The saga of the Tesla Model 3 and its positive reception from consumers continues.
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“This [is] the single biggest one-week launch of any product ever”, said Tesla’s statement.
More than 325,000 reservations were made in the first week for the highly anticipated Model 3 sedan, according to Tesla Motors Inc.
Some reports have said the pre-orders essentially constitute profits, or expected future profits, but of course the pre-orders are not yet sales. Currently, the reservation tally stands at 325,000 and, assuming an average transaction price of $43,000, represents $14 billion of future sales for the electric automaker.
Edmunds says: So far, the Model 3 is more than living up to the hype.
Though the company hasn’t revealed the exact launch details of the product, we expect it to come to India towards the end of 2017 or early 2018. That said, he has his doubts that Tesla will be able to meet expectations, given the company’s poor track record in meeting its orders on time.
Tonight will mark one full week since Elon Musk introduced the long-awaited Tesla Model 3 to the world, and during those seven days the EV put up some preposterous numbers. The Tesla Model 3 will start at $35,000, which after federal and state tax credits, could be lowered to $28,000.
In October, Tesla applied for licenses to sell and service its electric vehicles in MI, even though Gov. Rick Snyder signed legislation in late 2014 that bans the company’s business model of directly selling cars to customers. It’s not scheduled to go on sale until late next year. “A week ago, we started taking reservations for Model 3, and the excitement has been incredible”. However, the large number of pre-orders will result in a long wait for those placing orders now. The auto “appears to be a more conservative, less risky, offering”, breaking less new ground than the Model X, analysts at Goldman Sachs said in a note last week.
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“It delivers what to my eye is the most agreeable, most romantic shape in the small-car class”.
