Tesla Model 3 reservations up to 232,000 units 24 hours after reveal
01 April 2016
Almost 24 hours after the unveiling of the Tesla Model 3, Chairman and CEO Elon Musk tweeted that the reservations ($1,000 a pop, refundable) were up to 232,000.
Eleven hours before that tweet, when reservations were at a paltry 180,000 units, Musk tweeted that the selling price with the average option mix was around $42,000.
Model 3 reservations secure the approximate priority within the buyer’s region for taking delivery of the desired Model 3. The reservation is effective when it is placed, and when Tesla receives payment. (So, yes, that’s a quick $232 million.)
The reservation is not a order. When the start of production for a reserved vehicle nears, Tesla will ask buyers to configure the Model 3, create an order for the vehicle and send a Purchase Agreement indicating the purchase price of the vehicle, plus estimates of any applicable taxes, duties, transport and delivery charges, and any other applicable fees.
If the prospective buyer proceeds, Tesla applies the reservation payment towards the order payment. Until the buyer enters into a Purchase Agreement, the reservation may be cancelled at any time, resulting in a full refund.
at what point do the federal tax incentives run out? For some it might make more sense to order a lower end model S than wait for the model E
Posted by: Calgarygary | 02 April 2016 at 06:40 AM
In the us they run out after 200,000 sales. Tesla has already done 50k sales in the us so they have 150k credits left. Tesla will sell another 50k model s and x in the us before model 3 launches so I think now is already too late for that tax credit for model 3 or it will definitely be too late when 300k reservations are made. Of cause the tax law may be changed and make the tax brake for non-polluting and safer vehicles permanet as gassers kill 55k people prematurely every year in the us from toxic gasses and another 30k us citizens are killed in accidents because the cars are not as safe as Tesla's cars.
Posted by: Account Deleted | 02 April 2016 at 07:53 AM
maybe they can re-badge some as Toyotas
Posted by: Calgarygary | 02 April 2016 at 09:09 AM
Amazing number of reservation in 24 hours?
Will it keep on for another week or so?
If so, the total number may reach something between 500,000 and 1,000,000? It may be good for TESLA and USA?
Posted by: HarveyD | 02 April 2016 at 10:19 AM
When the model 3 is finally revealed at Christmas 2017 in full detail with all options available and a revolutionary fully self-driving autopilot the reservations could go over 1 million IMO. The car is the best car that you can buy for 35k USD of any car. And it is novel inside out. Also the world market for cars in the 35 to 50 k USD neibourhood is about 10 million per year. The limitation is only how log you will have to weight to get your car. In 2020 Tesla plan to make 300k model 3. If they get a million reservations people will not get their car until 2023. I think there is not much Tesla can do currently to speed things up. They can’t grow much faster than they currently do. They also need billions of USD for making those factories that make their cars. However, if Tesla reaches a million reservations by early 2018 for model 3 expect Tesla to make a huge equity issue like 4 billion USD and announce the immediate construction of another 50Gwh 6 billion usd battery factory and another 6 billion usd car factory. This time in Europe. The rest of the needed extra 12 billion USD money will be taken out of the gross profit made on selling model x, s and 3.
Posted by: Account Deleted | 03 April 2016 at 02:46 AM
Two joint ventures (one for Model 3 and one for EV batteries) with one or two large Chinese manufacturers could solve the production problem to satisfy the Asian markets?
Another similar set of joint ventures in Eastern Europe would be required to satisfy the European markets?
Another set of similar joint ventures in Brazil or Mexico would be eventually required to satisfy the Latin American markets.
TESLA USA could concentrate on the USA/Canada markets with the existing factories?
The above 3 or 4 mega factories could exchange components and parts as required.
New funds ($$$B) required could come from new manufacturing entities, on the open market place.
Posted by: HarveyD | 03 April 2016 at 11:07 AM
276k orders latest tweet
https://twitter.com/elonmusk/status/716693951260938241
Posted by: Account Deleted | 03 April 2016 at 01:03 PM