Tesla revamps referral program with a chance to win a free Cybertruck

It appears that Tesla (NASDAQ:) has overhauled its Referral Program, and the changes are quite intriguing. According to observations from the Tesla community, the updated program offers credits towards vehicle purchases, along with an enticing lottery for a pre-release version of the Cybertruck.

According to the electric automaker’s support page, both existing and new owners are eligible to receive credits. Existing Tesla owners can obtain Referral Credits, while new owners can earn Buyer Credits. Loyalty Credits are also available for those who purchase qualifying Tesla products. The company notes that this is a way to show its appreciation to its existing consumers.

According to images posted by Tesla owners online, Model S and Model X purchases provide 6,000 Loyalty Credits. The two flagship vehicles also offer 3,500 Referral Credits. Purchases of the Model 3 and Model Y yield 3,500 Loyalty Credits or 2,000 Referral Credits. Purchases of Solar Roof and Solar Panels yield 9,000 Loyalty Credits or Referral Credits.

With 500 credits, you can buy an entry into Tesla’s Cybertruck raffle.

“Enter for your chance at a free Cybertruck. One winner will be selected at random to receive one of the first Cybertruck VINs off the line – no reservation needed, free of charge,” Tesla noted.

So, someone buying a new Tesla Model Y with a referral code right now would get three entries in the Cybertruck raffle or 500 miles of free Supercharging.

It may be worth mentioning that at the program’s height, owners who accumulated enough referral points were supposed to be rewarded with a complimentary new roadster. However, after a number of people achieved the milestone, CEO Elon Musk declared the discontinuation of Tesla’s referral program, citing concerns about the costs incurred by the numerous Roadsters, which the automaker has yet to deliver.

Shares of TSLA are down 2.25% in afternoon trading on Friday.