The Model 3 will be priced at $35,000 when it arrives at Tesla stores late next year.
Advertisement
“This Interest has spread completely organically”, Tesla said on its blog. Over 325,000 people put their money down waiting for one and that is a truly staggering number.
Elon Musk with the Model X auto at the Tesla headquarters in Fremont, California. The report claims that Tesla is now working through the last of its production parts from the earlier generation of Model S cars, and that we could see an announcement about the revised version as soon as next week. And if Tesla is strapped for cash in that scenario, then it’s going to be in hot soup.
Some background knowledge on Tesla’s production, as well as a look at some of the data provided about demand for Model S, suggests that Model S deliveries may have simply been negatively affected by Model X production issues.
The saga of the Tesla Model 3 and its positive reception from consumers continues. He added that only five per cent of customers ordered the maximum of two Model 3s-a fact the CEO inferred as indicating a low level of speculation.
However, it’s not sure if Tesla will sell all those cars, as most of the pre-orders will probably be canceled. The pre-orders stood over 325,000 which is roughly $14 billion in implied future sales. As a result, the company will have to adjust its production plans. As the company explained, “This has been a true grassroots effort driven by the passion of the Tesla team that’s worked so hard to get to this point and our current and future customers who believe so strongly in what we are trying to achieve”.
On Monday, shares of Tesla slipped after the company announced that it had delivered 14,820 vehicles in the first quarter, falling short of expectations for 16,000 deliveries.
Advertisement
The company said it’s “a huge step toward a better future by accelerating the transition to sustainable transportation”.
