Tesla Motor’s Model 3 Hits the 325,000 Pre-order Mark

Tesla Motors Inc., Tesla's Model 3, Model S, Model X, electric vehicle, mass market electric cars, Tesla's production, auto-maker, automobile business

As Tesla’s cheap EV enters the market, the auto-maker has promised to revamp its production process so that it doesn’t come across a production lagging issues like before.

Elon Musk, the chief executive officer of Tesla Motors was quick to share the overwhelming response that the auto-maker received after the launch of its mass market electric vehicle Model 3. According to the latest data provided by the CEO of the auto-maker, the number of pre-order registrations, as of Thursday stands at 325,000. He mentioned while sharing the figures that over $14 billion of these registrations will turn into potential sales of the latest model.

The customers who have registered for the mass market car have an option to cancel their orders and receive their $1000 deposit fee back by the auto-maker. Other rules that have been set by the company on pre-ordering a vehicle include that the registrants can only order a maximum of two cars at one time. Furthermore, in a twitter post, the CEO mentioned that 5% of the registrants have signed up for two cars which mean that with the latest launch the automobile company has encouraged customers to purchase their cars.

In addition to that, when the pre-order figure hit its 325,000, Mr. Musk stated that this has been the single biggest one-week launch of any of the company’s products ever. Presently, the price tag on Tesla’s Model 3 is $35,000 however the price is expected to increase in case the company decides to introduce additional features to vehicle. Moreover, the CEO has initially at the time of the launch announced that this was just the first part of the launch and that there is going to be a second one

The official launch of the vehicle will be by the end of 2017, as Elon Musk announced during its launch event, and throughout this time span the company will periodically introduce new and additional features to the car. In a post Tesla suggested that the price along with all the features that will be later added to the car might go up to $42,000.

With the addition of these new features, the Model 3 will come closer to the muscle power and comfort level of its competitors which include BMW 3 Series, Mercedes Benz C-Class, Jaguar XE and Audi A4. It plans to make the electric vehicle quite standardized to match the comfort level of its competitor’s cars. Presently, the direct competition of Model 3 costs much cheaper in comparison to larger SUVs because of which customers are preferring to buy these standard vehicles at an affordable price since they also provide good enough muscle power.

Model 3 has a price advantage over its competitors presently; plus it will also be competing with other small sedans as well. However currently, both Benz C-Class and BMW 3 Series are priced below the $42,183 mark while Model 3 after federal tax incentives etc. will have a lower price than its competitors due to which it will have an edge in the market and have a larger target audience. Additionally, the car can speed from 0 to 60 miles per hour in less than six seconds which is unheard of for an electric car especially one that is priced at $35,000.

 

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