Tesla Received More Than 325000 Model 3 Reservations

Tesla Motors Inc. (NASDAQ:TSLA) said that reservation for the Model 3 have already reached more than 325,000 in one week as everyone is chasing the more-affordable small electric car.

The company updated the reservation number in a Twitter (NYSE:TWTR) post Thursday. Chief Executive Officer Elon Musk also provided reservation updates in its Twitter since Model 3 was released and said that the number was twice what he had expected.

Musk revealed the Model 3 on March 31 at Tesla’s design studio in Hawthorne, California. Must said that it was the best car you can buy at $35,000. People who want to buy the new electric car can pay $1000 to make the reservation. The more-than-expected reservation had help the company raised 350 million cash with no interest. It only raised $226.1 million in its IPO in June 2010.

“We’ve now received more than 325,000 reservations, which corresponds to about $14 billion in implied future sales, making this the single biggest one-week launch of any product ever. “ The company said.

But people are worry about whether Tesla can deliver so many Model 3 in the future.The company announced on Monday that it had delivered 14,820 vehicles in the first quarter, falling short of the guided expectations of 16,000 deliveries. Although the company said that the guidance of full-year delivery is about 80,000 to 90,000 vehicles. But it still takes more than three year to deliver more than 325,000 vehicles.

“It is not possible to ship to all regions simultaneously because regulators in each part of the world have slightly different production requirements,” Tesla said in a March 21 blog post. “Staggering deliveries in this way also allows us to provide the best possible customer experience.”

Leave a Comment