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Model 3 Mentioned in New Tesla Referral Program
Tesla has begun a second referral program like the one that ended October 31. This one runs until December 31 and includes tickets to the Model 3 event.
Tesla Motors has renewed its Model S referral program with new prizes and new rules.
The renewed Tesla referral program, good until the end of 2015, is very similar to the original one except this time around existing Tesla owners no longer qualify for the $1,000 credit if a purchase is made using their personal referral links. New owners would still qualify for the $1,000 discount off the price of a Model S.
Tesla recently came under heat in its home state of California when the Department of Motor Vehicles (DMV) began cracking down on the legality of its referral program. In a letter sent to Tesla, Frank Alvarez, chief of DMV’s Investigations Division, said that it’s “unlawful for any seller to induce or attempt to induce any person to enter into a contract subject to this chapter by offering a rebate, discount, commission, or other consideration, contingent upon the happening of a future event, on the condition that the buyer either sells, or gives information or assistance for the purpose leading to a sale by the seller of, the same or related goods.”
The latest updates to Tesla’s newest referral program is apparently in response to authorities in California and other states that claimed the program violated local laws.
Details for Tesla’s Nov 1 – Dec 31, 2015 Referral Program:
- Top Referrers by Region — The owner that makes the most qualifying referrals in each of North America, Europe and Asia/Pacific will receive a Ludicrous P90D Model S and an exclusive VIP invitation for two to the Model 3 unveiling event, including travel and accommodations.
- First to 10 by Region — The first to make 10 qualifying referrals in each of North America, Europe and Asia/Pacific will receive a Tesla Powerwall Home Battery, installation included.
- 10+ Qualifying Referrals — Each owner that makes 10 or more qualifying referrals will receive an invitation for two to attend the Model 3 unveiling event.
- 5+ Qualifying Referrals — Each owner that makes 5 or more qualifying referrals will receive an invitation for two to attend the Gigafactory opening event, including transportation to and from Reno, Nevada.
Rules
People making a referral must either have taken delivery of a Model S or have a confirmed order for one. Credit for referrals will be managed through each owner’s website account.
Tesla says it is offering the new referral program as a way of saying thank you to its many loyal customers. Since the company declines to use traditional advertising to market its cars, the positive word of mouth it gets from owners is vital to its success. But things are not always perfect in the real world and Tesla has apparently run into some sharp operators in the past. Here’s the language the people in legal insisted be added to the official announcement.
- Limits — You must be a current Tesla owner or have a confirmed order to make referrals, and cannot refer yourself. Only one referral credit can be applied to each Model S order; multiple credits on a single order are not permitted. Owners accepting giveaways will be responsible for any related taxes or government/third party fees.
- Good Faith — We introduce programs such as these in good faith and expect the same good faith in return. Please note that we may withhold credits, discounts or other awards where we believe customers are acting in bad faith or otherwise acting contrary to the intent of this program. To be clear, commercializing or otherwise selling referral codes is not appropriate, and we will not honor such codes. We cannot cover every nefarious scenario, nor will we attempt to, but we do promise to be fair and reasonable.
Good luck to everyone.
Tesla Referral Program News
- Taking a look back at the 1st Tesla Referral Program
- Elon Musk expands Tesla Referral Program
- Tesla confirms Bjørn Nyland as winner of referral program
Tesla stock (NASDAQ: TSLA) closed at an all-time high on Tuesday, jumping over 3 percent during the day and finishing at $489.88.
The price beats the previous record close, which was $479.86.
Shares have had a crazy year, dipping more than 40 percent from the start of the year. The stock then started to recover once again around late April, when its price started to climb back up from the low $200 level.
This week, Tesla started to climb toward its highest levels ever, as it was revealed on Sunday that the company was testing driverless Robotaxis in Austin. The spike in value pushed the company’s valuation to $1.63 trillion.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
It is the seventh-most valuable company on the market currently, trailing Nvidia, Apple, Alphabet (Google), Microsoft, Amazon, and Meta.
Shares closed up $14.57 today, up over 3 percent.
The stock has gone through a lot this year, as previously mentioned. Shares tumbled in Q1 due to CEO Elon Musk’s involvement with the Department of Government Efficiency (DOGE), which pulled his attention away from his companies and left a major overhang on their valuations.
