Shares of Tesla Motors (NASDAQ:TSLA) were slipping Thursday morning even as the electric carmaker said on its blog it has received to date over 325,000 reservations for the Model 3, which equates to approximately $14 billion in implied future sales.
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The Model X, which was first delivered September 29 last year, had only 206 deliveries in the last three months of last year, and 2,400 more in the first three months of this year. Tesla is known for creating a lot of hype for its new electric auto models, and this new Model 3 is no different. The Model 3 launch is the company’s biggest single one-week launch ever.
The current number is twice as many Model 3s as Tesla reportedly expected to make. “Selling price w avg option mix prob $42k, so ~$7.5B in a day”.
Each reservation can be made by putting down a refundable deposit of $1,000.
The Tesla Model 3 will be priced from US$35,000.
That number, Tesla Motors tweeted, is 325,000.
While the pre-orders speak volumes about the popularity of Tesla, it also raises concerns about the company’s ability to meet the complex production goals. “Most importantly, we are all taking a huge step towards a better future by accelerating the transition to sustainable transportation”, said Tesla in a statement.
Tesla’s Model 3 has been riding high over the world as its orders has hit the U.S. $3 billion mark in just one week. As the company’s fourth production auto, it is aimed squarely at the mass market in an overt attempt to drive mainstream adoption of electric vehicles. The cost of buying a Model S is anywhere between $61,000 to $75,000.
Some analysts agree that Tesla might be able to deliver if the new model doesn’t involve a complicated design that would require more production time.
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Although the first deliveries of the Model 3 are due to start arriving in 2017, most people who reserve the vehicle likely won’t get theirs until 2018 or later given the unprecedented demand.
