'Refer & earn': EV maker Tesla rolls out global incentives to boost sales

Electric-vehicle maker Tesla rolled out a new program globally allowing buyers to earn extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

The incentive, which Tesla dubbed as “Refer and Earn” on its websites, is equivalent to about $500 in cashback for buyers in the US, who purchase Model 3 and Model Y. The US incentives also include three months of its Full Self-Driving feature.

The program was rolled out in Tesla’s largest markets, including the United States, China, Germany, France, Canada, Mexico, Hong Kong and Singapore, according to the company's regional websites on Friday.

Automakers have historically used employee and loyalty discounts to lower the sticker price. Tesla up to now has focused on real-time adjustments to prices posted on its websites. Tesla shares rose 1 per cent on Friday.