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Tesla Model 3 pre-orders near 400,000 cars

by Todd Haselton | April 21, 2016April 21, 2016 7:30 am PST

I’m still convinced that the figures for Tesla’s Model 3 pre-orders are bunk, since one only needs to place a $1,000 hold on the car, but Tesla continues to see increasing demand for its new and more affordable EV. The company’s CEO Elon Musk said recently that orders are now hovering around 400,000 cars.

“We are now almost at 400,000 orders for the Model 3,” Musk said, according to Reuters. “Apparently Musk and Tesla weren’t expecting the car to be that appealing to consumers, noting that the orders have “surprised even us.” That’s somewhat scary to think about – there has been concern that Tesla will have a hard time building all of the cars on time. At the very best, it currently looks like the later pre-orders will ship years from now unless Tesla boosts its production.

Keep in mind, again, that these pre-orders don’t represent a whole lot. Each order only requires a $1,000 deposit that can be refunded and, as Tesla begins to explain how long it will take to get deliveries out, we suspect that many deposits will be called back. Maybe Musk will prove us wrong.

Reuters

Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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