Tesla Just Rolled Out a Big New Update its Customers Will Love

Tesla has had a powerful run-up to the earnings the company will report after the bell Wednesday. So far, the year for the EV maker has been marked with an ever-increasing list of deals from competitive automakers to gain access to Tesla's Supercharging network, as well as growing excitement over the coming Cybertruck. 

And after a tumultuous 2022, which saw Tesla's stock drop more than 60%, things have started to turn around. The company is up around 140% for the year so far as its stock approaches its highs of last year. 

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In the midst of stock jumps, enormous production and delivery numbers and analyst expectations of a 45% increase in revenue from last year,  (TSLA) - Get Free Report announced an expansion of its referral program. 

Tesla first lifted its referral cap; owners can now refer up to 12 people annually, up from the five that were previously allowed. The company additionally said that customers are now allowed to post their referral links on social media and other public platforms, something that was previously prohibited. 

Based on feedback from the community, we’ve updated several Tesla Referral Program Policies.

1) the referral cap per year has increased from 5 to 12 referrals

2) posting your referral link on social media and public platforms is now permitted

Thank you for helping to…— Taylor Robinette (@twrobinette) July 19, 2023

The program, which Tesla boosted last week, grants referees "credits" depending on the vehicle being purchased, and referees cash discounts. Someone purchasing a Model S or X through a referral link will get $1,000 off the purchase price and three months of Full Self-Driving (which costs between $100 and $200 a month). The referrer will get 20,000 credits. 

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The purchase of a Model 3 or Y will grant the purchaser $500 off in addition to those same three months of FSD. The referrer will get 10,000 credits. 

The purchase of solar panels or a solar roof through a referral link will grant the buyer $500 and the referrer 9,000 credits. 

We’re about to see a lot more of these! https://t.co/3U0SRW9EpX— The Kilowatts