November 27, 2024 1:24 AM | 3 min read The program applies to the Model S, Model 3, Model X, Model Y, and Cybertruck. Buyers of the Model S, Model X, and Cybertruck can enjoy a $2,000 discount, while Model 3 and Model Y buyers are eligible for a $1,000 discount in the U.S. Referrers in the U.S. can earn up to $10,000 via referrals, while Canadian participants can earn up to CAD13,000. Participants also have a chance to win an invitation to a future Tesla event. Why It Matters: Tesla’s enhanced referral program is part of a broader strategy to boost sales in the fourth quarter. The company recently started offering unlimited overnight charging via the Tesla Electric service, down from $15 a month, aiming to attract more buyers. This follows discounts of up to $4,000 on select Model 3 and Model Y vehicles to avoid a decline in annual deliveries. Despite these efforts, analysts predict that Tesla’s Q4 deliveries will set new records but may not prevent a yearly sales decline. The potential removal of the $7,500 EV tax credit by the incoming Trump administration could further affect Tesla’s sales, as highlighted by Gary Black, who warns of significant earnings impact if the credit is cut. Price Action: Tesla stock declined marginally by 0.1% on Tuesday to close at $338.23 but gained 0.6% in after-hours trading. Year-to-date, Tesla shares are up 36.2%, according to Benzinga Pro data. According to Benzinga Pro data, the consensus rating from analysts is "Neutral" for the Tesla stock. The highest price target is $400, while the consensus price target is 232.20, implying a 45% downside. Check out more of Benzinga’s Future Of Mobility coverage by following this link. Read Next: