Tesla: Refer A Friend, Get $1,000 Off A $70,000 Model S

In the market for an electric car, but the high price tag scaring you away? Would $1,000 off be enough to spur you to purchase that $70,000-plus vehicle? That’s apparently what Tesla’s betting on.

Yesterday, Tesla announced plans to launch its first incentive program that provides discounts to current owners and new car buyers, Bloomberg reports.

Under the limited-time program, Tesla will cut the price of a Model S by $1,000 if the buyer provides a referral link from a current Model S owner.

In return, the current owner will receive $1,000 to be used toward the purchase of a new Tesla, service or accessories.

“We’re trying to figure out if we can reduce the cost of selling the car and pass it on to customers,” CEO Elon Musk said. “It’s an experiment with a finite time. It’s worth trying out. If it’s a fundamental improvement in cost of sales that we can pass on to customers, that’s a good thing.”

While receiving a discount on a big-time purchase is always nice, the $1,000-off Tesla offers seems to be fairly low when compared to the $75,000 base price for the new model with all-wheel-drive.

Still, Bloomberg reports that Tesla is offering current owners additional incentives.

If they talk five friends into placing referral orders, Tesla will send them an invitation for two to the grand opening party for the Gigafactory — the company’s battery-making location currently under construction.

Owners who talk 10 friends into buying a Model S will receive the right to purchase a Founder Series Model X, which isn’t available otherwise.

Musk Offers Model S Referral Program as Tesla’s First Incentive [Bloomberg]