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Tesla Model 3 Orders Hit 325000

Elon Musk, Tesla CEO, has tweeted on his account that by reserving a Model 3 vehicle, they will give customers priority in their geographic region.

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And the backlog only continued to swell from there, passing 325,000 reservations to become what Tesla is calling the “single biggest one-week launch of any product ever”.

“The excitement has been incredible”, the Tesla team wrote in a blog post.

The Model 3 has a panoramic glass roof and an elongated hood, seats five adults and has the same large touchscreen dashboard as other Tesla models.

Telsa has received a lot of praise after it unveiled the Model 3 sedan but many of its customers who are still waiting to receive their Model X are making their disappointment public. It also signals that a significant proportion of the global auto buying population is ready to embrace electric cars. The Japanese automaker sold 211,000 Leaf since its launching in 2010. The extraordinary response to the Model 3 is noteworthy, especially since the vehicle now has an expected shipment timeline of late 2017.

Tesla shares were down 2.6 per cent to $258.50 midmorning Thursday. But as we can see, more and more people are willing to pre-order the Model 3 and take advantage of its low price, which starts at $35,000 before federal incentives kick in.

“Most importantly”, the company added, “we are all taking a huge step towards a better future by accelerating the transition to sustainable transportation”.

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Deliveries of the Model X SUV have been hampered by slow production due to component shortages. Tesla has already stated that current Tesla owners, as well as Tesla employees, get priority once production begins. According to Reuters, Tesla will increase its production to 500,000 total vehicles by the year 2020. The company delivered 14,820 vehicles in the period, short of a 16,000-vehicle goal.

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