However, things started to rebound halfway through the year, and as the government started to phase out the $7,500 tax credit, demand spiked as consumers tried to take advantage of it.
Q3 deliveries were the highest in company history, and Tesla responded to the loss of the tax credit with the launch of the Model 3 and Model Y Standard.
Additionally, analysts have announced high expectations this week for the company on Wall Street as Robotaxi continues to be the focus. With autonomy within Tesla’s sights, things are moving in the direction of Robotaxi being a major catalyst for growth on the Street in the coming year.
Elon Musk
Tesla needs to come through on this one Robotaxi metric, analyst says
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Tesla needs to come through on this one Robotaxi metric, Mark Delaney of Goldman Sachs says.
Tesla is in the process of rolling out its Robotaxi platform to areas outside of Austin and the California Bay Area. It has plans to launch in five additional cities, including Houston, Dallas, Miami, Las Vegas, and Phoenix.
However, the company’s expansion is not what the focus needs to be, according to Delaney. It’s the speed of deployment.
The analyst said:
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Profitability will come as the Robotaxi fleet expands. Making that money will be dependent on when Tesla can initiate rides in more areas, giving more customers access to the program.
There are some additional things that the company needs to make happen ahead of the major Robotaxi expansion, one of those things is launching driverless rides in Austin, the first city in which it launched the program.
This week, Tesla started testing driverless Robotaxi rides in Austin, as two different Model Y units were spotted with no occupants, a huge step in the company’s plans for the ride-sharing platform.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
CEO Elon Musk has been hoping to remove Safety Monitors from Robotaxis in Austin for several months, first mentioning the plan to have them out by the end of 2025 in September. He confirmed on Sunday that Tesla had officially removed vehicle occupants and started testing truly unsupervised rides.
Although Safety Monitors in Austin have been sitting in the passenger’s seat, they have still had the ability to override things in case of an emergency. After all, the ultimate goal was safety and avoiding any accidents or injuries.
Goldman Sachs reiterated its ‘Neutral’ rating and its $400 price target. Delaney said, “Tesla is making progress with its autonomous technology,” and recent developments make it evident that this is true.
Investor's Corner
Tesla gets bold Robotaxi prediction from Wall Street firm
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Tesla (NASDAQ: TSLA) received a bold Robotaxi prediction from Morgan Stanley, which anticipates a dramatic increase in the size of the company’s autonomous ride-hailing suite in the coming years.
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Percoco dug into the Robotaxi fleet and its expansion in the coming years in his latest note, released on Tuesday. The firm expects Tesla to increase the Robotaxi fleet size to 1,000 vehicles in 2026. However, that’s small-scale compared to what they expect from Tesla in a decade.
Tesla expands Robotaxi app access once again, this time on a global scale
By 2035, Morgan Stanley believes there will be one million Robotaxis on the road across multiple cities, a major jump and a considerable fleet size. We assume this means the fleet of vehicles Tesla will operate internally, and not including passenger-owned vehicles that could be added through software updates.
He also listed three specific catalysts that investors should pay attention to, as these will represent the company being on track to achieve its Robotaxi dreams:
- Opening Robotaxi to the public without a Safety Monitor. Timing is unclear, but it appears that Tesla is getting closer by the day.
- Improvement in safety metrics without the Safety Monitor. Tesla’s ability to improve its safety metrics as it scales miles driven without the Safety Monitor is imperative as it looks to scale in new states and cities in 2026.
- Cybercab start of production, targeted for April 2026. Tesla’s Cybercab is a purpose-built vehicle (no steering wheel or pedals, only two seats) that is expected to be produced through its state-of-the-art unboxed manufacturing process, offering further cost reductions and thus accelerating adoption over time.
Robotaxi stands to be one of Tesla’s most significant revenue contributors, especially as the company plans to continue expanding its ride-hailing service across the world in the coming years.
Its current deployment strategy is controlled and conservative to avoid any drastic and potentially program-ruining incidents.
So far, the program, which is active in Austin and the California Bay Area, has been widely successful.
Tesla stock closes at all-time high on heels of Robotaxi progress
Tesla needs to come through on this one Robotaxi metric, analyst says
