. So, we are going to try an experiment.”
Inasmuch as the closing of the customer incentive program leaves a void to the hundreds of thousands that have grown accustomed to seeing, sharing or using a Tesla referral code, it’s the penning of a new chapter. One that continues the story of how one company accelerated the world’s transition to sustainable energy.
For prosperity’s sake, here’s a look back at the email that started it all.
From: Elon Musk
Subject: Trying something new (plus party at the Gigafactory and a Founder Series Model X)
Date: July 29, 2015 at 2:05:31 PM PDT
Word of mouth has always been a major part of how Tesla sales have grown. When I meet Tesla owners, one of the first things they often tell me is how they have convinced many others to buy the car. As you may already know, Tesla does not advertise or pay for endorsements or product placement. Maybe by doing so we could sell more cars, but I don’t like the idea of trying to trick people into buying a product by false association. If you see somebody famous driving a Model S, it is because they genuinely like the car.
If you see it in a movie or TV show, it is because the people associated with that production genuinely like the car. Besides word of mouth, another way that our cars are sold is through stores. These will always be important to allow people to check out new models and ask our product specialists detailed questions. However, stores are quite expensive to set up and operate. In reviewing the Tesla cost of sales, we found that it is approximately $2,000 to sell a car through our stores, higher in some regions and lower in others.
Both ways of reaching potential customers are important, but, if we can amplify word of mouth, then we don’t need to open as many new stores in the future. So, we are going to try an experiment. This is similar to the customer growth program that I worked on at PayPal/X.com back in ’99. What worked for PayPal may not work for Tesla, but it is worth trying, as the net result would be lowering our costs by $2,000, allowing us to give that money to our customers.
From now through October 31st, if someone buys a new Model S through your link, they will get $1,000 off the purchase price and you will get a $1,000 credit in your Tesla account, which can be applied to a future car purchase, service charge or accessories. To put some limits on the experiment, each Tesla owner can grant a maximum of ten $1,000 discounts.
Just for fun, there will also be some things that money can’t buy. If five of your friends order a Model S, you and a guest will receive an invitation to tour the Gigafactory in Nevada – the world’s biggest factory by footprint – and attend the grand opening party. This will be awesome. At ten orders, you get the right to purchase a Founder Series Model X, which is not available to the public, with all options free (value of about $25,000). The first person to reach ten will get the entire car for free.
Elon
Ferrari’s first electric vehicle, the Luce, is fully sold out for 2027, according to CEO Benedetto Vigna.
Presenting third-quarter results, he stated: “Everything we plan to sell next year is already fully allocated. Client test drives, scheduled for next year, will help further boost demand. We have no critical issues, neither on manufacturing nor on the demand side. Obviously, the car is more complex because it has many new parts and many new technologies.”
First customer deliveries are expected before the end of 2026, with the model already commanding waitlists despite a turbulent debut.
The Luce is a five-seat, four-door liftback saloon—the longest Ferrari ever produced—powered by four electric motors producing approximately 1,035 horsepower.
It features an 800-volt architecture, a 122-kWh battery, a claimed WLTP range of around 329 miles, 0-62 mph acceleration in 2.5 seconds, and a starting price near €550,000 in Europe (roughly $560,800–$615,000 in the U.S. depending on configuration).
Developed in collaboration with Jony Ive and Marc Newson’s LoveFrom studio alongside Ferrari’s own Centro Stile, it represents a deliberate departure from the brand’s traditional mid-engine sports cars toward a more spacious, grand-touring format.
Its exterior has proven deeply polarizing. Unveiled in Rome in May 2026, the design features smooth, sweeping surfaces, a large glass roof, and restrained detailing that critics described as bland, generic, or more reminiscent of an Apple product or mass-market EV than a Ferrari.
Ferrari unveils its Luce EV, and its reception has been a disaster
Online reactions included memes comparing it to a Nissan Leaf or Polestar, while former Ferrari chairman Luca di Montezemolo publicly warned of “the destruction of a myth” and suggested the prancing horse logo be removed. Italian politicians and longtime owners joined the chorus of disappointment, and Ferrari’s shares dropped roughly 8% in a single day, erasing billions in market value.
Design experts noted the absence of the brand’s signature tension, aggression, and emotional drama.
Yet the controversy has not translated into weak demand among the ultra-wealthy clientele who actually buy Ferraris. Production volumes remain tightly limited, as reports suggest fewer than 500 units in the current year and a longer-term pace of roughly 600 annually through 2030, preserving exclusivity.
One early chassis sold for $40 million at auction. Vigna has indicated that seeing the car in person, along with upcoming client test drives, is expected to strengthen rather than weaken interest. Ferrari aims for fully electric models to comprise 20 percent of its lineup by 2030, with a second EV now delayed to 2028.
For a brand defined by scarcity and desirability, the Luce’s sell-out status suggests that among those who can afford it, the polarizing design has not proven to be a commercial liability.
Tesla and SpaceX shares fell on Wednesday after Democrats swept both chambers of Congress. The decline stood out as broader market securities recovered and turned positive, while both of Musk’s publicly traded companies lagged.
