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Tesla Launches Referral Program; Winner Gets Free Car

| Aug 12, 2015 07:02 PM EDT

Tesla Motors, Inc.

Tesla Motors chief executive officer Elon Musk announced in July that it will launch a reward program for current and potential owners of its vehicles. The program offers $1000 worth of credit for a person that gets a referral link coming from a Tesla owner.

According to Gazette Review, Tesla is also offering a reward program for existing Tesla vehicle owners. The first Tesla car owner to successfully refer 10 persons will receive a free Series Model X SUV Founder Series. Aside from winning the free vehicle, the referrer will also win a monetary price.

Just days after Musk announced the reward program, the winner finally emerges. The winner, Bjorn Nyland, came from Norway and owns a Tesla Model S. He was able to quickly acquire ten referrals by tapping his YouTube channel subscribers that amounts to more than 13,000.

Tesla is currently suffering from slow market sales and the company is losing more than what it reaps. According to Reuters, the company is losing at least $4,000 for every Model S electric car sold using a computation that includes operating losses. The company also lost $359 million after it lost grasp of the luxury vehicle market.

In order to minimize company losses, Musk said that it is cutting production target for 2015 until 2016. The CEO is also planning to raise more capital and added that he is open in selling more stocks.

As of June 30, Tesla has $1.15 billion in total worth which is significantly lower compared to the $2.67 billion is has in 2014 on the same month.

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