Tesla Model 3 pre-orders in launch week surpass 325,000

Tesla Model 3 pre-orders in launch week surpass 325,000

Electric vehicle manufacturer Tesla Motors has received more than 325,000 pre-orders for its mass-market Model 3 electric sedan within a week of its official unveiling. The Model 3 pre-orders involve a deposit of $1,000 by prospective buyers of the vehicle which is expected to cost $35,000.

The surprisingly high launch-week preorder numbers for Tesla Model 3 underscore an unparalleled consumer response to a new vehicle, even despite the fact that consumers are aware of a potential wait of at least around two years – or even more - before the vehicle is delivered to them.

With Tesla having received more than 325,000 deposits of $1,000 each from prospective Model 3 owners within one week on the opening of pre-orders last Thursday, it is apparent that the overwhelming consumer response to Model 3 is unprecedented, not just in the auto industry, but in any industry.

Though Tesla would evidently be thrilled by the response which its forthcoming Model 3 electric car has generated one week after its unveiling, the company would also possibly be worried about how it would manufacture the massive number of Model 3 units to deliver the pre-ordered vehicles.

Thus far, Tesla has been producing 50,000 electric cars in a year. In 2016, the automaker aimed for a number between 80,000 and 90,000, but it has thus far not got off to the desired start to achieve the projected number.

A Gas2.0 post informed, "Elon Musk has indicated via Twiiter that the company is keeping this all in mind and will try to do right by its customers. It might even reduce sales temporarily to maximize the tax credit. In other words, if Tesla is bumping up against the 200,000 limit near the end of the 4th quarter of 2017 — when Model 3 production is scheduled to begin."

A report in Business Finance News added, "Model 3 registrants have an option to cancel their orders and get their $1,000 deposit refund by the company. A single registrant can only order for a maximum of two cars. Moreover, the automaker was not able to meet last quarter’s delivery guidance of 16,000, as it reported total deliveries of 14,820 units. The shortage of deliveries was again a result of slow Model 3 production, as the company ran into supply parts constraints in the first two months of the year."

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