Cybertruck referral program award (to accelerate delivery) for 30K credits -- 3/21/24

[cgladue]

Can referral points be purchased? How do you get them besides getting people to test drive?

you cant buy them you get them for people buying cars/ installing solar, every once and a while they give out credits for things like test drives and stuff (thats not always the case, right now you cant get points for testdrives)

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[cgladue]

do you need to be invited or can anyone with enough points do this?

i think anyone can redeem it, but last time it was gone pretty fast so if its gone itt may be "sold out" already

 

[Jhodgesatmb]

Yet another way to reward the people who deserve it the least, namely YouTubers. They are the only ones that can generate referral credits en masse in a short span of time. Why anyone would be stupid enough to give them referral credits is beyond me, but they are the ones that always cash in on these award programs. Take for example who ordered CyberSledges already.

 

[Jhodgesatmb]

If they were having trouble they would go further down the reservation list. There are likely ~8000 orders that have already been taken and have not received vins or been delivered. They are making ~90 trucks per day.

Invitations for foundation series have been very slow lately. If they wanted more orders they would be sending out a huge amount of invites like they did in december and january.

This is just more BS. Now people who ordered beasts on 12/8 are going to be pushed back for some random asshole. I can't imagine being in one of the chosen states (tx, ca, fl, az) with an early beast order, and now someone who orders one today can get it in 45 days. Just lunacy.

Right. If Tesla were to go from sending out invitations to 10,000-20,000 RNs per week to 30,000-40,000 RNs per week they could get more RN holders to order. Of course, my belief is that the further out on the RN list they go the less likely it will be that an RN holder will convert at the FS price, especially while Tesla is wringing out all of the issues that have been cropping up. But some, like me, will convert.

Sadly, the reason that they open up referral programs is because YouTubers are not the ones paying for the FS but their subscribers and the add pays they get. It isn't real money (i.e., theirs) for them. When I hear of YouTubers that never intended to get a Cybertruck but were offered one for immediate delivery or offered one through this incentive program and then decided to get one it makes me sick, and pissed.

Bottom line is that very few people 'can' take advantage of this referral credit boondoggle so it doesn't really matter, but it does leave a sour taste in one's mouth. I think that the TSLA long-term stockholder benefit is at least targeting a non-YouTuber population, even if still small.

 

[truck]

Still waiting for them to send out invites to stock holders.

 

[FutureTruck]

Still waiting for them to send out invites to stock holders.

Check your email or tesla app, got mine today.

 

[HaulingAss]

I mean I wonder what the reason is. Does it somehow increase the margin on the CT? Is 30k referral points equivalent to some cash value they can count as income?

I believe referral points must be accounted for under deferred liabilities (when granted) with a best estimate of their future cost to Tesla. By burning those up, deferred liabilities would be lower. I believe Tesla must count the referral points as an expense (deferred liability) when they grant them, if so, taking them off the books now at zero cost would improve their financial ratios.

I'm not an accountant, so I may have the details wrong, but I'm sure the effect shows up in their accounting. I'm just not clear on exactly how Tesla accounts for them. In any case, it would be a small effect relative to the overall size of their financials, but Tesla is all about optimizing their business, in every possible way, and one way to do that is to keep referral points in demand, without spending money to do so, so they can reduce marketing and advertising costs. If people build up referral points, with nothing to spend them on, then referral points become an ineffective incentive to drive sales in the future. And some or most redemptions of points have an actual dollar cost to Tesla while this does not.

A related reason why Tesla might feel this benefits their business is they know people with referral points are more visible, more influential, and Tesla desires the early exposure Cybertruck will get in these people's hands vs. people that have not networked to get referral points. It may be an attempt to extend Foundation Series as long as possible to help pay for the ramp. You can look at it like killing two birds with one stone. More higher margin sales ($20K Foundation premium) and more exposure.

 

[intimidator]

Tells me they are having trouble getting people to buy FS versions.

True.
I got my invite, but am waiting. I figure I waited almost 5 years already for my 500 mile range Tri-motor, I don't want to pay $100,000 for a 310-320 mile range FS version. Hopefully in 2025 Tesla will start selling the $79K version. Hopefully.

 

[SentinelOne]

Check your email or tesla app, got mine today.

what did they send you? I've signed up for the stockholder acceleration but havent heard anything? I've also got 30k credits and have missed the opportunity to apply 2x's!

 

[The Tesla Guy]

I mean I wonder what the reason is. Does it somehow increase the margin on the CT? Is 30k referral points equivalent to some cash value they can count as income?

I actually think it has more to do with the other Tesla Models
Providing more incentives for referrals with no cost for the award.

 

[Bumn]

Tesla has reintroduced the Cybertruck referral program award!

"Be invited to configure and take delivery of a Foundation Series AWD or Cyberbeast within 45 days of redemption."

I am new to tesla how do you get referral credits...?

 

[papondidi]

True.
I got my invite, but am waiting. I figure I waited almost 5 years already for my 500 mile range Tri-motor, I don't want to pay $100,000 for a 310-320 mile range FS version. Hopefully in 2025 Tesla will start selling the $79K version. Hopefully.

I totally agree with you. I got my invite to start my design 2 weeks after the announcement but there is no way I can cover 100k. hopefully the 79K will be open soon and then I can move forward.

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