Model 3 received 180,000 pre-orders within a day after its launch, which left even the company’s big guns surprised.
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However, it’s not sure if Tesla will sell all those cars, as most of the pre-orders will probably be canceled.
Following those initial numbers, the first full-week numbers were anticipated to be 350,000-400,000 vehicles, according to one Wall Street firm.
In its statement, Tesla said that the updated figure represents $14 billion in implied future sales. AFP/Getty Images Customers wait in line to put a United States dollars 1,000 deposit on the as yet unseen Tesla Model 3, outside the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016.
Taking the midpoint of Pacific Crest’s expectations (375,000 preorders, $15.7 billion), it appears that the new Model 3 number of 325,000 is about $2 billion short. Tesla notes this is an impressive achievement as interest was generated organically as the company didn’t engage in advertising or pay for any endorsements. This unprecedented response, the company claims, has made the Model 3 the most successful product launch ever! The promise of an affordable electric vehicle from Tesla Motors had hundreds of people lining up to reserve one.
Kallo expects the first deliveries in 2018, given the company’s history of delays and need to ramp up production. Tesla has viewed the Model 3, which starts at a base price of $35,000 (roughly Rs. 23 lakhs), as key means to transitioning the auto market to zero-emissions.
Its flagship Model S sedan starts at $70,000 but can cost upwards of $100,000 when fully loaded.
Introduced in 2012, the Model S quickly became Hollywood’s dominant status auto, driven by everyone from Steven Spielberg to Jeffrey Katzenberg (who credited the vehicle with saving his life after it was involved in a serious accident).
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If things go as per Tesla’s plan, first customer deliveries of the Model 3 would commence in 2017.
