Apr 7, 2016

Elon Musk: Tesla Model 3 orders hit $14 billion in one week

Posted by in categories: Elon Musk, sustainability, transportation

One week after Elon Musk unveiled the Tesla Model 3, the company’s first mass-market car, hundreds of thousands of people have paid $1,000 to reserve the car despite its expected late-2017 launch.

That reservation figure totals to $14 billion (theoretical dollars) in sales, or 325,000 cars, with one big caveat: With only $1,000 down, some — perhaps many — of these orders will inevitably be adjusted or canceled over the next few years. In any event, that’s $325 million paid in preorders to date for a car that basically doesn’t exist yet.

Over 325k cars or ~$14B in preorders in first week. Only 5% ordered max of two, suggesting low levels of speculation.

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