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Natt Garun
US EditorNatt Garun is the former US Editor at The Next Web, managing the North American team on content, events, features and reviews coverage. She Natt Garun is the former US Editor at The Next Web, managing the North American team on content, events, features and reviews coverage. She previously wrote for Digital Trends, Business Insider, and Gizmodo. Facebook | Twitter | Google+
Less than 24 hours after Tesla opened up pre-orders for its “affordable” Model 3 vehicle, CEO Elon Musk said the company has already received 198,000 deposits and counting – valuing at least $7.5 billion worth of potential sales.
Model 3 orders at 180,000 in 24 hours. Selling price w avg option mix prob $42k, so ~$7.5B in a day. Future of electric cars looking bright!
— Elon Musk (@elonmusk) April 1, 2016
Thought it would slow way down today, but Model 3 order count is now at 198k. Recommend ordering soon, as the wait time is growing rapidly.
— Elon Musk (@elonmusk) April 1, 2016
That is, of course, assuming everyone who put down that $1,000 pre-order deposit follows through with purchasing the car, which is estimated to sell for an average retail price of $42,000. The deposit is refundable until production on your order begins.
Even if it doesn’t turn every deposit into a sale, Tesla’s still netted a cool $198 million in the bank in its first day.
Tesla opened up pre-orders before the car was even revealed, with people lining up outside of showrooms days ahead of the launch. 198,000+ vehicles is extremely high demand, so it’ll be interesting to see how Tesla manages to meet their pre-orders expectations – again, assuming everyone who put down a grand buys the Model 3.
Definitely going to need to rethink production planning…
— Elon Musk (@elonmusk) April 1, 2016
Did you put a deposit down for a Model 3? Do you plan to?
Update: 232,000 deposits down in the first 27 hours.
Now 232k orders
— Elon Musk (@elonmusk) April 2, 2016