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Tesla Model 3: 325,000 pre-orders made in first week of release

Published 08/04/2016

The Model 3 will cost 35,000 dollars (£24,423) and have a range of at least 215 miles (346km) per charge, the company's chief executive, Elon Musk, said. PA
The Model 3 will cost 35,000 dollars (£24,423) and have a range of at least 215 miles (346km) per charge, the company's chief executive, Elon Musk, said. PA
Customers wait in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, outside the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
Customers wait in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, outside the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. AFP/Getty Images
Customers wait in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, outside the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
Customers wait in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, outside the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
Customers wait in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, outside the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
Customers wait in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, outside the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
Customers wait in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, outside the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
This undated photo provided by Tesla Motors shows the Model 3 car. The promise of an affordable electric car from Tesla Motors had hundreds of people lining up to reserve one. At a starting price of $35,000 before federal and state government incentives the Model 3 is less than half the cost of Tesla's previous models. (Tesla Motors via AP)
This undated photo provided by Tesla Motors shows the new Model 3 car. The promise of an affordable electric car from Tesla Motors had hundreds of people lining up to reserve one. At a starting price of $35,000 before federal and state government incentives the Model 3 is less than half the cost of Tesla's previous models. (Tesla Motors via AP)
This undated photo provided by Tesla Motors shows a silver Model 3 car. The promise of an affordable electric car from Tesla Motors had hundreds of people lining up to reserve one. At a starting price of $35,000 before federal and state government incentives the Model 3 is less than half the cost of Tesla's previous models. (Tesla Motors via AP)
A handout photo provided on April 1, 2016 by Tesla Motors shows the car manufacturer's new Model 3 which was unveiled on March 31, and is scheduled to hit the market late next year. AFP/Getty Images
Tesla Motors unveils the new lower-priced Model 3 sedan at the Tesla Motors design studio Thursday, March 31, 2016, in Hawthorne, Calif. It doesn't go on sale until late 2017, but in the first 24 hours that order banks were open, Tesla said it had more than 115,000 reservations. Long lines at Tesla stores, reminiscent of the crowds at Apple stores for early models of the iPhone, were reported from Hong Kong to Austin, Texas, to Washington, D.C. Buyers put down a $1,000 deposit to reserve the car. (AP Photo/Justin Prichard)
A woman looks into the Tesla store in Santa Monica, California, where customers are waiting in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
A man looks into the Tesla store in Santa Monica, California, where customers are waiting in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
A man looks into the Tesla store in Santa Monica, California, where customers are waiting in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
Customers wait in line to put a USD 1,000 deposit on the as yet unseen Tesla Model 3, outside the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
A salesrep (L) helps a customer pre-order the as yet unseen Tesla Model 3, in the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
A salesrep (L) helps a customer pre-order the as yet unseen Tesla Model 3, in the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images
A salesman (2R) help customers pre-order the as yet unseen Tesla Model 3, in the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECKROBYN BECK/AFP/Getty Images

Electric car company Tesla Motors has announced it has received 325,000 orders for its upcoming Model 3 in a single week.

Pre-orders opened straight after the car's unveiling, which happened at a glitzy Los Angeles event on 31 March.

Graphic shows the four electric cars that Tesla Motors has built to date, including vital statistics
Graphic shows the four electric cars that Tesla Motors has built to date, including vital statistics

The number of orders broke the 100,000 mark just hours after the event, and sailed past 250,000 by 3 April.

Now, after a week, 325,000 reservations have been made, which represents around $14 billion (£9.9 billion) in future sales.

According to Tesla, this enormous figure makes the Model 3's release "the single biggest one-week launch of any product ever."

The amount of interest in the Model 3, Tesla's first truly affordable car, is even more impressive considering each customer had to put down a $1,000 deposit before making their order.

In a statement, Tesla said: "We are all taking a huge step towards a better future by accelerating the transition to sustainable transportation."

Read more

Tesla Model 3 revealed: Elon Musk's lower-price sedan offers 215 miles on a single charge  

The company thanked the people who pre-ordered and their past customers, and said: "We would write more, but we need to get back to increasing our Model 3 production plans!"

Elon Musk, founder and CEO of Tesla, has said that the company will be able to produce 500,000 Model 3s a year when running at full capacity.

However, it'll take some time to ramp up production to that level, and many people are expecting customers will have to wait until well after the proposed late 2017 launch date to receive their cars.

Independent

Independent News Service

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