CEO Elon Musk already joked about the unsuccessful campaigning for the Republicans, but now the new party will make pretty drastic changes to how it handles Tesla and SpaceX, and those companies will adjust their outlook.
Let’s take a deeper look.
Tesla ($TSLA)
Tesla shares traded lower during the regular session after Democrats secured both the House and Senate. The stock was down 2.32 percent at around 1:45 p.m. on the East Coast, trading at around $389.30.
The pressure is tied to more than the raw scale of Musk’s political spending, estimated at $450–474 million this cycle with roughly $224 million directed at Texas. In that state, Tesla now faces a Democratic governor and a Democratic senator after Gina Hinojosa unseated Greg Abbott and James Talarico defeated Ken Paxton.
The Austin Gigafactory, Robotaxi pilot programs in multiple Texas cities, and any related AI compute expansion sit under a new state executive who campaigned against certain corporate subsidies and floated a moratorium on new data-center construction.
Federally, Democratic control of key committees opens the door to deeper examination of Tesla’s autonomous-driving safety record, federal energy-storage and manufacturing incentives, and the national-security implications of any combination with SpaceX.
Investors are also weighing whether the company’s historically close alignment with the prior Republican leadership will invite slower permitting, additional hearings, or tighter rules on Full Self-Driving deployment.
For Tesla, the political shift adds near-term friction around state permitting and federal regulatory approvals for autonomy and energy storage. A potential merger with SpaceX may face slower review even if it proceeds.
Core growth drivers such as vehicle deliveries, energy deployments, and robotaxi rollout remain intact, yet the stock now carries a higher political-risk premium that could weigh on valuation until the company demonstrates workable relationships with the new Texas leadership and congressional majorities.
SpaceX ($SPCX)
SpaceX shares also declined in live trading on November 4 following the Democratic midterm sweep. The stock traded at $134.97, down 4.49 percent. The drop occurred even as broader indexes stabilized, highlighting a company-specific reaction to the election outcome.
Musk’s large contributions, concentrated in Texas races that both companies lost, place SpaceX’s Starbase launch facility and headquarters under a new Democratic governor.
At the federal level, Democratic control of Congress enables greater scrutiny of NASA, the Department of Defense, and other contracts that support a meaningful share of revenue, along with reviews of Starlink national-security uses and any Tesla merger. Analysts have noted that empowered committees can hold hearings and request documents on these relationships.
For SpaceX, the results raise the risk of delayed contract awards, higher compliance costs, and tighter constraints on AI and satellite infrastructure expansion, particularly in Texas where a data-center moratorium has been discussed.
A merger with Tesla could encounter political friction that slows integration of launch, connectivity, and autonomy capabilities.
While Starlink growth and launch cadence continue as primary drivers, the company faces a more contested path for federal funding and state-level operations, requiring management to rebuild ties with the new congressional majorities and Texas leadership to limit the overhang.
Tesla’s new vehicle registrations in Germany rose sharply in October, nearly quadrupling from the same month a year earlier. That’s according to data from the KBA, Germany’s federal motor transport authority.
The KBA reported 2,932 Tesla vehicles registered in October, a 290.9 percent year-over-year- increase. For the first ten months of the year, Tesla’s cumulative registrations reached 47,742 units. This number is up 206.1 percent compared with the January-October period of 2025. These gains occurred against a backdrop of strong overall growth in the BEV sector as a whole.
Germany registered 94,086 new BEVs in October, a 79.5 percent rise that brought the BEV share of the passenger car market to 37 percent of the 254,492 total cars registered that month.
🇩🇪 Tesla’s new registrations in Germany nearly quadrupled in October, according to KBA data.
October: 2,932 units, +290.9% YoY Jan–Oct: 47,742 units, +206.1%
Germany’s overall BEV market grew 79.5% to 94,086 units last month. https://t.co/GMwNqsFAOC
— TESLARATI (@Teslarati) November 4, 2026
Despite the percentage surge, Tesla’s absolute numbers left it with a 1.2 percent share of all new car registrations for October. Chinese competitors did record higher volumes, as BYD registered 5,173 vehicles, a 2 percent share, Leapmotor with 3,661 cars, which equates to 1.4 percent, and Xpeng had a 0.5 percent share.
Year-to-date through October, BYD edged ahead of Tesla with 47,961 registrations versus Tesla’s 47,742.
The October results follow a notably strong September for Tesla in Germany, when it registered 12,552 vehicles, an increase of roughly 269 percent year-over-year and one of its strongest monthly totals on record in the country. That month, the Model Y led all EVs and ranked among the top-selling vehicles of any powertrain.
The figures form part of a broader recovery in Tesla’s European registrations after an extended period of softer demand. While monthly volumes remain subject to typical quarter-end patterns and competitive pressure from both established European brands and rapidly expanding Chinese manufacturers, the year-to-date growth indicates improved traction in Europe’s largest car market.
Tesla’s Gigafactory Berlin-Brandenburg continues to supply the region, positioning the company to capture a share of the expanding German BEV market as overall EV adoptions looks to be accelerating.
Ferrari Luce sold out for 2027 after design controversy
Musk’s Tesla and SpaceX decline after Democratic Midterm sweep
