Tesla Motors announced its first referral program making 73,000 Model S owners potential salespeople.
For the first time Tesla Motors introduces a referral program for the Model S.
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Ordering a new Model S before October 31st using a referral link of a current owner will get $1,000 off the price.
The current owner will get a $1,000 discount for a new car, service center visit or accessory.
There are more incentives hitting milestones of up to 10 referrals. These include Model X discounts and even a chance on a free Model X as outlined in our earlier report.
We analyzed the Model S sales numbers and including the latest Model S sales numbers of Q2 2015. The referral program potentially turns 73,000 Model S owners around the world into salespeople.
The Tesla Model S launched in June of 2012. At the end of 2013 Tesla delivered 25,000 Model S cars. The chart below shows the Model S quarterly deliveries since Q1 2014.
That is a sizable sales force. Assuming only 10% of Model S owners manage to make a make sale. Tesla Motors would almost double the quarterly Model S sales numbers.
Tesla delivered 11,507 Model S cars in Q2 of 2015. The attractive incentives of the Tesla referral program will likely making Tesla's Q3 a record quarter.
Not to forget that Tesla Motors is launching the Model X late Q3 adding more car sales to Q3.
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Elon Musk calls the referral program an experiment. It could turn out to become a powerful sales tool for Tesla Motors. The program will end on October 31 and we will learn about the impact on Model S sales in the Q3 and Q4 earning releases.