Tesla Model 3 update: 325,000 reservations in a week

Temperature check on Tesla’s Model 3: still scorching hot. The company has received more than 325,000 reservations, it said in an update Thursday morning.

Tesla Motors began taking reservations for its $35,000 electric car last week, and the numbers blew past expectations from the beginning — including on the first day, when Tesla stores resembled Apple Stores on iPhone launch day. The reservations, which are worth $1,000 a pop to the Palo Alto company, are almost triple the total number of all electric vehicles sold in the United States last year (116,099, according to Inside EVs).

In a blog post titled “The Week that Electric Vehicles Went Mainstream” this morning, Tesla boasted of “the single biggest one-week launch of any product ever.” The company also said it did no advertising and chalked up the demand to “a true grassroots effort” by the Tesla team.

The higher-than-expected demand has raised questions about when the electric-car maker can deliver the Model 3. Tesla has promised to start deliveries at the end of 2017. The 13-year-old company, whose factory is in Fremont, has delivered about 120,000 cars in its lifetime. Earlier this week, Tesla said it delivered less than 15,000 cars in the first quarter, falling short of its 16,000 goal. The company, which chalked up the miss to parts shortages because of its own “hubris,” expects to deliver up to 90,000 cars this year.

Tesla CEO Elon Musk tweeted this past weekend that this latest update on Model 3 numbers will be the last one for a while. He said the company needs to focus on “accelerating the ramp.”

 

Photo: The Model 3, Tesla’s $35,000 electric sedan, was unveiled Thursday, March 31, 2016. (Tesla Motors via AP)

 

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  • Aaron Webster

    This should be a wake up call for all other auto manufacturers. Consumers want an interesting innovative product that is personal. Ordering a Tesla is how buying a car should be. Pick the colors and options and have a definite price for your car. No haggling no annoying salespeople checking with their manager… Bravo Tesla.

  • Kris Hunt

    Tesla and the very wealthy Elon Musk should thank the taxpayers for those incentives that can turn a $35,000 car into a $25,000 car in California. If they were to sell 90,000 cars this year there is a $7,500 per vehicle Federal income tax credit which would equal $675 million. California offers an additional $2500 per vehicle. Nice gift from the hardworking taxpayers of this nation.

 
 
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