Ever since the Tesla Model 3 was announced this month, people have begun reserving their vehicles through the company’s pre-order procedure.
Only a few hours after the launch, hundreds of thousands of potential buyers have already expressed their interest in getting the electric car, which would finish production sometime next year.
According to the report by the Wall Street Journal, the number of pre-orders surpassed 250,000 during the weekend, and would make the company about $10 billion in profits.
276k Model 3 orders by end of Sat
— Elon Musk (@elonmusk) April 3, 2016
Considering that the launch took place only a few days ago, the number of pre-orders for the Tesla Model 3 sedan could reach 500,000 if this trend continues, and would make $20 billion for Tesla.
Tesla Motors CEO Elon Musk expressed his gratitude for the overwhelming demand for the Model 3 via Twitter.
Token of appreciation for those who lined up coming via mail. Thought maybe 20-30 people per store would line up, not 800. Gifts on order.
— Elon Musk (@elonmusk) April 2, 2016
Marketed as a more affordable, but equally stylish version of the Model S, the Tesla Model 3 only costs $35,000 for the base model, which already includes some of the nifty and cool features of its two more expensive siblings.
Based on the details released during the press event, the electric car has a range of 200 miles and can go from 0-60mph in only six seconds. For people who want to get more power and features, there are options for add-ons, although they would significantly increase the price tag.
— WIRED (@WIRED) April 2, 2016
It is also worth noting that there are various state and federal incentives for buying an electric-powered vehicle, which means the buyer may get the vehicle for cheaper than the retail price of $35,000.
The Model 3 has a 15-inch display screen that features its navigation and autopilot functions. Musk also boasts of the design and build of the electric car, which can house five people comfortably. There is also a single glass roof that begins from the front trunk to the back of the car.
— The Verge (@verge) April 1, 2016
Because the vehicle does not have a bulky engine, it has both front and back trunks, which makes the Tesla Model 3 a great asset for individuals and families who love to travel.
According to a first drive report, while the car may have a few hiccups here and there, the buyer would still be getting the expected features – style, speed, and status.
In previous reports, Model 3 is said to be the embodiment of company’s ultimate dream – to bring its vehicles to the masses, and the streets. The earlier cars, Model X, and Model S, were aimed at luxury vehicle enthusiasts, whose purchases were used to fund the manufacturing of the more affordable Tesla Model 3.
— Forbes Tech News (@ForbesTech) April 3, 2016
Reports say that Musk will announce another update on Wednesday regarding pre-order numbers of the new Tesla sedan. While it is still difficult to predict how many of these Model 3 cars will roam the streets next year, experts refer to it as a revolutionary path in promoting the use of electric vehicles.
Currently, Tesla has sold and shipped about 110,000 electric vehicles, most of which are the company’s Model S vehicle. With the boost of pre-orders for the Model 3, the company’s goal to ship out 500,000 vehicles by 2020 is a definite possibility.
“About 116,000 plug-in cars were sold in the U.S. in all of 2015. Tesla just pre-sold more than double that in 24 hrs,” said automotive consulting firm executive Max Zanan, who sent an email to the media.
Aside from the upcoming Tesla Model 3 sedan, other electric powered vehicles that are currently on the market include other Tesla models, the Chevy Bolt, Nissan Leaf, and the BMW i3.
— The Verge (@verge) April 2, 2016
[Image via YouTube]